When does the law of diminishing marginal utility set in

Reference no: EM13239072

Suppose that you observe that total utility rises as more of an item is consumed. What can you say for certain about marginal utility? Can you say for sure that it is rising or falling or that it is positive or negative? When does the law of diminishing marginal utility set in and what does this illustrate about where you should stop consuming if you were eating at an all you can eat buffet?

Reference no: EM13239072

Questions Cloud

Find the location of all points : A long line carrying a uniform linear charge density +56.0 µC/m runs parallel to and 10 cm from the surface of a large, Find the location of all points on a line perpendicular to the sheet and the charged line

Explain the chemical formulas for two substances : Choose the answer which presents the chemical formulas for two substances in order of decreasing melting point (highest melting point first) and gives a valid reason for this order.

Western ideals interpreted differently in these two contexts : Compare the major points of the Constitution of the United States with those of the Communist Manifesto. How are the Western ideals interpreted differently in these two contexts?

How three major factors discussed in text can shift level : What must occur to Aggregate Demand and Aggregate Supply in order for the U.S. economy to experience an increase in Real GDP,and at the same time, not experience a significant increase in the price level

When does the law of diminishing marginal utility set in : Suppose that you observe that total utility rises as more of an item is consumed. What can you say for certain about marginal utility Can you say for sure that it is rising or falling or that it is positive or negative

Explain how each religion hinduism and buddhism : Explain how each religion (Hinduism and Buddhism) is practiced today. Provide one (1) specific example of how each is practiced. and Identify at least two (2) ways in which each religion is practiced in the world.

Compute the solubility of ch3br in water : The Henry's Law constant for CH3Br gas in water at 25 oC is 0.159 mol/L-atm. Calculate the solubility of CH3Br in water at 25 oC in moles/L if the partial pressure of CH3Br in the headspace above a water sample is 1.71 atm.

What considerations must be taken into account : The owner of a small pizzeria is deciding whether to increase the radius of delivery by one mile. What considerations must be taken into account if such a decision is to increase profitability

Compute the number of moles of ions present in solution : Calculate the number of moles of ions present in 66.8 g of a solution that is 2.11% Fe(NO3)3 by mass.

User Account

All Pages