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Total utility and marginal utility

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Solution Summary

This problem involves the fundamentals of Microeconomics

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Hi There,
<br>Please see the following attached Word Document.
<br>Also, here is some additional info regarding marginal utility:
<br>marginal utility: The additional utility, or satisfaction of wants and needs, obtained from the consumption or use of an additional unit of a good. It is specified as the change in total utility divided by the change in quantity. Marginal utility indicates what each additional unit of a good is worth to a consumer.
<br>utility: The satisfaction of wants ...

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