altruism is a for action in which a person's utility increases simply because someone else's utility . t/f

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30-11-2022
Social Studies

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altruism is a for action in which a person's utility increases simply because someone else's utility . t/f

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arenasaleem890 arenasaleem890 · Answer 1 · 2022-12-03T20:37:28+01:00

Altruism. a behavior that benefits others at the expense of oneself but appears to be motivated by altruism. Altruism, as opposed to selfishness, is the desire to aid or support others without thinking about benefits or reciprocated favors.

Altruism can be exemplified by, among other things, helping someone else without expecting anything in return. avoiding actions that could profit you personally if they will cost others. sacrificing oneself or taking a risk to assist someone. The marginal utility of a good, which decreases with each additional unit of consumption in accordance with the law of declining marginal utility, determines the price a customer is prepared to pay for it. As a result, a regular good's price drops as consumption rises. Due to its potential to influence decisions made at the margin, the marginal utility has an advantage over the total utility. It establishes how much quantity the consumer is willing to give up in exchange for his happiness if prices rise.

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