« previous next »

Author Question: What does diminishing marginal utility mean? What will be an ideal ... (Read 42 times)

javeds

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
What does diminishing marginal utility mean?
 
  What will be an ideal response?

Question 2

A major function of incentive payments, guarantees, and signals is to enable markets to overcome the problem of
 
  A) irrational forecasting.
  B) efficient forecasting.
  C) private information.
  D) public information.


flexer1n1

  • Sr. Member
  • ****
  • Posts: 373
Reply #1 on: Jun 29, 2018
Answer to Question 1

As the consumption of a good or service increases, the marginal utility decreases. For example, the first cup of coffee you drink in the morning will give you great satisfaction. As you keep on drinking more and more cups of coffee, the satisfaction from additional cups will diminish.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

javeds

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jun 29, 2018
Thank you


flexer1n1

  • Sr. Member
  • ****
  • Posts: 373
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
What are examples of ideal forms? What are examples of ideal forms?
A utility knife uses replaceable blades and can cut carpet and other materials. A utility knife uses replaceable blades and can cut carpet and other materials.
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ... A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ...
Video: Mendel's pea plant, Pisum sativum experimental

For a complete list of videos, visit our video library