The law of diminishing marginal utility states that as more units of a good are consumed, the marginal utility from the consumption of the next unit becomes lesser. John's total utility from the consumption of two ice creams is 10, and his total utility from the consumption of three ice creams is 9.7.
<h3>What does the law of diminishing marginal utility State?</h3>
- According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.
- The incremental improvement in utility brought on by consuming one more unit is known as marginal utility.
<h3>Which law does the law of diminishing marginal utility affect?</h3>
- According to the law of diminishing marginal utility, a good or service's marginal utility decreases the more of it is used by a person.
- Consuming increasing quantities of a good gives economic actors less and less pleasure.
<h3>What is law of diminishing marginal returns?</h3>
- According to the law of declining marginal returns, increasing the number of production factors leads to lesser increases in output.
- The addition of any more of a production element after a certain level of capacity utilization would unavoidably result in lower per-unit incremental returns.
Learn more about diminishing marginal utility here:
brainly.com/question/13084220
#SPJ4
Business ethics will never tell you exactly what to do in all decisions. The study of business ethics is designed to help you understand the importance of your decisions, inform you of impacts, describe the ethical decision-making process, and help you recognize ethical issues, but it will not tell you what to do. It will simply give you the tools necessary to make a decision.
Answer:
making loans to the government
Me and my sister are in high school, and need tutoring in geometry and algebra 2, could she help?
Answer:
-1.0 million
Explanation:
the debt issued in the second year is equal to the sum of the excess of revenues over outlays
in year 1, debt = $1.0 million - $1.5 million = $-0.5 million
In year 2, debt = $1.5 million - $2.0 million = $-0.5 million
$-0.5 million + $-0.5 million = -1.0 million
