Total and Marginal Utility

Share this & earn $10
Jason Welker
Published at : 23 Jan 2021
138959 views
1585
40

Utility in Economics is another word for "happiness". Most people would argue that more is always better. This lesson introduces and analyzes the relationship between the level of consumption of a particular good and the consumer's total and marginal utility derived from the good's consumption. We introduce the "law of diminishing marginal utility", which itself helps explain the

Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
TotalMarginalUtility

I WILL RATHER MARRY AN ASHAWO THAN TO MARRY A CHURCH GIRL   EVANG  BRIGHT

I WILL RATHER MARRY AN ASHAWO THAN TO MARRY A CHURCH GIRL EVANG BRIGHT

Natural Event, Manmade Disaster

Natural Event, Manmade Disaster

End Your Lack of Self-Confidence for Good | Women of Impact Q&A

End Your Lack of Self-Confidence for Good | Women of Impact Q&A

An Important Message You Can't Miss

An Important Message You Can't Miss

Paloma Faith - Only Love Can Hurt Like This (Live at The BRIT Awards)

Paloma Faith - Only Love Can Hurt Like This (Live at The BRIT Awards)

How to Find an Affordable Apartment in LA

How to Find an Affordable Apartment in LA

The #1 Tip For Choosing The Right Golf Wedge!

The #1 Tip For Choosing The Right Golf Wedge!

Study with me #2 | Biology notes, chemistry notes and math | studytee

Study with me #2 | Biology notes, chemistry notes and math | studytee

Your spirit is identical to Christ's

Your spirit is identical to Christ's

Days of the Week || With spellings|| Slow Version for Kids to learn Spellings Easily

Days of the Week || With spellings|| Slow Version for Kids to learn Spellings Easily

The Enlightened Self - A Description Of Your Existential Nature

The Enlightened Self - A Description Of Your Existential Nature

How to Practice Persistence | Jack Canfield

How to Practice Persistence | Jack Canfield

11.1 Random and systematic errors (SL)

11.1 Random and systematic errors (SL)

Earn $625 WATCHING YOUTUBE VIDEOS *FREE* (Make Money Online From Home)

Earn $625 WATCHING YOUTUBE VIDEOS *FREE* (Make Money Online From Home)

How to Reach English Advanced Level Through Self-Study? Ask Alisha

How to Reach English Advanced Level Through Self-Study? Ask Alisha

Young and Company- I like What You're Doing To Me

Young and Company- I like What You're Doing To Me

WHINDERSSON NUNES em PROPAROXÍTONA (SHOW COMPLETO)

WHINDERSSON NUNES em PROPAROXÍTONA (SHOW COMPLETO)

prayer for your spouse and kids

prayer for your spouse and kids

African Perspective | Zimbabwe begins process of acquiring COVID-19 vaccines

African Perspective | Zimbabwe begins process of acquiring COVID-19 vaccines

Speaking of the devil... Ang mga Bayags!! | 'Four Sisters and a Wedding'

Speaking of the devil... Ang mga Bayags!! | 'Four Sisters and a Wedding'

How to Prepare for Successful Exhibition & Trade Show

How to Prepare for Successful Exhibition & Trade Show

MC Kresha - Era (Official Video)

MC Kresha - Era (Official Video)

Brighten up our church brighten up. Coptic feast of Nayrouz hymn

Brighten up our church brighten up. Coptic feast of Nayrouz hymn

Top 5 Best Clothes Steamer Review in 2020

Top 5 Best Clothes Steamer Review in 2020

SCORPIO! (Dec 14th /Dec 20th) - " The Unforgettable Person "

SCORPIO! (Dec 14th /Dec 20th) - " The Unforgettable Person "

होश उड़ा देने वाले 10 खतरनाक MACHINES | Top Most Advance Machines Technology Inventions

होश उड़ा देने वाले 10 खतरनाक MACHINES | Top Most Advance Machines Technology Inventions

gleb : zoo x delik - antisocial

gleb : zoo x delik - antisocial

Celtic Frost --  Once They Were Eagles

Celtic Frost -- Once They Were Eagles

A team of workers standard 4 | Easy Explaination

A team of workers standard 4 | Easy Explaination

Unlocked Dual Eternity Legends Evolution & Every Power in Roblox Ninja Legends 2

Unlocked Dual Eternity Legends Evolution & Every Power in Roblox Ninja Legends 2

LIVE Class The Role of the Conscious Mind

LIVE Class The Role of the Conscious Mind

Back to School Types of Students

Back to School Types of Students

Game Theory: Solving the Mystery of Human Flight (Immortals Fenyx Rising)

Game Theory: Solving the Mystery of Human Flight (Immortals Fenyx Rising)

James Smith - Rely On Me (Lyrics)

James Smith - Rely On Me (Lyrics)

Franchising: The advantages and drawbacks

Franchising: The advantages and drawbacks

Dedication feat. Kendrick Lamar - Nipsey Hussle, Victory Lap [Official Audio]

Dedication feat. Kendrick Lamar - Nipsey Hussle, Victory Lap [Official Audio]

Fifth Harmony: X Factor Journey

Fifth Harmony: X Factor Journey

Magkano ba ang powertools ko?

Magkano ba ang powertools ko?

Covering Coronavirus: What Life's Like in a Countrywide Quarantine

Covering Coronavirus: What Life's Like in a Countrywide Quarantine

Carry On Henry

Carry On Henry

Spiritualized - "Ladies and Gentlemen We Are Floating in Space" | NPR MUSIC LIVE

Spiritualized - "Ladies and Gentlemen We Are Floating in Space" | NPR MUSIC LIVE

Karlovy Vary: ROMANTIC GETAWAY 2 HOURS FROM PRAGUE (Honest Guide)

Karlovy Vary: ROMANTIC GETAWAY 2 HOURS FROM PRAGUE (Honest Guide)

الفن فى اخراج الــــج ـــن

الفن فى اخراج الــــج ـــن

Rocket League: Complete Guide To Flicks

Rocket League: Complete Guide To Flicks

TAURUS FEBRUARY 2021 TAROT Cards 💖💖 LOVERS CHOOSE RIGHT!! 💖💖 EXTRAORDINARY NEWS!!

TAURUS FEBRUARY 2021 TAROT Cards 💖💖 LOVERS CHOOSE RIGHT!! 💖💖 EXTRAORDINARY NEWS!!

Koi Varieties List - Type of Koi

Koi Varieties List - Type of Koi

Minecraft Manhunt but if I Die the Hunters LOSE

Minecraft Manhunt but if I Die the Hunters LOSE

lil uzi vert - prices (slowed + reverb)

lil uzi vert - prices (slowed + reverb)

Enzymes' Effect on Activation Energy and Free Energy

Enzymes' Effect on Activation Energy and Free Energy