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You are given the following information regarding an open economy (Rs. Million). Consumption Function: C = 100+ 0.6 Yd Yd = Y – T Private Investment: I = 100 Government Expenditure G = 300 Direct Tax Function: T = 0.25Y Exports X = 80 Imports M = 25.       

a) Determine the equilibrium level of national income (Y) of the economy.   

Come up with an example of diminishing marginal utility you've encountered recently. Pls explain

Provide an example of diminishing marginal utility. In this case, does marginal utility begin to diminish immedately or after several units?

An important law in economics is the “Law of Diminishing Marginal Utility”.  Discuss what this law is and provide  an example of diminishing marginal utility you’ve encountered recently.