0
What else can I help you with?
Why does the marginal rate of substitution diminish?
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.
What is the relationship between consumer preferences and the law of diminishing marginal rate of substitution?
Consumer preferences refer to the choices individuals make when selecting goods and services. The law of diminishing marginal rate of substitution states that as a consumer substitutes one good for another, the marginal rate of substitution decreases. In simpler terms, as a consumer consumes more of one good, they are willing to give up less of another good to continue receiving the same level of satisfaction. This relationship between consumer preferences and the law of diminishing marginal rate of substitution highlights how individuals make trade-offs when making consumption decisions.
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
Does the law of diminishing marginal utility apply in love issues?
yes
What are the Limitation to Law of diminishing marginal utility?
http://wiki.answers.com/Q/What_are_the_Limitation_to_Law_of_diminishing_marginal_utility"
Why does the marginal rate of substitution diminish?
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.
What is the relationship between consumer preferences and the law of diminishing marginal rate of substitution?
Consumer preferences refer to the choices individuals make when selecting goods and services. The law of diminishing marginal rate of substitution states that as a consumer substitutes one good for another, the marginal rate of substitution decreases. In simpler terms, as a consumer consumes more of one good, they are willing to give up less of another good to continue receiving the same level of satisfaction. This relationship between consumer preferences and the law of diminishing marginal rate of substitution highlights how individuals make trade-offs when making consumption decisions.
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
Explain the merits and demerits of law of diminishing marginal utility?
explain the demerits of diminishing marginal utility
How does an individual or household benefit from the law of diminishing marginal utility?
what is it marginal utility
Does the law of diminishing marginal utility apply in love issues?
yes
Expain law of equi marginal utility or law of substitution with graph and its assumption?
law of equi marginal theory by suhail bba part 1salu
The law of diminishing marginal utility or satisfaction states that each additional unit of a product consumed will increase total satisfaction at what rate?
The law of diminishing marginal utility states that the total satisfaction derived from each additional unit of a product consumed decreases as more units are consumed. This means that the rate at which total satisfaction increases diminishes with each additional unit consumed.
What are the Limitation to Law of diminishing marginal utility?
http://wiki.answers.com/Q/What_are_the_Limitation_to_Law_of_diminishing_marginal_utility"
Who gave the concept of law of diminishing marginal utility?
It is William Stanley Jevons
Example of law of diminishing marginal utility?
the more you have of an item the less you want
What are the economic concepts that explains the law of demand?
substitution diminishing marginual utility income
