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denpristay [2]
3 years ago
8

The opportunity cost of a decision can be examined by using a

Business
1 answer:
melomori [17]3 years ago
8 0

Answer: Production Possibilities Graph.

Explanation: A production possibilities graph is a graph that helps to show the different ways in which economic resources can be used. It can only contain two products or resources in its graph. With  the production possibilities graph, an opportunity cost of a decision can be examined.

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. As you start consuming potato chips, your marginal utility is very high, but it begins to fall slowly until you've eaten 10 ch
scoray [572]

Answer:

The correct answer is 10 chips.

Explanation:

A person is eating chips. Initially, the marginal utility is very high, but after 10 chips it starts declining. It declines till 49 chips and after that it becomes negative.  

We see that the marginal utility derived from the consumption of chips start to decline after consuming 10 chips.

This implies that marginal utility is being maximized at the consumption of 10 chips.  

So the utility-maximizing quantity of chips is 10 chips.

6 0
3 years ago
Which of the items is most likely to be a complement to coffee?
mestny [16]

Answer:

creamer

Explanation:

Complement Goods:

Are goods that do not compite to each other. At the contrary, if a higher quantity is demanded of one good, a higer demand will ocur n the other as well. And if the demand from one of them decrease, the demand of the complement also decrease.

Give n two products X and Y A consumer will be more like to purchase Y as units X are accumulated.

From the list the only good that fits in this definition is the creamer

8 0
3 years ago
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77julia77 [94]

Answer:

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Explanation:

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6 0
3 years ago
Insurance is _____________ when the possible loss is relatively large compared to the amount of the premium.
Andreyy89

Using economic understanding, insurance is "<u>Economically feasible</u>" when the possible loss is relatively large compared to the premium amount.

This is because when an individual insured on a premium account loses huge properties that are considerably large compared to the premium paid, this is economically feasible to such an individual.

For example, if an individual has his vehicle worth $1 million on damaged but has only paid less than $100,000 as insurance fee, such individual would have his car replaced by the insurance firm, despite only paying 10 percent of the car price as insurance fee.

Thus, this situation is considered <u>economically feasible.</u>

Hence, in this case, it is concluded that the correct answer is "<u>Economically feasible."</u>

Learn more here: brainly.com/question/13769098

8 0
3 years ago
Your boss has asked you to implement a non-disruptive and incremental approach to ensure business process excellence. What kind
Vesnalui [34]

Answer:

I would propose a business process improvement (BPI) where management will analyze business procedures and try to determine which ones can be improved and how they should be improved. The advantage of using BPI is that it focuses on organizing work around business processes and not individual tasks which makes it non-disruptive, and it is also incremental in nature.

5 0
3 years ago
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