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2 years ago

In making the best economic choices, consumers compare the benefits of the choice to:.

Business

1 answer:

ikadub [295]2 years ago

5 0

In making the best economic choices, consumers compare the benefits of the choice to the cost of the choice.

<h3>How to make the best economic choices?</h3>

In making the best economic choices, the costs of the choice should be compared with the benefits of the choice. The choice should only be made when the benefits of making the choice exceeds the cost of the choice.

To learn more about costs, please check: brainly.com/question/14915288

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Explain question number 1

inessss [21]

The supply curve is a graph that shows quantity supplied at a given price. Quantity is on the x axis and price is on the y axis.

At $8, Maria is willing to supply 35 hours.

at $10, she will supply 40 hours, and at $12 she will only supply 37 hours.

The drop in hours between $10 and $12 makes sense because at $10 working 40 hours she will make $400 dollar. but at $12 she can make more money working fewer hours, and can use her time for other things.

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3 years ago

Why is it important for natural monopolies to exist? they help the consumer decide among several suppliers for a necessary servi

malfutka [58]

The reason is that they make it more efficient to deliver necessary goods and services to consumers.

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3 years ago

Dennis, age 25, needs lifetime life insurance protection. His agent showed him a chart displaying yearly renewable term premiums

Sveta_85 [38]

Answer:

Dennis, age 25, needs lifetime life insurance protection. His agent showed him a chart displaying yearly renewable term premiums and level-premiums for the next ten years. The level premiums were always higher than the yearly renewable term premiums. Based on this chart, Dennis is convinced he should purchase yearly renewable term insurance. What is Dennis overlooking?

"Age" and "Amount of coverage" is the important factor that is being overlooked.

Explanation:

"Age" and "Amount of coverage" is the important factor that is being overlooked.

In level premium insurance, premium prices remain unchanged throughout the term whereas, in yearly renewable term premiums, premium rates rise as the policies age.

Additionally, in level premium, the amount of coverage offered increases over time at no additional expense.

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3 years ago

If you visited a doctor and the total cost of the visit was $50, but you had a $15

Vinvika [58]

Answer: $15

Explanation:

A copayment or copay simply refers to a fixed amount that is paid by a patient for a covered service, before the patient will receive service. It is an insurance policy which someone who's insured will pay whenever he or she access a medical service.

In this case, since the patient has a copay of $15, then the patient will have to pay $15.

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3 years ago

list 4 stages of development impacting the airline industry and briefly describe how each has impacted the future direction of t

PolarNik [594]

The 4 stages of development that impacted the Airline Industry are:-

1. <u>Regulation</u>: Strict government control of fares, routes, and entry into markets Regulation resulted from tight ownership control of fares, limited competition on chosen routes, a small market served, a low frequency of city connections, high fares, government bailouts for air carriers, and incentives to increase airline profitability

2. <u>Liberalization</u>: reducing governmental control, increasing bilateral agreements, expanding into new markets, diversifying into new goods, and specialising in specialised markets.

3. <u>Deregulation</u> results in less airfare, improved service, and no government regulation of the market.

4. <u>Re-regulation</u>: Prevent predatory pricing by regulating prices; prohibiting strikes under the Railway Labor Act; updating the air traffic control system to reduce delays; and encouraging development, consolidation, and concentration.

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2 years ago