--%>
Assignment Help - homework help

Decreasing Marginal Utility

Can someone help me in finding out the right answer from the given options. The diminishing marginal utility law defines that: (i) Net utility rises up to a point and then reduces as more units of good are consumed. (ii) Net utility reaches a negative value if the good is thought a bad. (iii) Marginal utility reduces after some point, as more units of the goods are used up. (iv) None of the above.

   Related Questions in Microeconomics

  • Q : Problem on purchasing newly-issued

    Can someone please help me in finding out the accurate answer from the following question. The individual who purchases a newly-issued corporate bond is: (i) Borrowing money from corporation. (ii) Lending money to corporation. (iii) Purchasing a share of corporation.

    		•
  • Q : Stream of Present Value of Annual Income

    The present value of an annual income stream which goes onto forever is: (w) infinite. (x) zero. (y) the annual income multiplied through the interest rate. (z) the annual income divided through the interest rate.

  • Q : Perfect competition ‘In the real world

    ‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value

    		•
  • Q : When is short run profit maximized

    Short-run profit is maximized only while: (w) economic profit > accounting profit. (x) total cost = total revenue. (y) MC = MR (greater than minimum AVC). (z) costs are minimum or revenue is maximum. How can I s

    		•
  • Q : Equality between marginal revenue and

    A profit-maximizing monopolist which does not price discriminate and that faces a demand curve that is higher at some output levels than is the firm’s average variable cost curve finds out price and quantity where: (w) profit pe

    		•
  • Q : Example of acquisitions of merger The

    The Overpriced Petroleum Extraction Company (or OPEC) has just declared its acquisition of some small firms with facilities which will permit OPEC to process oil via the whole refining procedure, from oil field recovery via transporting and then trading the refined pe

    		•
  • Q : Marginal revenue product-marginal

    When a monopolist maximizes the profit in a product market, it will: (w) Hire labor till the marginal revenue product equivalents marginal resource cost. (x) Hire labor till the value of marginal product equivalents marginal resource cost. (y) Pay a wage equivalent to

    		•
  • Q : International demand or supply affected

    Sixty Chinese manufacturers have started producing generic staplers. Since each factory is very small to noticeably influence the international demand or supply for staplers, every firm is: (1) a cartelized seller. (2) a price taker. (3) a primary goo

    		•
  • Q : Opportunity costs in different prices

    While a firm is NOT able of price discrimination: (w) various prices are charged for units of remotely related goods. (x) only opportunity costs are reflected in various prices for units of similar good. (y) any short term profit stimulates long run l

    		•
  • Q : Screening and Credentialism The critics

    The critics of ‘credentialism’ suppose that firms making employment decisions tend to mainly rely too heavily on: (i) Personal contacts. (ii) Personality testing. (iii) Past experience. (iv) Job interviews. (v) Formal education and trainin

    		•