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iragen [17]
3 years ago
8

You go to an all-you-can-eat buffet. if you maximize utility, the marginal utility of the last bite that you eat will be:

Business
1 answer:
DENIUS [597]3 years ago
4 0
In economics, there is what we call "Law of Diminishing Marginal Utility". This law can be applied when you maximize the satisfaction with every product you buy. In this case, with every bite you get you get the most of it. As a result, your appetite gets less and less with every more bite that you take. Therefore, the last bite would have the least value of marginal utility.
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