The reason behind marginal utility of a commodity being measured in monetary term.

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What is one consumer food or service for which in the last 10 to 15 years consumers preference has actually increased, and still, the price has decreased. Based on all the supply and demand determinants, what is a possible reason that could cause the decrease in the price of the suggested good.

Answer 1

Question

Chapter 5, Problem 2DQ

To determine

The reason behind marginal utility of a commodity being measured in monetary term.

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What is one consumer food or service for which in the last 10 to 15 years consumers preference has actually increased, and still, the price has decreased. Based on all the supply and demand determinants, what is a possible reason that could cause the decrease in the price of the suggested good.

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