help in homework

New User?

Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / St

St

Economics

St. Philips College

ECON 101

Chapter 5

1)The law of diminishing marginal utility suggests that

 

  1. Utility refers to the

 

  1. The additional pleasure or satisfaction from a good declines as more of it is consumed in a given period. This is the definition of the

 

 

  1. As more satisfaction is achieved from consuming a good with diminishing marginal utility, then total utility

 

  1. When choosing among products, consumers look at

 

  1. Price discrimination

 

  1. Graphically, as a consumer buys more of a good, the marginal utility line will

 

  1. Sellers can gain profits from price discrimination because

 

 

  1. The                                surplus will rise if the price of the good                            .

 

  1. Price discrimination works best when

 

  1. Jose goes to an all-you-can-eat buffet at a Chinese restaurant and consumes three plates of food. He does not go back for a fourth plate of food because

 

  1. Total utility is maximized when

 

  1. Price discrimination occurs when

 

  1. The benefit that consumers get when they buy goods at the equilibrium price is called

 

  1. Which of these examples is an example of price discrimination?

 

  1. If the equilibrium price rises,

 

  1. A consumer maximizes total utility from a given amount of income when the

 

  1. A successful advertising campaign will

 

  1. If a good had a zero price (i.e., the good was free), a rational person would consume

 

  1. The slope of the budget constraint, when a consumer has reached optimal consumption of two goods, is equal to the

 

 

 

 

 

 

 

 

 

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

PFA

Download Attached File

Sitejabber (5.0)

BBC (5.0)

Trustpilot (4.9)

Google (5.0)

Related Questions