Question: I need help in answer these questions and references where the answer came from. Thanks. 1. What determines a household's consumption possibilities? 2. How would

I need help in answer these questions and references where the answer came from. Thanks.

1. What determines a household's consumption possibilities?

2. How would you answer someone who says that marginal utility theory is useless because utility cannot be observed?

3. What is consumer surplus? How is consumer surplus calculated?

4. What is a firm and what is the fundamental economic problem that all firms face?

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