Criticism

Criticism:

The Law of DMU is criticized on the grounds illustrated below:

1) Deriving utility is a psychological experience, whenever we say a unit of X provides ten units of utility, this means that utility can be calculated precisely. In actuality, utility can’t be measured. For illustration, whenever a person sees a film and says it is very first-class, we can’t measure the utility he has derived from it. Though, we can compute utility indirectly by the cinema fare he is willing to disburse.

2) The Law depends on a single commodity consumption mode. That is, a consumer utilizes only one good at a time. This is an impractical supposition. In real life, a consumer utilizes more than one good at a time.

3) According to the Law, a consumer must consume consecutive units of similar good continuously. In actual life it is not so.

4) The Law supposes constancy of the marginal utility of money. It means that the marginal utility of money stays constant, even whenever money stock changes. In real life, the marginal utility derived from the consumption of a good can’t be measured accurately in monetary terms.

5) As utility itself is able of differing from person to person, the marginal utility is derived from the consumption of a good can’t be measured accurately.

 

Latest technology based Economics Online Tutoring Assistance

Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Theory of Consumer Behavior help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Theory of Consumer Behavior, project ideas and tutorials. We provide email based Theory of Consumer Behavior help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Theory of Consumer Behavior. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Theory of Consumer Behavior. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.