what is conspicuous consumption?
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- Post: your answer the following questions:
- According to Veblen, what is conspicuous consumption?
- Do you agree with Veblen that conspicuous consumption exists? Why or why not?
- If Veblen is correct and conspicuous consumption exists, then what role does price have in determining marginal utility?
- 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?
