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
oxidation state of f block elements
Change in consumer and producer surplus from price controls * Observations: - The loss is equal to area B + C. - The change in surplus = (A - B) + (-A - C) = -B - C -
As a consumer increases the consumption of any one commodity, marginal utility of the variable commodity must eventually decline."Illustrate the statement. Illustrate law of dem
illustrate and explain the changing demand gor big Mac using the indifference curves and budget line
Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp
if the Japanese yen appreciates against the U.S. dollar, do the Japanese businesses gain by a decrease in the dollar price of exports to the United States
define for whom to produce
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
discus how opportunity cost influence supplier''s decision to supply labour
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