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Council for Economic Education
Econ Ed Link: Utility
Can happiness be measured? Students will learn how utility relates to economic decision making and the law of diminishing marginal utility.
Texas Education Agency
Texas Gateway: How Individuals Make Choices Based on Their Budget
By the end of this section, you will be able to calculate and graph budgets constraints, explain opportunity sets and opportunity costs, evaluate the law of diminishing marginal utility, and explain how marginal analysis and utility...
Other
Marginal Value, Marginal Utility, & Consumer Surplus
"Chapter 4: The Consumer: Marginal Value, Marginal Utility, and Consumer Surplus" by David D. Friedman discusses and analyzes the consumer who buys many goods.
Khan Academy
Khan Academy: Utility Maximization
Practice applying the utility maximization rule in this exercise.
Khan Academy
Khan Academy: Cost Benefit Analysis
Practice what you have learned about total utility, marginal utility, total revenue, and costs in this four-question exercise.
Khan Academy
Khan Academy: Decisions Within a Budget Constraint
Another approach to maximizing utility uses indifference curves (sometimes called utility curves) and budget constraints to identify the utility optimizing combination of consumption. Read about this method in this article.
Other
Business Town: Managing a Small Business: Quick Ways to Boost Profits!
This site provides comprehensive information on how to boost your profits and keep them high, by utilizing effective management techniques. Includes video 3 min. 45 sec.
University of Nebraska Omaha
Ec Ed Web: Analyzing the Demand Curve
Lists the determinants of demand for a product and service. The site is useful for students wishing to look further into the causes of demands. Graphs and summaries are included to aid research.
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