Answer:
When gasoline prices increase, a larger share of households' budgets is likely to be spent on it, which leaves less to spend on other goods and services. The same goes for businesses whose goods must be shipped from place to place or that use fuel as a major input (such as the airline industry).
Explanation:
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Answer:
total estimated cash collections = $300,050
Explanation:
estimated collections during June:
collections of credit sales from May = $257,000 x 65% = $167,050
collections from credit sales before May = $50,000
collections from credit sales during June = $332,000 x 25% = $83,000
total estimated cash collections = $300,050
the write offs and the bad debt provisions are not included in this calculation.
Trading centers in other countries helped the mother country in all of the following ways except for...
Answer: Out of all the options that are shown above the one that is not a way that trading centers helped the mother country is answer choice A) becoming more self-sufficient.
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Answer:
b. the more wealth she has, the less utility she gets from an additional dollar of wealth.
Explanation:
Utility is the satisfaction derived from a good. Total Utility is the total satisfaction from all units of a good. Marginal Utility is the additional satisfaction from an additional unit of a good.
The Law of Diminishing Marginal Utility states that : As consumer gets more & more of a good, the additional utility (satisfaction) from each successive unit keeps on declining. It implies that marginal utility decreases, & total utility increases at a decreasing rate.
Therefore : A person has more marginal utility (additional satisfaction) from an additional dollar, if he has less money (dollars). And, relatively less marginal utility from an additional dollar if he has more money (dollars).
Example : A rich person having millions of dollars would get less marginal utility (additional satisfaction) from gaining a single dollar, than a poor person having few dollars.
