Describe the equal marginal principle. Explain why this principle may not hold if increasing marginal utility is
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
The equal marginal principle states that to obtain maximum satisfaction the ratio of the ma...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Childrens Toys and Gucci Products: In most of our development of consumer theory, we have assumed that tastes are independent of what other people do. This is not true for some goods. For instance,...
-
The profits associated with producing Q for Nash Enterprises are ( = 20Q - Q2, and marginal benefits are MB = 20 - 2Q. Pollution damages (costs) associated with its production are D = 10Q; the...
-
Review the concept of externalities from Chapter 5, page 148. If a market is a monopoly, will a negative externality in production always lead to production beyond the level of economic efficiency?...
-
Which of the following industries would most likely have the highest ratio of sales revenue to property, plant and equipment? Question 9 options: 1) Airline 2) Consumer product manufacturing company...
-
Montel Companys July sales budget calls for sales of $600,000. The store expects to begin July with $50,000 of inventory and to end the month with $40,000 of inventory. Gross margin is typically 40%...
-
Multiple Choice Questions 1. A company would repurchase its own stock for all of the following reasons except: a. It believes the stock is overvalued. b. It wishes to increase the earnings per share....
-
Discuss the various dimensions and measures of value.
-
Duff Company is a subsidiary of Rand Corporation and is located in Madrid, Spain, where the currency is the euro (). Data on Duffs inventory and purchases are as follows: Inventory, January 1,...
-
In Hamdi v. Rumsfeld 542 U.S. 502 (2004), the Supreme Court considered whether or not an American citizen, who was alleged to be an enemy combatant, had the same due process rights as any other...
-
Monterrey Corporation has an existing loan in the amount of $7 million with an annual interest rate of 6.5%. The company provides an internal company-prepared financial statement to the bank under...
-
Explain why an MRS between two goods must equal the ratio of the price of the goods for the consumer to achieve maximum satisfaction.
-
The price of computers has fallen substantially over the past two decades. Use this drop in price to explain why the Consumer Price Index is likely to overstate substantially the cost-of-living index...
-
The Baily Hill Bicycle Shop sells mountain bikes and offers a maintenance program to its customers. The manager has found the average repair bill during the maintenance programs first year to be...
-
What is the purpose of assistive equipment and their associated systems?
-
You can browse your account every few days to see which online payments have cleared and which have not. Most banks post your what in real time, although some still have a one or two day delay?
-
What would be the next step when an engagement team is unable to determine whether a GITC deficiency has been exploited?
-
Read the accounting case study, "Bridging the 'New Gap' in the Upcoming 10-K" Read the case study paying attention to the accounting guidelines, the likely changes the new revenue recognition...
-
Cory owns an apartment building. In addition to providing the utilities for his tenants, he also cleans the halls and utility room and picks up the trash. On what tax form must Cory report the...
-
In Exercises 1924, evaluate S f(x, y, z) dS. f(x, y, z)=x + y + z S: z = x + y, (x - 1) + y 1
-
What are the risks and liability factors in an audit? What are the implications to the auditor? What are the implications to the organization? How can the auditor mitigate these risks and liability...
-
What is the difference between ethics and social responsibility?
-
Which of the following statements are true about the efficient market hypothesis? a. It implies perfect forecasting ability. b. It implies that prices reflect all available information. c. It implies...
-
The Home Improvement Building Supply Company has received the following order for boards in three lengths: Length Order (quantity) 7 feet .........700 boards 9 feet ..........1200 boards 10 feet...
-
Show how binary exponentiation can be used to calculate a 128 efficiently. How many multiplications are required?
-
How can one tell many months the positive skew had in it?
-
Drug 4 mg I every 3 hours prn pain. Supplied as 10mg/10 ml. Calculate mL per dose?
Study smarter with the SolutionInn App