Describe the terms marginal utility and diminishing

Assignment Help Microeconomics
Reference no: EM13452162

1. What assumptions about preferences imply that indifference curves have the "bowed-in" shape they are assumed to have?

2. Explain the terms marginal utility and diminishing marginal utility in your own words, using the utility function graph in your explanation.

 

Reference no: EM13452162

Questions Cloud

The following information was taken from the accounting : the following information was taken from the accounting records of palmetto company for the month of januarybalance per
Describe the rationale behind taxonomists placing sharks : discuss the rationale behind taxonomists placing sharks and dolphins in different taxonomic groups even though they are
Write the definitions for marginal rate of substitution mrs : give the definitions for marginal rate of substitution mrs and the price ratio. then explain them in your own words
Which of the following tend to be non-differential in the : which of the following tend to be non-differential in the short term since they cannot be changed but are more likely
Describe the terms marginal utility and diminishing : 1. what assumptions about preferences imply that indifference curves have the bowed-in shape they are assumed to
Which of the following aspects of a company would not be : 1. which of the following aspects of a company would not be considered a critical success factor for a company that
Which of the given will make supply of the firms : 1. which of the following will ceteris paribus will cause an increase in the supply of whole wheat cereal?a.
Is there a difference in approach to valuation by us gaap : the main purpose of this module is to review the balance sheet in more detail.is there a difference in approach to
Distinguish among the three fungal phyla zygomycota : differentiate among the three fungal phyla zygomycota ascomycota and basidiomycota on the basis of their reproduction

Reviews

Write a Review

Microeconomics Questions & Answers

  Question 1 suppose ve rational roommates are deciding on a

question 1. suppose ve rational roommates are deciding on a place to have coee together. there are four alternatives

  1 why might you expect to see flat royalty payments in

1. why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchises

  Explain what the rate of money growth should equal

At times, people will suggest that the Fed should try and achieve an inflation rate of zero percent. If we assume that velocity is constant, does this goal of zero inflation require that the rate of money growth equal zero.

  Difference between private, public and open access goods

Explain and discuss the differences between private goods, public goods, natural monopolies, and open-access goods.

  Demand curve for chiropractic visits

Estimate whether and how each of the following factors would shift demand curve for chiropractic visits; an increase in the out of pocket price of chiropractic visits.

  1 which of the following best describes what happens when

1. which of the following best describes what happens when consumer income increases?a there is a shift to the right in

  Explain who has a comparative advantage in the production

Explain who has a comparative advantage in the production of oranges and who has the advantage in the production of apples. (Show all math involved in your answer)

  Charge of development for your housing nonprofit

Charge of development for your housing nonprofit and assuming that your non-profit is risk-neutral, which grant should you apply for

  How to increase returns of bank

Want the duration of its assets to be greater than the duration of its liabilities - a positive duration gap.Want the duration of its assets to be greater than the duration of its liabilities - a negative duration gap.

  What is the fixed cost for system i and system ii

Two automatic systems for dispensing maps are being compared by the state highway department. The accompanying breakeven chart of the comparison of these systems (System I vs. System II) shows total yearly costs for the number of maps dispensed pe..

  Recognize economic implications of each plan for

you are a member of a presidential commission appointed to consider a mandatory national health insurance plan and the

  How will international trade influence people production

What is the law of comparative advantage? According to the law of comparative advantage, what should be the distinguishing characteristics of the goods a nation produces?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd