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Econ 202 - HW Week 7 - Alex Rodriguez Econ 202 HW 7 1. Weve...

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Alex RodriguezEcon 202HW 71.We’ve presumed that when we consume goods, our marginal utility decreases as we consumemore of a good. Does the same thing apply to income? Does the marginal utility of a dollar ofincome decrease as one earns more? Explain.Does your answer support or challenge the ideathat redistributing income can increase overall utility in a society? Explain. (4)

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Term
Fall
Professor
StevenBalkin
Tags
Economics, optimal consumption

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