Joe should decrease his consumption of crackers and his marginal utility from crackers will increase and also increase his consumption of cheese and his marginal utility from cheese will decrease .
<h3>What happens to marginal utility when consumption decreases?</h3>
According to the Law of Diminishing Marginal Utility, the additional utility derived from increasing consumption declines with each additional increase in consumption level.
What happens to marginal utility when consumption increases?
According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.
Why does marginal utility decrease as more is consumed?
- Consumers will only purchase more of a specific good if the price drops since they get less satisfaction from consuming more units of that good.
- Thus, the law of diminishing marginal value contributes to the understanding of the law of demand.
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Answer:
See as below
Explanation:
1. A graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices.
Supply curve: <em>The supply curve is upward sloping. It originates from the bottom left corners and rises as prices increase.</em>
<em> </em>
2. The claim that other things being equal, the quantity supplied of good increases when the price of that good rises.
Law of supply:<em> The law of supply asserts that there is a positive or direct relationship between price and quantity supplied. Firms are willing to supply more at higher prices to make more profits.</em>
3. The amount of a good that sellers are willing and able to supply at a given price.
Quantity supplied:<em> </em><em>Quantity supplied denotes a numerical value that firms are willing to sell at the given price. A high selling is a motivation for producers to supply more. </em>
4. A table showing the relationship between the price of a good and the amount of it that sellers are willing and able to supply at various prices. supply schedule
Supply schedule: <em>A supply schedule shows the quantities that producers are willing to sell at different prices in a period. It illustrates how the price affects the quantities supplies are willing to sell.</em>
Question: What is the purpose of the federal reserve's federal open market committee and its activities?
Federal Open Market Committee. The Federal Open Market Committee, or FOMC, is the Fed's monetary policymaking body. It is responsible for formulation of a policy designed to promote stable prices and economic growth. Simply put, the FOMC manages the nation's money supply.
Hope this helps, have a good day. c;
We need a percentage of
80 % water
So alcohol in mixture is:
20/100
And water is:
80/100
20% (Alcohol) = 4 Gallons
So 80% (Water) = 4x4 = 16 Gallons WATER
Answer: Cash for $180
Explanation:
The Petty Cash balance should be at a certain level necessary to cover petty cash expenses of the company. In this case that amount is $200. $20 is already in cash in the account and so will need to be topped up to get to $200.
= 200 - 20
= $180
$180 will take the balance back to $200. The Cash account would be credited of this $200 and the Petty Cash would be debited.
