Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Marginal utility
- It is the measure of the additional satisfaction obtained from consuming one additional unit of good.
* Marginal Utility: An instance
- The marginal utility can be derived from increasing from 0 to 1 units of food may be 9
- Increasing from 1 to 2 may be 7
- Increasing from 2 to 3 may be 5
* Observation: Marginal utility is getting diminished
* Diminishing Marginal Utility
- The principle of the diminishing marginal utility states that as more a good is used, using additional amounts will yield smaller additions to utility.
Relationship between Total and Marginal Utility
* Diminishing Marginal Utility: An Example
types of cost
Problems of population census: High Cost of Census: Censuses are supposed to be conducted at a 10 year interval. The high cost of conducting census has made it impossibl
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
What is the concept of the development? The concept of the development: Development is a complicated multi-dimensional concept to do along with enhancements in the human
Earth is completely surrounded by thick envelope of gases called atmosphere. Atmosphere is sub divided into different layers depending upon the distance from the sea level. The
what is the theory of second best ? prove the theorem with the help of a diagram .
explain main features of short run engineering cost theory
Consider a person''s decision problem in trying to decide how many children to have. Although she cares about children and would like to have as many as possible, she knows that ch
explain normal profits
Marginal rate of technical substitution in the theory of production is similar to the concept of marginal rate of substituent to in the indifference curve analysis of consumer dema
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd