The law of diminishing marginal utility states that

Assignment Help Business Economics

Reference no: EM131076373

The law of diminishing marginal utility states that:

a. the marginal utility of all products consumed must be equal.

b. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, increases.

c. as more of a good or service is consumed, the marginal utility derived from it decreases.

d. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, remains the same.

e. the marginal utility of the last unit consumed of any good is less than the marginal utility of all other products consumed.

Reference no: EM131076373

Questions Cloud

Compute the value of the mini max tree : Design a general solution for representing and evaluating these trees.

What information could you ask for that will help you : You have just one hour to gain a brief understanding of a company's current performance. What information could you ask for that will help you to have a quick understanding of the company's performance within a very short time?

A gamma distribution with parameters : b. Let Y = the lifetime measured in minutes. Derive the pdf of Y.If X has a gamma distribution with parameters a and b, what is the probability distribution of Y = cX?

Legislation that helps to manage retirement plans : Discuss some of the legislation that helps to manage retirement plans. What are some examples of laws that have been put into place to protect employees? What are these laws purposed to do?

The law of diminishing marginal utility states that : The law of diminishing marginal utility states that:

How did mulcahys life and professional experience contribute : How did Mulcahy's life and professional experiences contribute to her personal application of the four dimensions of EQ (emotional intelligence) and AL (authentic leadership)? Provide examples.

If demand had the same elasticity for price decline : Danny “Dimes” Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $2.25 each, he sells 100. At a price of $1.75 each, he sells 300. If demand had the same elas..

Situations of employee poor behavior : Create 3 fictional scenarios in which an employer would have to deal with any of the following situations of employee poor behavior on the job, Substance Abuse, Sexual Harassment, Fighting, Work Family Conflicts, or Email (or Internet) abuse.

User Account

All Pages