Explain the axiom of diminishing marginal utility

Assignment Help Microeconomics

Reference no: EM13741205

(a) Define marginal utility and clearly explain the axiom of diminishing marginal utility.

Define the term unemployment

b) i) Discuss the main causes of unemployment

ii) Suggest the possible measures that you would implement to contain unemployment problems.

Reference no: EM13741205

Questions Cloud

Explain how the playwright uses the male characters of play : Based on your hearing or reading of The Outside by Susan Glaspell, explain how the playwright uses the male characters of the play to reveal feminist themes.

Compute the gross profit of the call option : Consider options on Microsoft stock. Suppose that there are call options with a strike price of $10 and put options with a strike price of $10, both with the expiration date of January 16th. Compute the gross profit

Policy of laissez faire in managing economic activities : Adam Smith favors a policy of laissez faire in managing economic activities. Why? Economics deals with the efficient use of resources? Why? Marginal analysis tends to produce more optimal outcomes when working with scarce resources. How?

Why the leaders of the abbasid revolution claimed : The leaders of the Abbasid revolution claimed they were justified in overthrowing the Umayyad dynasty because the Umayyads were godless rulers who lacked piety.

Explain the axiom of diminishing marginal utility : Define marginal utility and clearly explain the axiom of diminishing marginal utility.

Raise the economic welfare of countries : Do you think that Business practices in an Islamic country are likely to differ from Business practices in the United States? If so, how? Recognize why many economics believe that unrestricted free trade between nations will raise the economic welfar..

Effective ethics programs : Discern how a more effective ethics programs and a more viable code of conduct could have mitigated the ethical issues faced by Nike.

Must perform their duties in the exact manner : A manager tells his workers that they must perform their duties in the exact manner and order that he has commanded, with no exceptions. He is using

When was albert einstein born : when was albert einstein born.

User Account

All Pages