Explain total utility and marginal utility
Problem 1: Explain total utility, marginal utility and diminishing marginal utility.
Problem 2: Briefly describe how the utility-maximizing choice on a consumption budget constraint can be found.
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If one country is the most efficient one in producing everything, this country will not gain from trade. Discuss your answer.
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Explain total utility, marginal utility and diminishing marginal utility. Briefly describe how the utility-maximizing choice on a consumption budget constraint
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Explain the relationship between economic systems and health care in detail? What is the impact of economic systems on health care?
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