Giving the disadvantages of bad currency, Groepe said, The quality of banknotes in circulation also poses a reputational risk for the central bank and in fact for the country. Central Banks meet in SA to improve currency security and cash management
When the marginal utility comes to zero or we say the point of satiety is reached, the total utility is the maximum. If consumption is increased further from this point of satiety, the marginal utility becomes negative and total utility begins to diminish. The relationship between total utility and marginal utility is now explained with the help of following schedule and a graph.
The concept that marginal utilities diminish across the ranges relevant to decision-making is called the law of diminishing marginal utility (and is also known as Gossen 's First Law). This refers to the increase in utility an individual gains from increase in the consumption of a particular good. The law of diminishing marginal utility is at the heart of the explanation of numerous economic phenomena, including time preference and the value of goods ...