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VedSquare
Marginal Utility of Money Explained | Economics
Dive into the concept of marginal utility of money in economics with this quick explanation. Assuming the marginal utility of money is constant, how is it mathematically represented? The options are: $MU_money = k$, $MU_money = frac1k$, $MU_money = k^2$, and $MU_money = sqrtk$. The correct answer is $MU_money = k$, which means each additional ...
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