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28 Sep 2019
1.Use the concept of marginal utility to explain the following: Newspaper vending machines are designed so that once you have paid for one paper, you could take more than one paper at a time. But soda vending machines, once you have paid for one soda, dispense only one soda at a time.
2.Explain why a rational consumer who had diminishing marginal utility for a good would not consume an additional unit when it generates negative marginal utility, even when that unit is free. Include an example in your explanation.
1.Use the concept of marginal utility to explain the following: Newspaper vending machines are designed so that once you have paid for one paper, you could take more than one paper at a time. But soda vending machines, once you have paid for one soda, dispense only one soda at a time.
2.Explain why a rational consumer who had diminishing marginal utility for a good would not consume an additional unit when it generates negative marginal utility, even when that unit is free. Include an example in your explanation.
Yusra AneesLv10
28 Sep 2019