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What is law of equi marginal utility and explain with the help of schedule and diagram?
Wiki User
∙ 11y ago
Law of equi marginal utility refers " How a Consumer get Maximum Satisfaction From Various Commodities "
The Last Unit \ Penny of all the Goods Are Equal .
Wiki User
∙ 11y ago
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Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
When total utility is at its maximum where is marginal utility?
marginal utility is zero
When total utility increases marginal utility is?
marginal utility decreases
What is the difference between equi-marginal utility and diminishing marginal utility?
What is the difference between equi-marginal utility and diminishing marginal utility?Read more:What_is_the_difference_between_equi-marginal_utility_and_diminishing_marginal_utility
How does the principle of diminishing marginal utility explain the slope of the demand curve?
The principle of diminishing marginal utility explains the slope of the demand curve by letting us be able to see which direction the slope is in, which is always downward.
Explain the merits and demerits of law of diminishing marginal utility?
explain the demerits of diminishing marginal utility
Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
When total utility is at its maximum where is marginal utility?
marginal utility is zero
When total utility increases marginal utility is?
marginal utility decreases
What is the difference between equi-marginal utility and diminishing marginal utility?
What is the difference between equi-marginal utility and diminishing marginal utility?Read more:What_is_the_difference_between_equi-marginal_utility_and_diminishing_marginal_utility
What is marginal utility. why marginal utility diminishing. give atleast 10 examples where the marginal utility have not diminising?
Life-saving procedures
How does the principle of diminishing marginal utility explain the slope of the demand curve?
The principle of diminishing marginal utility explains the slope of the demand curve by letting us be able to see which direction the slope is in, which is always downward.
How does an individual or household benefit from the law of diminishing marginal utility?
what is it marginal utility
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
What is a sentence with marginal utility?
The expected marginal utility of the next unit of water is diminishing.
How can the demand curve be derived using the marginal utility theory?
Marginal utility is the key concept underline demand .The height of a demand curve reflects marginal utility.The marginal utility curve resembles the demand curve. So, it is through the marginal utility we get the demand curve.
Increasing marginal utility of goods?
Not possible. Law of Diminishing Marginal utility states that equal additions to a good provide smaller and smaller increases in utility, therefore marginal utility decreases.
