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    Principles of Microeconomics Study Set 3
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    Exam 16: Consumer Choice
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    By Using Consumer Choice Theory,explain Why Diamonds,which Are Not Necessary
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By Using Consumer Choice Theory,explain Why Diamonds,which Are Not Necessary

Question 31

Question 31

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By using consumer choice theory,explain why diamonds,which are not necessary to sustain life,are expensive,whereas water,which is necessary for life,is not.

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One would think that water,because it is...

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