Concept of diminishing marginal utility

Assignment Help Business Management
Reference no: EM133185432

As we're well aware, vending machines are used to sell snacks and beverages, whereas newspapers are sold out of a box that allows anyone to take more than one paper.

How does the concept of diminishing marginal utility explain the different distribution techniques for newspapers vs. snacks and beverages?

Identify two additional examples of an item whose diminishing marginal utility is high.

Remember: Marginal utility is the change in total utility that results from a one-unit increase in the quantity of a good consumed; diminishing marginal utility is the general tendency for marginal utility to decrease as the quantity of a good consumed increases.

Reference no: EM133185432

Questions Cloud

Explain major functions of the federal reserve : Explain the major functions of the Federal Reserve. Discuss why the money supply curve is vertical.
Basic relationship between risk and return : What is the basic relationship between risk and return and how is this reflected in the value of the firm's stock? The cost of debt?
Capital asset pricing model : What are your recommendations for raising capital based on your answers to the above questions plus considering other factors
Methods for evaluating possible capital projects : What are the various methods for evaluating possible capital projects, in terms of their possible benefits to the firm? Describe the benefits and/or shortcoming
Concept of diminishing marginal utility : How does the concept of diminishing marginal utility explain the different distribution techniques for newspapers vs. snacks and beverages?
Discuss pricing policy of price discrimination : Discuss the pricing policy of price discrimination. Provide the economic reasoning for movie theaters, airlines,
Contracting with imperfect information : Consider a manufacturing firm which needs to seek some outside legal help from a law firm.
Architecture of markets and firms : Write a short essay on how and why the "architecture" of markets and the "architecture" of firms help decide how well markets and firms,
Philosophical worldview and research methodology : How does understanding the connection between philosophical worldview and research methodology assist in your research approach?

Reviews

Write a Review

Business Management Questions & Answers

  Assembly line speed boosts production

What is the effect on short-run cost curve? Will be moving along cost curve or shift cost curve?

  Project management fundamentals in health care industry

Why is it important to understand and apply project management fundamentals in the health care industry?

  Strengths and limitations of the system

You have been asked to conduct some research and write a report that identifies the strengths and limitations of the system.

  Doubt that the american population

Discuss how you might lead and motivate employees practicing and holding on to their cultures while having to work within the United States?

  United nations and other international organizations

Would it help if a non-profit that aims to help the less fortunate lobbied with the United Nations and other international organizations

  Deficient practices with a joint commission standard

A department manager at local hospital has identified deficient practices associated with Joint Commission standards. Select a Joint Commission standard

  Suggest a plan of correction to improve the outcomes

The problems run the gamut from unmotivated employees to those who either don't know what they should be doing or don't know how to do their job.

  What is it about an ad that makes you want the product

Is it originality, the "headline", prices, color, does the ad convey a sense of urgency, or speak to a need you have, etc.?

  How are team dynamics influenced by the leadership style

How are team dynamics influenced by the leadership style? How does a leader's communication, or lack of communication, influence a team's outcomes?

  Cost estimating process

Cost Estimating process on projects for a well-established, fictitious, small-sized software development company who has recently established a Project

  Explain how the internet may affect public opinion

how the Internet may affect public opinion in a positive or negative way with regards to brand reputation

  Have you experienced a team building workshop

What is your opinion - Have you experienced a team building workshop?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd