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Economics

1. What is law of diminishing marginal utility?

2. Find out the marginal utility for the following schedule of consuming pizza

Pizza consumed	0	1	2	3	4	5	6	7
Total Utility	0	20	28	34	38	40	40	38

3. Explain briefly the Utility maximizing Rule.

4. How the demand curve can be derived from the utility Maximizing Rule?

5. What is income and substitution effect?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9530365

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