Questions and Answers
Which assumption is violated by the condition where the MU received by a drunkard may increase?
Assumption of rationality
What is an exception to the law related to power?
Lust for power increases with acquisition
In the diagram provided, what does the locus of all points joined depict?
MU curve
What is an apparent exception regarding money and its marginal utility?
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Why does the MU curve slope downwards from left to right in the diagram?
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How does the marginal utility of money change as per the text?
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Which assumption do the exceptions related to power, money, and drunkard violate?
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