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What is the difference between equi-marginal utility and diminishing marginal utility?
Wiki User
∙ 11y ago
What is the difference between equi-marginal utility and diminishing marginal utility?
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Wiki User
∙ 11y ago
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Clearly differentiate between diminishing marginal utility and diminishing marginal returns?
utility: means a level of satsfection. marginal utility:an extra unit gain my consumer/consumation of addational unit. deminishing marginal utility:when a person reachs his max level of satsfection by consuming a specific product then his utility will be falling by incresing the rate of consuming goods. diminishng marginal return & Diminishing marginal utility is same.
What is marginal profit?
In economics, marginal profit is the difference between the marginal revenue and the marginal cost of producing an additional unit of output.
Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
What is the difference between marginal cost and standard cost?
The main difference between standard cost and marginal cost is that in standard cost a target is set and in marginal cost there is no target set. Marginal cost is the change of the total cost due to the quantity produced.
What is the difference between diminishing returns and diseconomies of scale?
The principle of diminishing marginal returns to inputs is when more on one input is added, while other inputs are held constant, the marginal product of the input diminishes. Diseconomies of scale or decreasing returns to scale is when the a firm doubles its inputs, output increases by less than double. With diminishing returns, only one input is being changed while holding the other is fixed. But for decreasing returns, both inputs may change
Clearly differentiate between diminishing marginal utility and diminishing marginal returns?
utility: means a level of satsfection. marginal utility:an extra unit gain my consumer/consumation of addational unit. deminishing marginal utility:when a person reachs his max level of satsfection by consuming a specific product then his utility will be falling by incresing the rate of consuming goods. diminishng marginal return & Diminishing marginal utility is same.
What is total utilitymarginal utility d low of diminishing marginal utility and draw the thoeretical mathematical diagramatically relationship between total and marginal utility?
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What is marginal profit?
In economics, marginal profit is the difference between the marginal revenue and the marginal cost of producing an additional unit of output.
Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
What is the difference between marginal cost and standard cost?
The main difference between standard cost and marginal cost is that in standard cost a target is set and in marginal cost there is no target set. Marginal cost is the change of the total cost due to the quantity produced.
What is the difference between diminishing returns and diseconomies of scale?
The principle of diminishing marginal returns to inputs is when more on one input is added, while other inputs are held constant, the marginal product of the input diminishes. Diseconomies of scale or decreasing returns to scale is when the a firm doubles its inputs, output increases by less than double. With diminishing returns, only one input is being changed while holding the other is fixed. But for decreasing returns, both inputs may change
What is the difference between the marginal product of labor and the marginal revenue product of labor?
moarginal product of labor
What is the difference between price and average cost?
marginal cost
What is the differences between standard cost and marginal cost?
The main difference between standard cost and marginal cost is that in standard cost a target is set and in marginal cost there is no target set. Marginal cost is the change of the total cost due to the quantity produced.
What is MVP in economics?
Marginal Variable Product (MVP) = Difference between TVP2 - TVP1
Difference between marginal efficiency of investment and marginal efficicency of capital?
MEC is the expected rate of return on capital and MEI is the expected rate of return on investment.
When was Diminishing Between Worlds created?
Diminishing Between Worlds was created in 2007.
