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2. Introductory Economic Models
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Problem 8
Problem 9
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Problem 15
2. Introductory Economic Models
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2. Introductory Economic Models / PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency / Problem 5
Problem 5
How does diminishing marginal benefit affect consumer willingness to pay for additional units of a good?
A
It causes consumers to pay a constant amount for each unit.
B
It has no effect on willingness to pay.
C
It increases the willingness to pay for additional units.
D
It decreases the willingness to pay for additional units.
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