--%>
Assignment Help - homework help

Define Marginal Utility

Marginal Utility: It is addition more to the net or total utility as consumption is increased by one more unit of commodity.

   Related Questions in Microeconomics

  • Q : Output From the heterodox approach,

    From the heterodox approach, what options does the enterprise need to produce more output? What effect do these options put on its cost structure?

    		•
  • Q : Price elasticity of demand coefficient

    A price elasticity of demand coefficient of infinity implies that: (w) the demand curve is horizontal. (x) each 1 percent price hike elicits a 1 percent increase in revenue. (y) total revenue increases proportionally as a firm increases its price. (z)

    		•
  • Q : Income-Satisfaction boundaries Demand

    The maximum amounts of a good that people are willing and capable to buy at different market prices during a specific period are depicted by: (1) Horizontal summations. (2) Income or satisfaction boundaries. (3) Demand curves. (4) Consumption possibilities frontiers.<

    		•
  • Q : Monopolist in the product market Can

    Can someone please help me in finding out the accurate answer from the following question. For a monopolist in a product market, the value of marginal product of the labor: (i) Equivalents the marginal revenue product of the labor

    		•
  • Q : Average variable costs with marginal

    All profit maximizing firms which are not shut down since demand never exceeds average variable costs will make where marginal revenue as: (w) excludes average revenue. (x) equals average variable cost. (y) equals mar

    		•
  • Q : Standard economic reasoning for price

    In the given figure as in below, demand curve D0D0: (w) has price elasticity of infinity. (x) is possibly for a luxury good. (y) is unitarily price elastic. (z) seems contrary to standard economic reasoning.

    Q : Question on utility function Assume a

     Assume a consumer with the given utility function: U = 3y1y2 + 5. Suppose y2 = 1, derive the marginal utility schedule for y1. In what direction is it moving?

    		•
  • Q : Small market capitalization Why would

    Why would stocks perform better in the month of January than other months of the year, and discuss whether small market capitalization companies outperform large capitalization companies in the short to medium term?

    		•
  • Q : Competition in Labor Markets The

    The horizontal labor supply curve signifies that: (i) The supply of labor is perfectly inelastic. (ii) The firm can hire as much labor as it requires at going wage rate. (iii) Labor and capital are in the fixed supply. (iv) Marginal physical product of the labor is co

    		•
  • Q : Risk-Return-Diversification The below

    The below table presents the three possible states for stocks A and B returns. (a) De

    		•