• Describe the relationship between total utility and marginal utility.
• Explain if marginal utility can be negative.
• Examine the diamond-water paradox. Why are diamonds more expensive than water?
• Evaluate the law of diminishing marginal utility.
• Identify some items, explaining your reasoning, that do not follow the law of diminishing marginal utility.
• Evaluate how the law of diminishing marginal utility can explain the diamond-water paradox.

The Law of Diminishing Marginal Utility paper

• Must be three to five double-spaced page in length (not including title and references pages) and formatted according to APA Style(Links to an external site.) as outlined in the Writing Center’s APA Formatting for Microsoft Word (Links to an external site.)
• Must include a separate title page with the following:
  • Title of paper in bold font
    • Space should appear between the title and the rest of the information on the title page.
  • Student’s name
  • Name of institution (University of Arizona Global Campus)
  • Course name and number
  • Instructor’s name
  • Due date
• Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
• Must use at least three scholarly and/or credible sources in addition to the course text.
• Must include a separate references page that is formatted according to APA Style as outlined in the Writing Center. See the APA: Formatting Your References List(Links to an external site.) resource in the Writing Center for specifications.

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