For a typical business firm, as production continues to expand marginal cost will increase due to the use of less productive resources.
<h3>What is law of diminishing marginal productivity?</h3>
The law of diminishing marginal productivity states that as the unit of a good produced by using more variable input units alongside a certain amount of fixed inputs increases, the total output may grow at a faster rate initially, then at a steady rate, and then starts decreasing or diminishing as the units of good produced increases.
<h3>What is marginal cost?</h3>
Marginal cost can be defined as the additional amount of money that is paid by a business firm from the production of an additional unit of a good or service.
In conclusion, as production continues to expand for a typical business firm, marginal cost will increase due to the use of less productive resources in accordance with the law of diminishing marginal productivity.
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Answer: Frequency
Explanation: In simple words, frequency refers to the number of times a unit repeat itself in a specified time period or as in the given sample base.
In the given case, the company wants to advertise their product in a limited area as often as possible. Hence they wants their promotional ads to repeat often so that they can reach to wider customer base or maximum people who go through that area witness those ads.
Hence they were concerned about the frequency as they wanted to the add to repeat as much as possible.
Answer:
decrease in the quick ratio
Explanation:
The quick ratio is the (cash + marketable securities + cash equivalents) divided by the current liabilities. In this question current liabilities are increasing and all other things are constant, which means in relation to the quick ratio the denominator which is current liabilities is increasing and the numerator is constant, this means that the quick ratio will decrease.
Lets assume that the cash + marketable securities + cash equivalents was 1,000 and current liabilities was 500. In this cash the quick was 1000/500=2
Now we assume current liabilities increase by 100 and are now 600 where as the numerator is the same.
1000/600=1.66
The new quick ratio is 1.66 which is less than 2.
Answer:
A partnership agreement is binding even if it is not in writing
Explanation:
A partnership is a relationship that exist between two or more people (Usually two to twenty people) to pool their resources and capital together and establish a business enterprise with the aim of making profit.
A partnership agreement can be written on unwritten. Even when unwritten, a partnership agreement is binding and is enforceable in the law court.
A written partnership agreement is called a partnership deed. partners are usually encouraged to have a partnership deed that clarifies the respective positions and duties of each partners.
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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