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Leviafan [203]
3 years ago
11

Recall the text’s definition of diminishing marginal utility: "the common pattern that each marginal unit of a good consumed pro

vides less of an addition to utility than the previous unit." The reason for this behavior is because of biology. Our body sends our brains a signal once too much of a good or service has been consumed. This prevents a person from literally eating until they explode. In your own experience, share two times instances where the law of diminishing marginal utility applied to you. Can you think of any time when the law of diminishing marginal utility failed for someone? Please answer in 150 words or more. Use your own words - please do not copy and paste from a web site. Be sure to reference your sources.
Business
1 answer:
son4ous [18]3 years ago
6 0

<u>Explanation:</u>

Note, the term diminishing marginal utility refers to an economic principle that states that the more unit of a particular commodity or service we consume, the more the satisfaction (utility) derived out of the consumption reduces or diminishes.

For instance, if I watched movies produced by a particular entertainment company for several days (eg Disney Studios), I may become dissatisfied using this particular entertainment provider and may decide to try another service (Netflix).

Another instance could occur after exercising, I'm given 3 bottles of coke, after taking my first bottle, the amount of utility I derive would reduce until I get to the third bottle, at this point I've reached my peak.

The law of diminishing marginal utility failed for someone I know who had used the same type of toothpaste and brushed her teeth at least once a day for a period of over 10 years.

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6 0
3 years ago
Beginning Inventory Ending Inventory Finished goods (units) 24,000 34,000 Raw material (grams) 54,000 44,000 Each unit of finish
Ghella [55]

Answer:

Production= 200,000

Explanation:

Giving the following information:

Beginning Inventory Ending Inventory

Finished goods (units) 24,000 34,000

The company plans to sell 190,000 units during the year.

<u>To calculate the production required, we need to use the following formula:</u>

Production= sales + desired ending inventory - beginning inventory

Production= 190,000 + 34,000 - 24,000

Production= 200,000

4 0
2 years ago
Roberta santos, age 41, is single and lives at 120 sanborne avenue, springfield, il 60781. Her social security number is 123-45-
viktelen [127]

The divorce decree provides that roberta is to pay state income tax.

<h3>What is state income tax?</h3>

In addition to the federal income tax collected by the United States, the majority of individual states in the United States collect a state income tax. Some municipal governments also levy an income tax, which is frequently based on state income tax calculations. Individual income taxes are levied in 42 states and many localities around the United States.

The federal government collects federal income taxes, whereas individual states collect state income taxes where a taxpayer lives and generates income.

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5 0
1 year ago
​Jane and Smith are considering the purchase of a home in downtown Minneapolis. They approached Larson's Mortgagers Inc. to arra
dmitriy555 [2]

Answer:

prequalification

Explanation:

<em>Prequalification</em> is used as an initial assessment of the applicant's ability to access a loan. Prequalification is used in a mortgage process, to give people who run the loan a general idea of ​​how much a person can borrow and for what type of loan terms they could qualify.

5 0
3 years ago
You put $100 in the bank now, $200 in the bank a year from now, and $300 in the bank in two years. How much money will you have
Paul [167]

Answer:

End of year 3: $677.85

Explanation:

If the interest rate is annual effective:

Year 0 (now): $100

In a year from now I will have:

End of Year 1: $100*1,075= 107.5

Then I put $200 more, i will have $307.5

Begging of year 2: $307.5

In two years from now I will have:

End of year 2: $307.5*1.075= $330.56

Then I put $300 more, i will have $660.56

Begging of year 3: $660.56

In three years from now i will have:

$660.56*1,075= $677.85

End of year 3: $677.85

4 0
3 years ago
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