Law of Diminishing Merginal utility

Law of Diminishing Merginal utility: This states that as consumer consumes more and more units of commodity, the utility derived from each and every successive unit goes on decreasing. According to this law TU increases at decreasing rate and the MU decreases.

View Complete Question

Related Questions in Microeconomics

Q : Problem onto Saving and Spending Money

The owners of a construction company would not be saving when they collected a big check after finishing a project and after that bought: (w) a long term certificate of deposit at their local bank. (x) stock in a newly-formed corporation. (y) a corporate jet for use o

Q : Definition of Featherbedding Can

Can someone help me in finding out the right answer from the given options. The Featherbedding is: (i) Practiced by the migratory ducks and geese merely. (ii) Practiced by the female song birds each and every spring. (iii) Rousingly substituted by the water-bedding. (

Q : Additional Funds for Breaking Invention

If Bank of America helps link an inventor in require of additional funds to develop a ground breaking invention along with a retired school teacher along with excess savings, in that case they are performing: (1) love connections. (2) financial interm

Q : Limit Pricing Strategy When an

When an incumbent firm uses an edge pricing strategy: (w) this can maximize short run profits and discourage entry in the market. (x) this may not be maximizing short run profits, but this can make positive economic profits over the long run. (y) the

Q : Labor Unions and Inflation Even

Even although less than 12 percent of labor in the U.S. is unionized, numerous argue that unions are the primary cause of inflation as union wage hikes: (i) Cause unemployment that is inflationary. (ii) Frequently serve as the goals in recognizing non-union wage. (iii

Q : When is not total annual revenue

As per this demonstrated figure in below, unless something changes the total annual revenue of Robot Butlers, Inc. Can’t exceed: (1) $10,000. (2) $20,000. (3) $100 million. (4) $200 million. (5) $400 million.

Q : Set price equal to produce output

Assume that HoloIMAGine’s patents for holographic technology lapsed, as well as entry of new competitors within this market eroded the demand for HoloIMAGine technology, even though the firm retains several market power since competitors’

Q : Price taking and price making The price

The price makers within a purely competitive market are: (i) auctioneers (ii) buyers. (iii) sellers. (iv) both buyers and sellers. (v) nobody. I need a good answer on the topic of Economics problem

Q : Entry-exit in Long-run equilibrium of

A competitive industry is in long-run equilibrium only after: (w) net pressure for entry or exit is zero. (x) each firm produces to its capacity. (y) owners reap all the profits they desire. (z) union bosses and firm managers reach mutual agreements.<

Q : Measurement of income elasticity of

The income elasticity of demand is a measure of the receptiveness of: (w) demand to changes in income. (x) extra national income as Aggregate Demand grows. (y) supply curves to changes in demand. (z) price to changes in income.

Discover Q & A

Leading Solution Library

Avail More Than 1451546 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1951959
Asked

3,689

Active Tutors

1451546

Questions
Answered

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

Submit Assignment