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GaryK [48]
3 years ago
13

Because successive units of a good produce less and less additional satisfaction, the price must fall to encourage a buyer to pu

rchase more units of the good. This statement is most consistent with which explanation for the law of demand?A) the rationing function of pricesC) the substitution effectB) diminishing marginal utilityD) the income effect
Business
1 answer:
lubasha [3.4K]3 years ago
6 0

Answer:

B) diminishing marginal utility

Explanation:

The law of Diminishing marginal utility states that utility falls as consumption increases.

The law of demand states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

Because of diminishing marginal utility, consumption can be encouraged by reducing price.

As utility falls, consumers would be unwilling to buy more goods at the same price, therefore it would be reasonable to reduce price to encourage consumption.

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Rather than have the top level of management make all the decisions, Jake's company gives all lower-level managers the authority
Natasha_Volkova [10]

Answer:

Decentralised organisation

Explanation:

Decentralised organisation are those in which most of the authority to perform tasks is given to.lower level management or even individual teams.

This results in a system where decisions are made faster.

Also a small amount of control is maintained for major decisions.

In the given instance Jake's company gives all lower-level managers the authority to make decisions for his or her department, this is a decentralised organisational system

6 0
3 years ago
Which of the following characteristics would you expect QRT Software to have? Check all that apply. In this company, decision ma
Rom4ik [11]

QRT Software creates and distributes inventory-control software. The heart of QRT Software is a small group of product managers who work with a number of external companies. One company develops the code, another is responsible for marketing, a third for quality control, and a fourth for distribution.

QRT Software is an example of team organization. As a result of this structure, which of the following are you likely to observe? Check all that apply

Answer:

This structure allows an organization to focus on a core competency.

The company is highly flexible.

This company uses outsourcing extensively to achieve organizational goals.

Explanation:

QRT Software can be seen as a well structured virtual organization; it comprises of various interdependent organizations working together through a small central team, hence, the extensive use of outsourcing to achieve the company's needs and goals.

At the same time, the vitual nature of the firm, made decision making to be spread among the external companies, thereby making the central organization to focus on its core competency. In return, this gives the company a lot of flexibility.

3 0
3 years ago
Sarah purchased 75 sweaters from a wholesaler for $16 each. She wants the markup percentage to be 18 percent. How much will Sara
MakcuM [25]
Dddddddddddddddddddddd
3 0
2 years ago
The standard price and quantity of direct materials are separated because a.GAAP and IFRS reporting requires separation b.standa
geniusboy [140]

Answer:

The correct answer is letter "D": direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department.

Explanation:

Standard price is the estimated price direct materials could have at the moment of ordering a purchase. Standard quantity refers to the forecasted number of units necessary for the production process of the firm. The two of them are separated to allocate each one to the department in charge of their providing accurate measures: <em>standard prices are set by the purchasing department while the standard quantity is estimated by the production department. </em>

The efficiency of standard price and quantity relies on the purchasing and production departments separately.

5 0
3 years ago
Before an interview, you should perform a self-assessment to:
ELEN [110]

Answer: review your strengths, weaknesses, and career goals

6 0
2 years ago
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