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natulia [17]
2 years ago
6

The law of diminishing utility states that added satisfaction declines as a consumer acquires additional units of a given produc

t. True or false?.
Business
1 answer:
rusak2 [61]2 years ago
4 0

The law of marginal utility states that added satisfaction declines as a consumer acquires additional units of a given product. The given statement is false.

<h3>What is marginal utility?</h3>

Marginal utility, in economics, exists as the additional satisfaction or benefit (utility) that a consumer emanates from buying an additional unit of a commodity or service. Utility stands for the satisfaction or benefits emanated by consuming a product. The marginal utility of a good or service represents how much pleasure or satisfaction exists gained or lost by consumers as a consequence of the increase or decrease in consumption by one unit. There are three classifications of marginal utility.

Diminishing marginal utility directs to the phenomenon that each additional unit of gain shows an ever-smaller increase in subjective value. For example, three bites of candy exist better than two bites, but the twentieth bite does not add much to the adventure beyond the nineteenth.

Hence, The given statement is false.

To learn more about marginal utility refer to:

brainly.com/question/15050855

#SPJ4

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Abe owns a dog; the dog's barking annoys Abe's neighbor, Jenny. Suppose that the benefit of owning the dog is worth $200 to Abe
umka2103 [35]

Answer:

Jenny pays Abe $300 to give the dog to his parents who live on an isolated farm

Explanation:

The answer is already stated within the question, but I'll provide  the explanation.

In order to reach a solution, Jenny would have to offer Abe an amount to get rid of the dog that is more than Abe's benefit of owning the dog, which is $200.

On the other hand, since Jenny bears a cost of $400 from the bark, she would only be willing to spend as much as $400 to resolve the situation. Therefore, the acceptable range for the amount of the agreement for both parts is:

$200 < X < $400.

Since $300 is within that range. Jenny paying Abe $300 to give the dog to his parents is a possible solution.

6 0
3 years ago
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Select the instances in which you should include a comma
Shkiper50 [21]

A E F are the answrs i have.

3 0
3 years ago
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You would like to use the fixed-order-interval inventory model to compute the desired order quantity for a company. You know tha
7nadin3 [17]

Answer:

c. 50

Explanation:

Fixed-order-interval inventory model also known as fixed reorder cycle inventory model is used to manage supply of raw material to a business based on demand of the product. Review of inventory is done by inventory analyst at fixed intervals and of inventory level is above a predetermined reorder level, nothing is done.

If however stock is at or below set reorder level raw material is purchased and is based on the formula- Maximum level - Current level.

In the scenario above we use the following formula

Standard deviation of demand over the review and lead-time period(SD)=Square root of { (Lead time+ Number of days between review)* (Standard deviation of daily demand)^2}

SD= √ {(10+15)*(10)^2}

SD= √ (25* 100)

SD= √2,500

SD= 50

8 0
3 years ago
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Each unit requires 0.25 direct labor-hours and direct laborers are paid $14.00 per hour. In addition, the variable manufacturing
pshichka [43]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Each unit requires 0.25 direct labor-hours and direct laborers are paid $14.00 per hour. In addition, the variable manufacturing overhead rate is $1.60 per direct labor-hour. The fixed manufacturing overhead is $95,000 per quarter.

Direct labor per unit= 0.25*14= $3.5

Direct labor equation= 3.5*x

x= units produced

For example:

100 units

Direct labor= 3.5*100= $350

7 0
3 years ago
Suppose demand and supply are given by qxd = 14 - (1/2)px and qxs = (1/4)px - 1 instructions: enter your responses rounded to th
Ivenika [448]

Answer: Equilibrium price is $20 and equilibrium quantity is 4 units.

Explanation: Equilibrium is a situation of rest, a situation where demand for a good is equal to its supply. The price that balance demand and supply is known as the equilibrium price.

Q_{xd} = 14 - \frac{1}{2} P_{x}\\Q_{xs} = \[tex]Q_{xd} = Q_{xs}  14 - \frac{1}{2} P_{x} =   \frac{1}{4} P_{x}  - 1 14 + 1 = \frac{1}{4} P_{x} + \frac{1}{2} P_{x}   15 = \frac{3}{4} P_{x}  20 = P_{x}[/tex] =  Equilibrium price


Equilibrium quantity is given by,

Q_{xd} = 14 - \frac{1}{2} P_{x} = 14 - \frac{1}{2} * 20= 14 - 10= 4



4 0
3 years ago
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