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Does the law of diminishing marginal utility apply in love issues?
Wiki User
∙ 11y ago
yes
Wiki User
∙ 11y ago
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Is it any good service or activity which does not eventually exhibit diminishing marginal utility per unit of time?
When the phrase 'insatiable appetite' is used to refer to any activity, and we are reasonable confident that it is relevant and applicable to that activity, then we could begin a critical investigation of whether the law applies to it or not. One activity that immediately comes to mind is the longer term quest that scientists, academics, researchers or simply, nerds demonstrate consistently is an 'Insatiable Appetite' for knowledge or information, over a long term. There cannot be any diminishing utility for such persons to the pursuit of knowledge. Pursuit of Knowledge, as an activity therefore presents a situation for some of us, where diminishing marginal utility may not apply. Sabdezar Ilahi
What are some exceptions to the law of diminishing marginal utility?
1. No limit of knowledge.2. Law does not apply on hobbies.3. Social status (Human ego).4. Does not apply on money or wealth.the diminishing marginal utility law fails under certain vocation. following are the points where the this law fails.1. in knowledge this law fails because any one who gains more and more education he feels more and more pleasure.2. on earning money the consumer does not diminish his thirst.3. if a man finds more and more rare articles he feels more and more pleasure.4. use of intoxicants give more and more happyness.
What is the best explanation of why the law of diminishing returns does not apply in the long run?
All factors of production are variable in the long run.
The law of diminishing marginal utility says that as you consume more of something the satisfaction that you get from each additional unit .?
Auuumptions:This law is based on following assumptions and this law is applicable only if these assumptions are true. There are following:1: Continuous use: It is assumed that the unit of commodity should be used continuously. If there is interval between the consumption of the same units then this law will not applicable.2: Reasonable units: It is also assumed that the units of commodity which are used should be suitable and reasonable. if the units are too small, then law will not be operate.3: Nature of commodity: It is also assumed that the income of the consumer should not change. Otherwise this law will not operate.4: No Change in fashion: It is also assumed that there should be not change in fashion. If there is a sudden change in fashion then this law will not be operate.5: No change in prices of substitutes: There should be no change in prices of substitutes. If the price of substitute change then demand of the commodity increases and this law will not be true.6: No change in taste: There should be no change in the taste of consumer. For example if a consumer develops the taste of wine, then every next unit of wine increase marginal utility, which is against of our law.7: No change in weather: Another assumption is that the weather will be remains unchanged. If weather changed then demand of certain commodity changes and this law will not be operated.8: Rare Collection: The law does not apply in the case of rare collections. If a person has a hobby of collecting rare coins, the larger number he collects the greater will be his happiness, whereas according to this law it should be less and less,
What is knowledge utility?
It has been argued that the application or utilisation of knowledge is wisdom. The ability to apply ones knowledge to the befit of goals, either for self or others.
Is it any good service or activity which does not eventually exhibit diminishing marginal utility per unit of time?
When the phrase 'insatiable appetite' is used to refer to any activity, and we are reasonable confident that it is relevant and applicable to that activity, then we could begin a critical investigation of whether the law applies to it or not. One activity that immediately comes to mind is the longer term quest that scientists, academics, researchers or simply, nerds demonstrate consistently is an 'Insatiable Appetite' for knowledge or information, over a long term. There cannot be any diminishing utility for such persons to the pursuit of knowledge. Pursuit of Knowledge, as an activity therefore presents a situation for some of us, where diminishing marginal utility may not apply. Sabdezar Ilahi
What are some exceptions to the law of diminishing marginal utility?
1. No limit of knowledge.2. Law does not apply on hobbies.3. Social status (Human ego).4. Does not apply on money or wealth.the diminishing marginal utility law fails under certain vocation. following are the points where the this law fails.1. in knowledge this law fails because any one who gains more and more education he feels more and more pleasure.2. on earning money the consumer does not diminish his thirst.3. if a man finds more and more rare articles he feels more and more pleasure.4. use of intoxicants give more and more happyness.
What are the examples of marginal utility in day to day life?
When you're hungry, and someone presents you with a plate of french fires. You eat one fry to ease your hunger, then you eat a second, third...43rd etc. The amount of, I guess, satisfaction that comes from each fry consumed would be the marginal utility. You can apply it to any similar situation; I prefer to use food since I love it so much. P.S. I don't study biology, so my economic knowledge might not be up to par, but I figured you needed an answer, and hopefully mine is correct. Cheers
What is the best explanation of why the law of diminishing returns does not apply in the long run?
All factors of production are variable in the long run.
Where will you apply marginal costing?
Marginal costing is the ascertainment of cost of one extra unit to be prepared or manufactured. Basically thee formula is- (Marginal Cost)n = (Total Cost)n - (Total Cost)n-1 for nth item . Through marginal costing we can ascertain whether our cost of production is rising, falling or constant and thus it helps in formation of a strategic plan for the enterprise.
If a company's debt is low does marginal cost of capital apply?
Weighted average cost of capital includes cost of debt and cost of equity. Thus irrespective of existing proportion of debt and equity, the marginal cost is always applicable.
The law of diminishing marginal utility says that as you consume more of something the satisfaction that you get from each additional unit .?
Auuumptions:This law is based on following assumptions and this law is applicable only if these assumptions are true. There are following:1: Continuous use: It is assumed that the unit of commodity should be used continuously. If there is interval between the consumption of the same units then this law will not applicable.2: Reasonable units: It is also assumed that the units of commodity which are used should be suitable and reasonable. if the units are too small, then law will not be operate.3: Nature of commodity: It is also assumed that the income of the consumer should not change. Otherwise this law will not operate.4: No Change in fashion: It is also assumed that there should be not change in fashion. If there is a sudden change in fashion then this law will not be operate.5: No change in prices of substitutes: There should be no change in prices of substitutes. If the price of substitute change then demand of the commodity increases and this law will not be true.6: No change in taste: There should be no change in the taste of consumer. For example if a consumer develops the taste of wine, then every next unit of wine increase marginal utility, which is against of our law.7: No change in weather: Another assumption is that the weather will be remains unchanged. If weather changed then demand of certain commodity changes and this law will not be operated.8: Rare Collection: The law does not apply in the case of rare collections. If a person has a hobby of collecting rare coins, the larger number he collects the greater will be his happiness, whereas according to this law it should be less and less,
Can you get a patent where you use an existing material but for a previously unthought of application or use?
Yes; you would apply for a "utility" patent.
How do you apply for water meter for your house?
In most cases you have to apply for a water meter from your local water utility company. Contact them and let them know that you will like for a water meter to be installed.
What contractual issues would apply in the interactive media industry?
babatoondai
How long after you file bankruptcy will yoube able to apply for utility service?
You can right away but they will probably require you to pay a higher deposit.
What is the packet of preexisting beliefs that people apply to specific issues called?
Opinion schema.
