Consumers arrival at a point-law of diminishing marginal

According to law of diminishing marginal utility, the consumer inevitably arrives a point where: (i) Net satisfaction derived from good declines. (ii) Consumer suffers from total satiation from some good. (iii) Extra satisfaction outcome by extra units of good declines. (iv) Value of an extra dollar of income reduces total satisfaction.

Can someone help me in getting through this problem.

View Complete Question

Related Questions in Microeconomics

Q : Synonym for the economists term utility

I have a problem in economics on Synonym for the economist’s term utility. Please help me in the following question. The reasonably close by synonym for the economist’s term utility is: (1) Consumption. (2) Marginalism. (3) Discontentment. (4) Satisfaction

Q : Types of measurement in Metrics Types

Types of measurement in Metrics: A) Nominal: a nominal scale assigns items to a category. For example, the category may be a simple "yes" or "no." In the case of a family, a nominal scale

Q : Total revenue for profit-maximizing TR

TR stands for total revenue for this profit-maximizing pure competitor as in below figure equals area: (i) 0Phq2. (ii) 0bgq2. (iii) Pbgh. (iv) 0aeq1. (v) daef.

Q : Prices and outputs in short run All

All output markets which are less than purely competitive are characterized through: (1) domination of the market by some large firms. (2) individual firms that are very small to affect their prices. (3) freedom of entry and exit in the long run. (4)

Q : Profit Maximization in Labor Markets

Can someone help me in finding out the right answer from the given options. All the profit maximizing organizations employ labor up to the point where: (1) MR MC is maximized. (2) VMP = MFC. (3) VMP = MRP. (4) MRP = MFC. (5) VMP = w.

Q : Relative concept about poverty A

A predictable reluctance through modern welfare recipients to trade all they own for the material possessions of a rich person by a much earlier period would be evidence which poverty is: (w) easily solved by income redistribution pro

Q : Effects of higher real interest rates

Higher real interest rates give in: (w) greater incentives to save and decreased incentives to invest. (x) increases in the amount of liquidity desired by financial investors. (y) increases in the optimal debt-equity ratio of a corporation. (z) decrea

Q : Economic cost Economic cost can best be

Economic cost can best be defined as: A) any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. B) any contractual obligation to labor or material suppliers. C) compensations that must be received by resource

Q : Elucidate GNI per capita Elucidate GNI

Elucidate GNI per capita?

Q : Maximizes profits when price equal to

A purely competitive firm will turn out where P = MC since this: (w) is good for society. (x) is all which is permitted through law. (y) maximizes profits. (z) permits price adjustment although not quantity adjustment.

Discover Q & A

Leading Solution Library

Avail More Than 1454057 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1922548
Asked

3,689

Active Tutors

1454057

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment