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liberstina [14]
4 years ago
12

One major assumption of economics is that people

Business
1 answer:
storchak [24]4 years ago
4 0
In any field of study, people always start with the ideal scenario in order to eliminate external factors that could only add complexities. Then, when we fully understand the concepts, the calculations gradually evolve to more complex ones to cater to realistic problems.

The basic assumptions that economists do are the following
1. People always have preferences on a set of outcomes and this can be determined through the quantity and quality of their value
2. People always maximize utility or the satisfaction you get out of buying and using the product.
3. Businesses always maximize profit.
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What are chemical contaminants
vaieri [72.5K]

Answer:

Chemical contaminants are chemicals toxic to plants and animals in waterways. The phrase 'chemical contamination' is used to indicate situations where chemicals are either present where they shouldn't be, or are at higher concentrations than they would naturally have occurred.

Explanation:

8 0
3 years ago
Senator Smith argues that the U.S. should spend another $100 million on healthcare this year in addition to the $800 million tha
Soloha48 [4]

Answer:

A) The extra $100 million spent on health care will not provide as much benefit as the previous $100 million due to diminishing marginal benefit.

Explanation:

The understanding of this question is based on the explanation of Diminishing Marginal Benefit

Diminishing Marginal Benefit is a law that states the an increase in the consumption of a thing while all other factor remain constant will reduce the marginal benefit or utility derived from the increased or additional unit.

Utility represents the benefit or satisfaction derived from consumption.

Based on this law, since $800 million has been spent on healthcare, every additional amount spent will bring in some benefit but will be at a diminishing rate. This means it will not provide as much benefit as the previous $100 million.

5 0
3 years ago
What is horizontal segmentation?
Gekata [30.6K]

Answer: Horizontal segmentation try's to understand what customers want and then to deliver it.

8 0
3 years ago
Miller Co. classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are ex
Kobotan [32]

Answer:

Budgeted selling and administrative expense= $38,600

Explanation:

Giving the following information:

Variable expenses are expected to be $13,400 in the first quarter, and $3,900 increments are expected in the remaining quarters of 2017. Fixed expenses are expected to be $21,300 in each quarter.

We need to determine the budgeted selling and administrative expense for the second quarter:

Budgeted selling and administrative expense= (13,400 + 3,900) + 21,300

Budgeted selling and administrative expense= $38,600

3 0
3 years ago
If you spend $250,000 on a new car and it
Rasek [7]
It will be worth $105468.75.

If it depreciates 25% each year, that means 75% of the value remains.

The value of the third year is $140,625.

$140,625(.75) = $105,468.75.


You could also find 25% of $140,625 and subtract it.

$140,624(.25) = $35,156.25
$140625 - $35,156.25 = $105,468.75.

Either way the car would be worth $105,468.75 in year four!
3 0
3 years ago
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