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  1. According to Veblen, what is conspicuous consumption?
  2. Do you agree with Veblen that conspicuous consumption exists? Why or why not?
  3. If Veblen is correct and conspicuous consumption exists, then what role does price have in determining marginal utility?
  4. Whether or not you agree it exists, does the existence of conspicuous consumption negate the chapter analysis about maximizing total utility? Why or why not?

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