Discuss the Impacts of Marginal Utility

Discussions
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Discussion 9:
The concept of the tragedy of the commons refers to a theory that is used in economics to refer to a situation where individuals tend to act rationally and independently according to one’s self-interest. It is usually contrary to the group’s long-term interests thus depleting some common resource. It is a situation where individuals tend to pursue their interests instead of the entire society. A free-market economy cannot avoid the tragedy of commons since people who have high ability to access the resource in question shall still benefit at the expense of their powerless colleagues. Those who will have increased ability of accessing that resource will disadvantage the entire society in the long-run. The government can address negative externality via introduction of quota systems where manufacturers and individuals are allowed to pollute the environment to a given level beyond which they have to pay. The government can use a market-based approach that has two alternatives including subsidies and taxes. Taxes are imposed on those who pollute the environment. Those that do not are entitled to subsidies to encourage them to keep the pollution levels below the minimum. Government intervention is necessary since it prevents individuals from overusing the resources to preserve them for future generations. The other methods are public education regarding the use of resources responsibly and enacting of laws to punish those who go to the extreme of overusing resources.
Discussion 10
Marginal utility enables consumers to determine the need to buy additional units of a product being offered at the market. They are interested in determining the utility that shall be derived from an extra unit of a product before making a decision regarding their consumption.
It can be achieved by increasing the quality of the product in question where the consumers shall be convinced that consuming more units will help to address their utility concerns. They will be determined to consume additional units thus helping to increase the demand curve of the product.
Discussion 11:
Increasing the output in the short run entails alternating the input mix since the current assets can be provided in the suitable quantities to facilitate production that results into increased output. A variable factor can be the raw materials used for producing ice and or the amount of labor used in the production. The manufacturer can increase the amount of raw materials to increase production or increase the supply of labor to work on the available resources to increase production. The aspects that cannot change entails the buildings and machinery since the short run does not allow for the changes in the fixed assets. The production plant cannot be expanded in such a time. It will require much time to adjust the plant size, get large buildings, and install additional machines.
Discussion12:
There are numerous profit maximizing strategies like reducing the cost of production via research and development, innovations of new production techniques, and using a manageable number of labor. Increasing prices of the products also lead to large profit margins. Under perfectly competitive market, suppliers cannot get maximum profits since the prices they charge are determined by the market itself through an automatic mechanism. The decisions that can be made to facilitate profit maximization is identifying mechanisms of reducing the costs of production and selling thus leading to increased profit margins. Producing more output than other businesses does not guarantee greater economic profits since demand has to be availed to facilitate it. The consumers' preference has to come into play to guarantee additional sales volumes.
Discussion 13:
There are numerous methods that have been suggested and administered to curb monopoly in various ...