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How does an individual or household benefit from the law of diminishing marginal utility?
what is it marginal utility
When total utility increases marginal utility is?
marginal utility decreases
When total utility is at its maximum where is marginal utility?
marginal utility is zero
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
Explain the relationship between total utility and marginal utility?
Marginal Utility is the derivative of Total Utility
The concept of marginal utility involves?
The concept of marginal utility involves
What is marginal utility. why marginal utility diminishing. give atleast 10 examples where the marginal utility have not diminising?
Life-saving procedures
Relationship of total and marginal utility?
Relationship of total and marginal utility- 1.when total utility increases,marginal also increases. 2.when total utility is at it`s maximum point,marginal becmes zero. 3.when total utility starts declning,marginal becomes negative.
What is a sentence with marginal utility?
The expected marginal utility of the next unit of water is diminishing.
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
If marginal utility is positive will you have total utility increase with additional consumption?
If marginal utility is positive will you have total utility increase with additional consumption?
Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
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