Probability of Law of Diminishing Marginal Utility

Can someone help me in finding out the right answer from the given options. Karina gets 27 utils from her first ice-cream cone in an hour, and 23 extra utils from the second that hour. Determine the number of utils is she likely to obtain from the third cone? (i) 15 utils. (ii) 19 utils. (iii) Probably less than 23 utils. (iv) Between 23 to 27 utils.

View Complete Question

Related Questions in Microeconomics

Q : Examples of pure economic rent The

The clearest illustrations of pure economic rent are payments: (1) for improvements which increase the productivity of resources. (2) to owners of unimproved land. (3) exceeding the productivity of a resource. (4) received by owners of homogeneous res

Q : Price elasticity of demand when price

When P = $10 for Tiny Tee-shirts, and Q = 20, but when P = $5, Q = 25. The price elasticity of demand for Tiny Tee-shirts of: (w) 3.0. (x) 1/3. (y) 1/2. (z) 21. Can anybody suggest me the proper explanation for giv

Q : Import cars in equilibrium When the

When the import car market is in equilibrium prior to the government limits car imports to Q1, the price that buyers will reimburse for an import: (1) Drops/falls from P0 to P1. (2) Is stable, although dealer gains fall by Q0 to Q1. (3) Increases from P0 to P2. (4) Ex

Q : Question 2 Explain the concept of a

Explain the concept of a concentration ration. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitve industry? Explain the answer

Q : AFC curve What does AFC curve appear

What does AFC curve appear like? Why does it appear so?

Q : Rent controls fix rent in equilibrium

Rent controls which fix rents below equilibrium will NOT: (w) maintain monetary rents down. (x) create shortages of rental housing. (y) stimulate non-market allocations of rental housing. (z) maintain the opportunity costs of housing down.

Q : Labor Productivity The American workers

The American workers tend to be much productive than their counterparts in the South America or Asia in part as they have: (i) Superior natural genetic endowments. (ii) Access to the better sports programming, that promotes the team-work. (iii) More capital to work wi

Q : Uniting individual sellers of labor Can

Can someone help me in finding out the right answer from the given options. Economically, the labor unions can be thought of as: (1) Motivating competition between workers for jobs. (2) Raising the flexibility of the nominal wages. (3) Attempts to cartelize and unite

Q : Wealth and poverty of poor and higher

Numerous studies have established which, associate to poor families, higher income families onto average have: (w) more children. (x) greater rates of labor force participation. (y) less human capital and more financial capital. (z) greater rates of p

Q : Expectations about future housing prices

The market demand curve for latest houses would shift in response to a modification in: (i) Housing prices. (ii) The costs of lumber. (iii) Construction technology. (iv) Expectations regarding future housing prices.

Discover Q & A

Leading Solution Library

Avail More Than 1442488 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1934379
Asked

3,689

Active Tutors

1442488

Questions
Answered

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

Submit Assignment