The negative relationship between the quantity of a good, service, or resource and the marginal utility obtained from each additional unit consumed in a given period of time describes diminishing marginal utility.
<h3>What is
diminishing marginal utility?</h3>
Marginal utility is the increase in utility as consumption is increased by one unit.
According to the law of diminishing marginal utility, as more of a product is consumed, utility increases at a diminishing rate. Economic theory suggest that consumption is maximised when marginal utility is equal to marginal revenue.
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<span>Solution:
Total cost of van = market cost of van + 6% sales tax on market cost + document verification fees
6% sales tax on market cost = market cost x 0.06 = 26857 x 0.06 = 1611.42
Total cost of van = 26857 + 1611.42 + 250 = 28,718.42
20% of total cost of van = 5843.684
Remaining amount = Total cost of van - initial financing = 22,974.74 dollars
Hence 22,974.74 dollars is the total amount that Williams family is financing.</span>
Answer:
e. External opportunity
Explanation:
An external opportunity is an extension of the market due to some external development outside the industry. In this case, the cruise industry has benefited in a major way due to external developments.
Answer:
C.) $10,000
Explanation:
Working capital is the net of current asset and current liabilities. it is a financial measure that gives insight into how liquid a company is.
Raw materials also known as Inventory and accounts payable are both current assets and current liabilities respectively hence, Incremental investment in working capital if the project is accepted
= $17,000 - $7,000
= $10,000
Production planning ,production control , quality and cost control and inventory control
