Prepare a discussion post using two creditable resources cited in MLA format

Utility Maximization

One of the main principles behind mainstream, neoclassical economic theory, is that individuals act to maximize their utility. Utility is generally defined as a satisfaction (pleasure) that an individual derives from consuming or using a specific good or service. Total utility indicates the total amount of satisfaction or pleasure an individual derives from consuming some specific quantity of a good or service. Marginal utility refers to the additional satisfaction a consumer gets from an additional unit of a good or service she/he consumes during a given period of time.

The law of diminishing marginal utility states that as an individual consumes more and more units of a specific good or service, the additional utility the consumer derives from the successive units keep on diminishing (declining) over time. Thus diminishing marginal utility explains a lot about consumer behavior in the market economy.

  • Select a specific consumer behavior and construct a “mini case study” that highlights the workings of marginal utility and how it affects the consumption pattern for goods and services.
  • Explain the roles total utility and marginal utility play to understand change in the consumer’s behavior and preferences.
  • Does the law of diminishing marginal utility hold for all goods and services we buy and consume? What are the exceptions?
You can leave a response, or trackback from your own site.

CLICK ORDER NOW TO GET A CUSTOMIZED PAPER ON THIS TOPIC JUST FOR YOU!! 0%PLAGIARISM 100% ORIGINAL PAPER

14 Responses to “Prepare a discussion post using two creditable resources cited in MLA format”

  1. 266065 419388Immigration Lawyers […]the time to read or go to the content or websites we have linked to below the[…] 966958

  2. prediksi hk says:

    203067 87559noutati interesante si utile postate pe blogul dumneavoastra. dar ca si o paranteza , ce parere aveti de inchiriere vile vacanta ?. 847647

  3. wig says:

    617679 377977Properly, that is wonderful, however consider further options weve got here? Could you mind submitting an additional article relating to them also? A lot of thanks! 764578

  4. 106543 489296Good post. I learn something a lot more challenging on different blogs everyday. It will always be stimulating to read content material from other writers and practice a little something from their store. Id prefer to use some with the content material on my blog whether you dont mind. Natually Ill give you a link on your web weblog. Thanks for sharing. 523218

  5. judi online says:

    845131 286156Someone essentially lend a hand to make critically articles Id state. That is the first time I frequented your website page and so far? I amazed with the research you produced to create this actual post extraordinary. Amazing activity! 624204

  6. 379229 9217many thanks for telling!. Truth is typically the very best vindication against slander. by Abraham Lincoln.. 109323

  7. 830169 560439Definitely worth bookmarking for revisiting. I wonder how so much effort you place to create the sort of great informative web site. 954794

  8. He proclaimed the lease of the British family.

  9. positiveHowever, the design information is different.

  10. Day 6 is red speed.

  11. 704063 387916I believe this website has some actually great details for everyone : D. 343726

  12. Bedroom, Lee, Dresden, Dresden.Reading and reading

  13. 289809 967050I recognize there is certainly a terrific deal of spam on this blog. Do you want aid cleansing them up? I may possibly support in between classes! 564550

  14. 126744 819515To your organization online business owner, releasing an important company may be the bread so butter inside of their opportunity, and choosing a great child care company often means the particular between a victorious operation this is. how to start a daycare 333584

Leave a Reply

Powered by WordPress | Designed by: buy backlinks | Thanks to webdesign berlin, House Plans and voucher codes