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Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
Cowgirl2802
explain the difference between total utility and marginal utility
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∙ 15y ago
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Marginal revenue curve?
Explain why the marginal revenue(MR) is always less than the average revenue (AR)?
Marginal productivity of labour and the demand for labour .?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
Who is consumers Explain?
Consumers are the Creatures that use up products.
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profits?
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
Explain the merits and demerits of law of diminishing marginal utility?
explain the demerits of diminishing marginal utility
What is the main idea in the marginal world?
The main idea in the marginal world is that individuals make decisions based on small changes at the margin, or the next unit. This concept is central to understanding how people allocate their resources and make trade-offs. It helps explain how individuals maximize their utility or satisfaction.
Marginal revenue curve?
Explain why the marginal revenue(MR) is always less than the average revenue (AR)?
Explain how to maximize a window to its original size?
just double click on the title bar OR you can click on the maximize button.
Marginal productivity of labour and the demand for labour .?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
Who is consumers Explain?
Consumers are the Creatures that use up products.
Explain about the consumers' taste for the good?
hahahahhahahhah
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profits?
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
Explain why the constant elasticity of substitution is considered superior to marginal rate of technical substitution?
Heap
Explain why a firm needs to know its short run production function to be able to calculate the costs of production?
In the fhort-run production, a firm can produce and various its quantities of inputs to maximize its profit in a period of time frame. Variable cost, fixed cost, total average cost, marginal cost ....profit.
What is diminishing marginal productivity explain with example?
the law diminishinf mean fixed cost and variable cost
Explain why marginal physical product would diminish as More professors are hired in the economics department?
zabi
