Explanation of marginal utility:
Assume Mr. X is hungry and eats apple one at a time. The first apple provides him great pleasure (i.e., higher utility) as he is hungry; whenever he takes the second apple, the extent of his hunger will decrease. Hence he will derive less utility from the second apple. When he prolongs to take additional apples, the utility derived from third apple will be less than that of the second one. In this manner, the additional utility (i.e., marginal utility) from extra units will go on reducing. When the consumer continues to take additional apples, marginal utility falls to zero and becomes negative.
Tables: Total and Marginal utility schedule
Figure: Total and Marginal utility curves
The above table provides the utility derived by a person from successive units of utilization of apples.From the table above and figure above. It is very clear that the marginal utility (i.e., addition made to the net utility) goes on declining. The customer derives 20 units of utility from first apple he consumes. Whenever he consumes the apples constantly, the marginal utility falls to 5 units for the fourth apple and becomes zero for fifth apple. The marginal utilities are negative for 6th & 7th apples. Therefore whenever the consumer consumes a commodity continuously, the marginal utility declines, and reaches zero and then becomes negative.The net utility (i.e., sum of utilities of all the units consumed) goes on rising and after a certain phase starts to decline. Whenever the marginal utility declines and it is bigger than zero then the total utility rises. For the primary four units of apple, the total utility rises from 20 units to 50 units. Whenever the marginal utility is zero (i.e., 5th apple), the total utility is steady (i.e., 50 units) and arrives at the maximum. Whenever the marginal utility becomes negative (i.e., 6th and 7th units), the total utility refuses from 50 units to 45 and then to 35 units.
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.
Life cycles in fungi tutorial all along with the key concepts of Phytophthora, Asexual Reproduction in fungi, Sexual Reproduction in fungi and Rhizopus
tutorsglobe.com gene mutations assignment help-homework help by online modern concept of natural selection tutors
tutorsglobe.com mono phosphate cleavage assignment help-homework help by online atp as high energy compound tutors
TutorsGlobe.com Liquids Assignment Help-Homework Help by Online Access Chemistry Tutors
Any program which is generated in the studio must be captured ‘through the camera and converted as signal. In this stage synchronizing and deflection pulses are also generated.
to learn the two inputs of the arithmetic circuits of half adder, full adder and flip flops using ics.
asymmetric information theory and key concepts of asymmetric information, adverse selection, Signaling, nondiscriminatory auction, contingent payment and discriminatory auction, answering questions to managerial economics homework help, assignment help.
tutorsglobe.com improved varieties assignment help-homework help by online biology in human welfare tutors
www.tutorsglobe.com offers cartesian coordinate homework help, cartesian coordinate assignment help, online tutoring assistance, geometry mathematics solutions by online qualified tutor's help.
Theory and lecture notes of Understanding the Growth Model all along with the key concepts of understanding the growth model, growing economy, Growth of Capital per Worker, Capital-Output Ratio, Steady State Growth Path. Tutorsglobe offers assignment help and tutor’s assistance on Understanding the Growth Model.
Theory and lecture notes of Model of consistency all along with the key concepts of model of consistency, Lock protocols, definition of consistency, Formalize dirty and commited data. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Model of consistency.
reactions of hydrocarbons tutorial all along with the key concepts of reaction with bromine, reaction with concentrated sulphuric acid, reaction with potassium permanganate, physical properties of hydrocarbons, chemical properties of hydrocarbons
monopoly and its characteristics: a monopoly condition means an exclusive ownership of a market by a supplier of a product or a service for which there is no substitute or alternative available.
We deliver the faultless E-Commerce Assignment Help service at finest price. Get instant assistance by apt tutors and score high grades.
www.tutorsglobe.com offers ionic compound homework help, ionic compound assignment help, online tutoring assistance, inorganic chemistry solutions by online qualified tutor's help.
1934359
Questions Asked
3689
Tutors
1496332
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!