Do you think consumers still consume a good when it doesn't provide them with utility? Watch this class to find out! In this lesson students will learn how consumers gain utility from consuming goods but as they consume more the utility gain from each extra unit consumed will fall and eventually turn negative. By the end of the lesson students will understand what marginal utility is and how consumers are motivated by utility. This class is great for students in Years 12 and 13 who want an extra push to feel confident on the topic.
Related Classes: AS Economics: The Supply Curve, AS Economics: The Demand Curve, AS Economics: Bringing the Demand and Supply Curve Together, Cost, Revenue and Profit
Safeguarding reminder:The safety of your child is of the utmost importance. All of our classes are pre-recorded to remove any concerns around live participation. For reruns of our past live classes, students' webcams and microphones were disabled and only the chat history, if participation was requested, is visible.
This class is suitable for students in Years 12 and 13.