Problem
1. Explain the law of diminishing marginal utility, and give an example to illustrate it.
2. If you were to consume five hamburgers at Wendy's, would you enjoy a consumer surplus? Explain your answer.
3. How do we measure utility? Are interpersonal comparisons valid? Why or why not?
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.