Student Solution

-->

"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

1 University

1 Course

1 Subject

Download Solution

Related Solution

Module 13 Assignment...
I chose Dance This 2011 “Polka” by Mark Morris. This dance was performed by women. They were about fourteen in the group. They danced in a group so it is a group dance. This dance involves bending, sh...

Module 13 Assignment
Module 13 Assignment

I chose Dance This 2011 “Polka” by Mark Morris

Week 6 Discussion 1_...
1.)I think if those posts made Serena happy and got her message across them good on her. She also did her part into bringing attention and explanation to the subject. Plus I think it is good SHE did i...

Week 6 Discussion 1
Week 6 Discussion 1

1.)I think if those posts made Serena happy and go

M9. Assignment CPI V...
Hello everyone! My name is ******and I am representing the Committee on Public Information to provide useful insights about post-world-war initiatives of America. The League of Nations will have to be...

Module 9. Assignment CPI Volunteers
Module 9. Assignment CPI Volunteers

Hello everyone! My name is ******and I am represen

Photo Essay 2

Photo Essay 2

Q ECO 2023 Instructor: Photo Essay 2 Due Date: We talked about The Law of Diminishing Marginal Utility, which can explain a number of interesting real-world situations. Please pick one example from your daily life and explain it briefly. Please do not use the examples in the lecture notes! You can take photos by yourself or use pictures from the internet. If you use someone else’s pictures, please include the link. Under each photo, please explain in two to four sentences why you picked this photo. Photo Essay 2 is worth 5 points. No late submission will be accepted without a documented excuse. You must combine everything into one file (Word, PDF, or Excel). You cannot upload photos directly to Canvas. Thank you! Example: Unlimited minutes on cell phone plans Source: http://images.macworld.com/images/article/2011/10/familyvoiceplans-256916.png Explanation: Cell phone companies rely on the diminishing marginal utility of conversation. They offer “unlimited” plans because they know that consumers will not stay on their phones indefinitely.

View Related Questions

Solution Preview

View Complete Solution
Law of diminishing marginal utility presented by Alfred Marshall. According to this law, the consumer satisfaction level declines after consuming the same commodity simultaneously. Link: https://www.marketing91.com/diminishing-marginal-utility/ I take the example of pizza because I am a pizza lover. But I can only eat a maximum of 3 slices of pizza at a time despite having a great love and hunger. The first piece gives me immense satisfaction. The 2nd provides reduction, and I feel there is some issue in the taste, and it is not like the previous time I eat. While taking third, I thought that pizza has no salt or less salt and has no cheese. Actually, my tummy is full, and I can’t eat more, so I feel it is less tasty.