Be approached
Hi
What does be approached mean in
As the supply of a given commodity is increased, its utility starts to decrease until “satisfaction or satiety” is approached
?Thanks in advance
Top answer
It means that the utility curve gets close to (approached) a level (satiation) on the supply-utility graph. Plot of utility versus supply based on the number of apples eaten (supply) in per day. When a person consumes no apples, he gets no satisfaction.
- It means that the utility curve gets close to (approached) a level (satiation) on the supply-utility graph.
- Plot of utility versus supply based on the number of apples eaten (supply) in per day.
- When a person consumes no apples, he gets no satisfaction.
- His total utility is zero.
- In case he consumes one apple a day, he gains seven units of satisfaction.
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It means that the utility curve gets close to (approached) a level (satiation) on the supply-utility graph.
Plot of utility versus supply based on the number of apples eaten (supply) in per day.
When a person consumes no apples, he gets no satisfaction. His total utility is zero. In case he consumes one apple a day, he gains seven units of satisfaction. His total utility is 7
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