Answers>Economics>A Level>Article

What is diminishing marginal utility?

Diminishing marginal utility- each additional (marginal) piece of pizza brings less utility than the previous one. Therefore extra utility (marginal utility) brought by each successive slice diminishes as you eat more and more slices.

Answered by Julia R. • Economics tutor

2515 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What is consumer and producer surplus?

Why does the demand curve slope downwards?

A firm's long run total cost curve is given by TC(Q) = 1000Q - 30Q^2 + Q^3. Derive the expression for the long run average cost curve and sketch it. At what quantity is the minimum efficient scale?

What is diminishing marginal utility?

Related Economics A Level answers

What is consumer and producer surplus?

Why does the demand curve slope downwards?

A firm's long run total cost curve is given by TC(Q) = 1000Q - 30Q^2 + Q^3. Derive the expression for the long run average cost curve and sketch it. At what quantity is the minimum efficient scale?

Why is a firm's average revenue equal to their marginal revenue in perfect competition?

We're here to help

Company Information

Popular Requests

© MyTutorWeb Ltd 2013–2025

CLICK CEOP