Chapter 7 - Utility maximization. In this chapter, the law of diminishing marginal utility is developed, which leads into a detailed discussion of the theory of consumer choice. The numerical illustrations of the utility maximizing rule should be viewed as a pedagogical technique, rather than an attempt to portray the actual choice making process of consumers. The chapter concludes with a discussion of how society might use this theory to reduce criminal behavior. | Lecture Macroeconomics 20 e Chapter 7 - McConnell Brue Flynn
