Explain why the convexity of the indifference curve is a different concept from diminishing marginal utility.

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Introduction to Behavioral Economics

ISBN: 978-0470596227

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Authors: David R. Just

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Posted Date: Mar 06, 2024 11:30 PM

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Explain why the convexity of the indifference curve is a different concept from diminishing marginal utility.

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The convexity of the indifference curve and diminishing marginal utility are two related but distinct concepts in the field of microeconomics that des... View the full answer

Introduction to Behavioral Economics

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