The expected marginal utility of the next unit of water is diminishing.
marginal utility is zero
marginal utility decreases
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
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what is it marginal utility
the criticisma of the law of diminishing marginal utility
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.
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.
If marginal utility is positive will you have total utility increase with additional consumption?
explain the difference between total utility and marginal utility
As a matter of fact, law of diminishing marginal rate of substitution conforms to the law of diminishing marginal utility. According to law of diminishing marginal utility, as a consumer increases the consumption of a good, its marginal utility goes on diminishing. On the contrary, if the consumption of a good decreases, its marginal utility goes on increasing.
total utility and marginal utility are the same for the first unit of good consumed.