Improve Your Grades with the Equal Marginal Principle Homework Help
It is obvious that if you get a key to the complex questions being given in your homework, you will be able to perform them easily in your examination and hence you can better your grades. But before that let us familiarize ourselves with the definition of Equal Marginal Principle.
What is Equal Marginal Principle?
The experts of the equal marginal principle homework help will teach you to use the concept of marginalization while teaching you the equal marginal principle. Marginalization is the condition of deriving maximum utility or satisfaction from the product. If a consumer has a fixed income, and the market prices of the goods are same -then the last dollar’s marginal utility spent on each good is the same as that of marginal utility of the dollar spent on other goods, then maximum satisfaction is achieved.
This condition must hold because if someone has given more marginal utility of one dollar in a good, then the amount spent on that particular good would increase. Similarly, if someone has given less marginal utility of one dollar in a good, then the amount spent on that particular good would decrease.
Why does the slope of demand curve go downwards?
Let us understand from the experts of the equal marginal principle homework help about the slope of the demand curve. According to customer behavior rule, the demand slope always needs to go down.
Keeping inconstant constant, let us suppose that the common marginal utility is one dollar, and the price is increased. Therefore, the customer needs to readjust the consumption of the goods.
This can be done by lowering the consumption of the goods or by waiting for a situation when the new marginal utility will become equal to the value of the old one. As the consumer’s desire to purchase a good goes down when the prices increase, therefore the demand curve goes downwards.
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