Tag Archives: Economics
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Opportunity cost can never be 0
Opportunity cost can never be 0 as the second principle of Mankiw’s economics says that the cost of anything is what you give up for it. Even if it’s money, time or another activity, there is always something that can replace the good you chose, even if it is the best one there is. AsContinue reading “Opportunity cost can never be 0”
Why marginal utility can never be negative?
Marginal utility is the satisfaction one hopes to get when consuming an unit of a good. As total utility reaches its maximum(total fulfillment of the need that the good hopes to satisfy(, marginal utility will go to 0)the last unit of the good satisfied the need completely(. We can say that total utility and marginalContinue reading “Why marginal utility can never be negative?”
Ilie Ioana Antonia 