It reflects the peak of the Average Product Curve O a Declining Marginal Utility O b. Diminishing Point of Returns c. Point of Diminishing Average Productivity O d. Revenue Maximizing Point
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- D Quantity Refer to the graph shown. Between points B and D, marginal utility is: increasing, and so total utility is falling. increasing, and so total utility is at its maximum. positive, and so total utility is falling. positive, and so total utility is increasing. Marginal UtilityDmISIIng Margifal Otmty n. TOTAL AND MARGINAL UTILITY Reset E UTILITY CALCULATIONS Total Utility Quantity Consumed Total Marginal Utility 70 Utility 60 50 22 40 1 22 30 18 20 40 10 14 2 3 4 54 Quantity Consumed 10 Marginal Utility 4 64 20 6. 10 70 3. 6. -10 6. 72 -20 -2 7 70 Quantity Consumed Quantity Consumed -6 8. 64 8 Prev 1 of 3 Score answer > ...ASAP DECİSİON RULE FOR UTİLİTY MAXİMİZATİON As I understand we choose the good which has higher marginal utility per dollar . BUT MY QUESTİON İs that What if our budget is not end up and the marginal utility per dollar is same for both good What should we do at that point? PLEASE ANSWER MY QUESTİON DONT GİVE CLLASİC DEFİNİTİON
- Which among the following is not true?Select one:a. None of the answers are correctb. When marginal utility declines, a higher price is needed to induce the consumer tobuy more of a particular productc. When marginal utility declines, a lower price is needed to induce the consumer tobuy more of a particular productd. All the answers are correcte. Utility maximizing rule and the demand curve are logically consistenthow substitution effect effects purchase decision of consumer?Number Consumed Total Utility Marginal Utility 0 0 NA 1 9 9 2 19 10 3 27 8 4 35 9 5 42 7 6 42 0 7 40 -2 When does diminishing marginal utility begin to set in?
- If point XYZ falls on different level pf indifference curve, what wil happen? a. point x maybe higher that point y or vice versa and well as Z b. the will have same quantity combination c. it will cost so much d. the will have different level of satisfaction If point XYZ falls on different level of indifference curve, what will happen? a. XYZ will have same quantity combination b. satisfaction is the same c. no satisfaction is derived because it doesn't have a cost d. point z will equal point x and y in yielding satisfaction More than zero but less than one is what kind of price elasticty a. relatively elastic b. relatively inelastic c. perfectly elastic d. perfectly inelasticWhat demand structure do products which are urgently needed as necessities likely to possess. a. Elastic b. Inelastic c. relatively elastic d. perfectly inelastic If you have Marginal utility of 2 with a Total utility equals to 56, then when marginal utility is reduce to zero while Total utility remains the same, what does it mean? a. satisfaction diminishes b. TU is maximum c. Quantity diminishes d. Marginal utility is maximum If you have Marginal utility of 2 with a Total utility equals to 56, then when marginal utility is reduce to zero while Total utility remains the same, what does it mean? a. at 56 utils of MU equals zero, utility begins to gain momentum b. at 56 utils of MU equals zero, utility begins to diminish c. at 56 utils of MU equals zero. utility begins to increase d. at 56 utils of MU equals zero, utility begins to upswingb. Why marginal utility per dollar must equate across products to result in utility-maximizing condition?
- How does a consumer decide what combination of products to buy using the marginal utility concept? Explain. Please don,t copy from anywhere. Please answer step by step. if posssible use graph.Q- Marginal utility can never be negative. True/FalseQuèstion 7 When total utility begins to decline marginal utility will be positive but it will decrease О Tue False