Student Number..........Name........................................

1. If we take $1.00 away from a rich person and give it to a poor person, the rich person loses less utility than the poor person gains? Why would many economists say that this is not necessarily a true statement?
 
 
 
 

2. Is it possible to get so much of a good, that it would become a bad (ie Marginal Utility less than 0)?  If so, give an example.
 
 
 

3. Fill in the blanks in the following table.
 

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