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The Law of Diminishing Marginal Utility

[WLO: 3] [CLOs: 1, 2, 3]

Prior to beginning work on this discussion, read Farah Mohammed’s article, Why Are Diamonds More Expensive Than Water? https://daily.jstor.org/diamonds-expensive-water/, as well as Chapter 5 in your textbook, especially Sections 5.1 and 5.3, and respond to the following:

• Describe the relationship between total utility and marginal utility.
• Explain if marginal utility can be negative.
• Examine the diamond-water paradox. Why are diamonds more expensive than water?
• Evaluate the law of diminishing marginal utility.
• Identify some items, explaining your reasoning, that do not follow the law of diminishing marginal utility.
• Evaluate how the law of diminishing marginal utility can explain the diamond-water paradox.

The Law of Diminishing Marginal Utility paper

• Must be three double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center’s APA Style resource 
• Must include a separate title page with the following: 
  • Title of paper
  • Student’s name
  • Course name and number
  • Instructor’s name
  • Date submitted
• For further assistance with the formatting and the title page, refer to APA Formatting for Word 2013 (Links to an external site.).
• Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.
• Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper. 
  • For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Ashford Writing Center resources.
• Must use at least three scholarly, peer-reviewed, and/or other credible sources in addition to the course text. 
  • The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
• Must document any information used from sources in APA style as outlined in the Ashford Writing Center’s Citing Within Your Paper guide (Links to an external site.).
• Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center. See the Formatting Your References List (Links to an external site.) resource in the Ashford Writing Center for specifications. 

 

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If you have a painting business that sells different types of paints with various painting services and the paints you use for your painting services comes from a company that doesn’t contain volatile organic compounds, what example could be used to demonstrate a project that doesn’t fall into a one year contractual agreement? Where the Statue of Fraud would have to be applied for a service or contract with a client?

 

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If you have not already done so, complete the activity, Research Professional Counseling Organizations and Competencies, in this unit’s studies. Then, in your post, address the following:

• Describe one division of the ACA that interests you. Include the cost of joining, membership benefits, activities, services to members, and current issues.
• Post your ACA region and the link for your state counseling association. What is the cost for you to join and be a member of these associations?
• Provide the necessary requirements for your entrance into the Chi Sigma Iota honor society. After reviewing Capella’s Chi Sigma Iota Chapter Web site, what benefits do you see? Are you interested in joining when you are eligible?
• What benefits do you see in belonging to one or more of the counseling profession’s associations for your future practice?

 

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If you have these 2 constraints:

0.6R+4D £ 180,000 Machine Hour constraint

3R+5D £ 150,000 Direct Labor Hour constraint

Required:

a Draw a graph showing the possible production plans for this company.

b- From your opinion where is the feasible area of the production plan. Explain your answer.

Answer:

 

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