Answer:
Alex may have to lower the price to convince Clara to buy a second slice.
Explanation:
Marginal utility is an economic concept that says that a consumer recieves more marginal utility in the first consumption of a good or services than in the second and the subsequents. In fact with each consumption the marginal utility reduces, this effect is known as diminishing marginal utility.
One of the the methods to reduce the effects of the diminishing marginal utility is to reduces prices. As the utility of a product decreases as its consumption increases, consumers are willing to pay smaller amount of money for more of the product.
Answer:
planned economy
Also known as a planned economy, command economies have as their central tenet that government central planners own or control the means of production within a
Explanation:
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The option that best describes retained earnings is records level of reinvested profits.
<h3>What is retained earnings?</h3>
Retained earnings is the amount of a company's earnings that is not paid out to shareholders as dividends or used to pay debtors. It is the amount of money that can be reinvested into the business.
To learn more about retained earnings, please check: brainly.com/question/14529006
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Service <span> refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.
A service does not have a physical appearance unlike any other type of product. It is created to make it easier for customers to do certain things that offered by the service.</span>
