What you need to know about marginal utility
Students, the term "economics" in the enterprise exam is a troubling element for candidates. Because you need not only to understand the definition of the term, but also to learn to apply it flexibly and to find life cases that correspond to reality in order to better understand its application. So let us come together today to see what we have in the section on marginal utility。
I. Meaning of marginal utility
Let's decipher the term first and see what works. The effect is the degree of satisfaction that the consumer has obtained in consuming a certain quantity of goods or services for a certain period of time. The simplest thing is how happy you can be if you buy a certain amount of goods. That's a good understanding. Let's look at the margins. By definition, the edge is the edge. Here, it is the additional utility of goods or services for consumers. For example, i bought a cell phone that listens to songs, plays games, watches movies, and so on, which is what this phone does to me. But one day i found out that the phone could smash a walnut and not break it. Walnuts are not part of the cell phone set-up function, or are not part of the mandatory function), which is the additional utility the phone brings me。
We link these two words together to see their marginal utility. Marginal utility is the increased degree of additional satisfaction for each additional unit of consumer consumption of an item. Marginality means extra increments. In marginal effects, the self-variant is the consumption of an item, whereas the variable is the degree of satisfaction or utility. Changes in utility caused by additional changes in consumption are marginal effects. As in the case of a cell phone, every time i smash a walnut, this phone gives me extra pleasure。
Ii. Moderates of diminishing marginal utility
There has been a corresponding expansion in the knowledge point of marginal utility, with decreasing patterns of marginal utility. The marginal utility decreasing pattern is a pattern of decreasing utility increments, i. E. Marginal effects, that consumers receive from each consumption unit where the commodity is continuously increasing, as consumer consumption of a particular commodity remains constant for a certain period of time. I'm hungry, for example, and eating my first bag has done me a great deal. Since then, as the number of packages i eat has continued to increase, while the overall utility is increasing, the incremental or marginal utility of each of the packages is diminishing. When i am fully fed, the total utility of the buns is maximum, while the marginal utility is reduced to zero. If i continue to eat the buns, i feel uncomfortable, which means that the marginal utility of the buns is further reduced to negative and the overall utility is beginning to decline。
Presentation of case issues:
[pattern] single
1. When consumers add a unit of consumer goods, the unit effect is gradually diminishing. According to the above definition, the following are marginal effects: ()
A. Hong made $600,000 in the first year, $200,000 in the second year, and damages in the third year
B. C. Was very curious when he first took him to the museum, and he was happy when he went, but when he went to the fifth and sixth, he was a little tired
C. Kwok, a senior philatelic fan, finally gathered the last of his precious stamps the day before yesterday
D. Fan-cai invited his friends for dinner
Answer b。
This is a question of common sense of economics. The marginal utility decreasing pattern is a pattern of decreasing utility increments, i. E. Marginal effects, that consumers receive from each consumption unit where the commodity is continuously increasing, as consumer consumption of a particular commodity remains constant for a certain period of time。
Hong's business under the sea is not compensated for by the marginal effects, which do not fit the meaning of the marginal effects, and a does not. The interest of a child in a museum has been significantly reduced in the course of several visits to the museum, as a unit is less effective and in line with the meaning of marginal effects. B elected. Kwok was happy to have the stamps together, and the unit was not less effective and did not correspond to the meaning of the marginal effect. Van kei invites his friends to dinner, and the more he drinks, the less the unit works, the less the marginal effect。
So choose option b。
Multi-selections
1. The well-known law of marginality in economics explains many of the phenomena in social life which, in your opinion, are consistent with this law ()
A. Seven years of itching in marriage
B. Three new officers
C. Butterfly effects
D. No scenery in familiar places
Abd。
This is a question of common sense of economics. The marginal utility decreasing pattern is a pattern of decreasing utility increments, i. E. Marginal effects, that consumers receive from each consumption unit where the commodity is continuously increasing, as consumer consumption of a particular commodity remains constant for a certain period of time。
Seven years of itching, mostly after marriage, and with the increase in time, the husband and the wife have become more aware and less fresh, which is the diminishing marginal effect of marriage. A elected。
The new officer, who came to power three times, meant that he had done his best when he had taken office, and that he might not be motivated for a long time. This reflects the principle of diminishing marginal effects. B elected。
The butterfly effect, also referred to as the leapfrogging chain reaction, refers to a small change in initial conditions that can drive a large chain reaction over the long term for the system as a whole, unrelated to the erosion of marginal effects. C does not choose。
Therefore, select the abd option。
