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Is it possible for marginal utility to be negative in economic theory?
Yes, it is possible for marginal utility to be negative in economic theory. This occurs when consuming an additional unit of a good or service decreases overall satisfaction or utility.
What are differences between marginal utility and total utility?
Topic Marginal Utility Total Utility 1. Definition Marginal utility is the extra satisfaction which a consumer gets from consuming additional units of goods. Total utility is the sum of total satisfaction of a consumer derives from consumption of a particular good. 2. Feature It can be negative. It can't be negative. 3. Sloping It is downward sloping. It is upward sloping.
What will happen to the utility of a good as more of it is consumed?
The marginal utility will diminish (that is, it remains positive but its incremental change is negative).
When total utility is at its maximum where is marginal utility?
marginal utility is zero
When total utility increases marginal utility is?
marginal utility decreases
What is the difference between equi-marginal utility and diminishing marginal utility?
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
What is marginal utility. why marginal utility diminishing. give atleast 10 examples where the marginal utility have not diminising?
Life-saving procedures
How does an individual or household benefit from the law of diminishing marginal utility?
what is it marginal utility
How the slope of the demand curve can be explained by the principle of marginal utility?
The demand curve is negatively sloped because it is based on the principle of marginal utility and this utility decreases as consumption increases. The demand price which depends on the marginal utility of a good also declines as consumption increases, so quantity and price are inversely related, leading to the negative curve and the law of demand.
What is a sentence with marginal utility?
The expected marginal utility of the next unit of water is diminishing.
Criticism of law of diminishing marginal utility?
the criticisma of the law of diminishing marginal utility
How can the demand curve be derived using the marginal utility theory?
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.
