Diminishing Marginal Utility Exercise

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Question 1

The product I chose to explain the concept of diminishing marginal utility is technology,

particularly my computers.

I have always liked technology a lot, and I have wanted to have a laptop, a desktop, an

Ipad, and a cell phone, however, analyzing this principle, I realize that these goods fit

perfectly into the principle of diminishing marginal utility.

Generally, to carry out all my tasks I use a laptop. The laptop is the tool I use the most

when I have to do some work or research. However, some time ago in my house we bought

a desktop, since I wanted to be able to have a bigger screen, and at the same time I was

going to feel more comfortable to use it in certain tasks. I was also going to be able to use it

for some games.

Analyzing this situation, although I use the desktop, the utility that it generates is much less

than the utility that the laptop generated, when I only had one computer. This is because the

utility that having a laptop or desktop generates, having nothing, is very great, since it

allows me to perform multiple tasks. However, the additional utility that this second

computer generates is much less than the utility that the first computer generated. This

clearly reflects how the marginal utility is decreasing.

Having chosen my computer as an example was not random. There were other examples

that I could have chosen, such as the coffee capsules that are consumed in my house. In this

case, there is a decreasing utility, since the utility they generate as the quantity increases is

much less since the utility of drinking the first coffee is higher than in the successive ones,

and much more than in those capsules that are not even consumed, and their utility is close

to zero. In this case the decreasing utility decreases slowly.

But going back to my computer example, I chose this good as it reflects how marginal

profit quickly decreases. In my case, the utility generated by having my first computer was

very high. On the other hand, the utility generated by my second computer, compared to the

first, is much less. Finally, I do not even think about having a third computer since I would

not use it.

Therefore, in this example we can see how the marginal utility decreases quickly.

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Question 1 The product I chose to explain the concept of diminishing marginal utility is technology, particularly my computers. I have always liked technology a lot, and I have wanted to have a laptop, a desktop, an Ipad, and a cell phone, however, analyzing this principle, I realize that these goo ...
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