Problem
1. Which gives you greater total utility: 14 gallons of water per day or 22 gallons per day? Why?
2. At which level do you get greater marginal utility: 14 gallons per day or 22 gallons per day? Why?
3. Which of the following items are likely to be normal goods for a typical consumer? Which are likely to be inferior goods?
a. Expensive perfume
b. Paper plates
c. Secondhand clothing
d. Overseas trips
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.