« previous next »

Author Question: What does diminishing marginal utility mean? What will be an ideal ... (Read 50 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?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
Cultures Ideal Body Types Cultures Ideal Body Types
What are examples of ideal forms? What are examples of ideal forms?
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
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 ...
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Semidiscontinuous DNA replication

For a complete list of videos, visit our video library