0
Which type of utility can only be added by the maker of the product?
Wiki User
∙ 9y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the economic doctrine of final utility?
Taking no account of the cost of a certain product, but only of the price at which most people will find it worth their while to buy. :)
Explain the relationship between total utility and marginal utility?
Total Utility can mean the total amount of satisfaction gained from the purchase or consumption of a product. Marginal Utility is the amount of satisfaction gained from purchasing or consuming more of the same product. For Example: If you purchased two slices of Pizza, Your total utility would be the satisfaction you receive from consuming both slices. Your marginal utility would be the satisfaction you gained consuming an additional slice (i.e. The difference between consuming two slices versus one slice) Typically your marginal utility decreases as your consumption increases. For Example: If you have eight pizzas, one extra slice is not likely to bring you as much satisfaction as a second slice would if you only had one slice of pizza (as opposed to eight pizzas).
Why is it wrong to say utility is maximized when the marginal utilities of all goods are exactly equal correct the statement and explain?
Utility is only consider as maximized when the last dollar spent on each goods are equal. or v can say ( when the marginal utility of the last dollar spent on each good is exactly the same as the marginal utility of the last dollar spent on any other good ) .
What are utility characters in a play?
Utility characters are functionaries whose only purposes are to set the tone, establish atmosphere, and deliver messages. i.e.: Chorus members, extras, cameos.
Can marginal utility increase?
Yes. Let's say I need $5 for a cheeseburger, but I only have $4. the marginal utility of dollars 1,2,3, and 4 is zero, because none of them allow me to buy the cheeseburger. That fifth dollar, however, has an entire cheeseburger's worth of utility in it.
How diminishing law guides consumer to get equilibrium?
A consumer buys/consumes a product only if marginal utility derived from it is more than marginal utility of money. As he continues consuming the marginal utility derived from every additional unit goes on diminishing but marginal utility of money remains constant. Both utilities match at a place i.e; where marginal utility of product becomes equal to marginal utility of money the consumer stops consumption thus equilibrium is struck.
How do you put ccc success maker on your computer?
you have to download sucess maker but it is only for schools you have to download sucess maker but it is only for schools you have to download sucess maker but it is only for schools you have to download sucess maker but it is only for schools you have to download sucess maker but it is only for schools
What is the economic doctrine of final utility?
Taking no account of the cost of a certain product, but only of the price at which most people will find it worth their while to buy. :)
Explain the relationship between total utility and marginal utility?
Total Utility can mean the total amount of satisfaction gained from the purchase or consumption of a product. Marginal Utility is the amount of satisfaction gained from purchasing or consuming more of the same product. For Example: If you purchased two slices of Pizza, Your total utility would be the satisfaction you receive from consuming both slices. Your marginal utility would be the satisfaction you gained consuming an additional slice (i.e. The difference between consuming two slices versus one slice) Typically your marginal utility decreases as your consumption increases. For Example: If you have eight pizzas, one extra slice is not likely to bring you as much satisfaction as a second slice would if you only had one slice of pizza (as opposed to eight pizzas).
How calculate economics value added?
The value added concept is a mainstay of modern economics. Let's use a simple example: 1) A widget maker has a fixed cost of creating a widget at $5. 2) The average consumer is willing to pay $10 for a widget. 3) The widget maker sells the widget for $7. In this case, the total "value added" is the difference between what the average customer is willing to pay ($10) and the cost of the good ($5). In this example, the value added would be: $5. The next question: how is that value distributed? Since the widget maker creates the widget at $5 and sells at $7, there is $2 of value going to the widget maker. Since the average consumer is willing to pay $10 but only pays $7, there is $3 of value added to the consumer. --- Now - what if the widget maker sold the widget at $9. In this case the average consumer would not purchase the widget. What if the widget maker sold the widget for $4? In this case the widget maker would be selling below cost (which would lead to losses).
Is it accurate to claim that all organization add value if they are successful?
It depends on how your organization defines "value". In a strictly manufacturing environment, "value added" refers only to processes that change the characteristics of the component or product. So if the organization successfully changes the characteristics of the product or component, then it is value-added. Also an organization can be "value-added" and not be successful.
What is the best Nintendo ds game maker?
The best and only DS Game Maker in development is called 'DS Game Maker'. You can download it from http://www.dsgamemaker.comIn reference to the previous answer (which I have included below), I believe the asker was looking for a product, not an organisation, or else he/she would have put: 'WHO is the best DS Game Maker?'.Previous Answer: Nintendo, they make all the Pokemon games, with help from game freak, and they also make Mario
How do you reduce my utility bill?
Only with a reduction is usage.
Where can you get windows movie maker 2.6 for xp?
Windows Movie Maker 2.6 is a Vista ONLY download. Unfortunately, Xp users can only download the 2.1 version of Windows Movie Maker.
Why is it wrong to say utility is maximized when the marginal utilities of all goods are exactly equal correct the statement and explain?
Utility is only consider as maximized when the last dollar spent on each goods are equal. or v can say ( when the marginal utility of the last dollar spent on each good is exactly the same as the marginal utility of the last dollar spent on any other good ) .
If a professional coffee maker is a barista and a bartender is a mixologist then what is a professional sushi maker called?
"Sushi chef" is the only title I am familiar with for a professional sushi maker.
Which models of the Kuerig coffee maker would you recommend for a home with only two people?
Any model of the Kuering coffee maker will be good for only two people. Since the coffee maker only makes one cup at a time you do not have to worry about wasting coffee.
