Answer:
In this section, we are going to take a closer look at what is behind the demand curve and the behavior of consumers. How does a consumer decide to spend his/her income on the many different things that he/she wants, i.e., food, clothing, housing, entertainment? We assume that the goal of the consumer is to maximize his/her level of satisfaction or joy, constrained by his/her income.
Economists use the term utility as a measure of satisfaction, joy, or happiness. How much satisfaction does a person gain from eating a pizza or watching a movie? Measuring utility is based solely on the preferences of the individual and has nothing to do with the price of the good. Let’s do an experiment in utility.
Step 01: Get some of your favorite candy, pastries, or cookies.
Step 02: Take a bite and evaluate, on a scale from 0 to 100 (with 100 being the greatest utility), the level of utility from that bite. Record the marginal utility of that bite (i.e., how much you get from that one additional bite).
Step 03: Repeat step 02. It is important to be consistent with each unit consumed, i.e., the same size and no drinking milk or water part way though. When you run out of candy or your marginal utility goes to zero you can stop.
Law of Diminishing Marginal Utility
Classroom instruction to help students learn. Planning, preparing, and delivering lessons, giving feedback, helping students want to learn, and supporting.
Answer:
The correct option is A.
Explanation:
Elasticity of supply: It is the ratio of proportionate change in the quantity supplied to the proportionate change in price.
Elasticity of demand: It is the ratio of proportionate change in the quantity demanded to its price change.
Let as consider Es is the elasticity of supply and Ed is the own price elasticity of demand.
The fraction of the tax passed on to consumers in the form of higher prices is the ratio of elasticity of supply and difference between elasticity of supply and elasticity of demand.
The required fraction is
![\frac{E_s}{E_s-E_d}](https://tex.z-dn.net/?f=%5Cfrac%7BE_s%7D%7BE_s-E_d%7D)
Therefore the correct option is A.
Barry is the producer/manufacture and tom is the wholesaler/middleman
I believe the answer is:
National Security Council,
Office of Policy Development,
Office of Management and Budget,
Council of Economic Advisors
<span>White House Office.
</span>
The executive office do not has the right to create the type of legislation that should be imposed within the government (because the control was given to the legislative office) . But, they have the full right in term of the legislation's implementation process.