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Elenna [48]
3 years ago
12

What is the difference between total utility and marginal​ utility? A. Marginal utility represents the consumer optimum while to

tal utility gives the total utility per dollar spent on the last unit. B. Total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. C. Total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. D. Marginal utility is subject to the law of diminishing marginal utility while total utility is not.
Business
2 answers:
Ierofanga [76]3 years ago
4 0

Answer:

Total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good.

Explanation:

As consumption increases, total utility increases but marginal utility would begin to diminish after a certain point is reached as a result of diminishing marginal utility.

The Law Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal utility derived from each additional unit falls.

I hope my answer helps you

seraphim [82]3 years ago
4 0

Answer:

C) Total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good.

Explanation:

Total utility is the overall satisfaction a consumer derives from consuming a particular good or service. Each unit of good or service contains its own marginal utility. Total utility sums up the marginal utilities of such items. The elementary purpose of a consumer, is to derive the largest amount of utility with least expenses.

  In the law of diminishing marginal utility, it states that as more units of a single good or service are consumed, additional satisfaction known as marginal utility drops. The first good or service consumed has the highest marginal utility while the ones that follow it reduces rapidly.

  Marginal utility is the amount of satisfaction derived from consumption of additional units of a good or service. This is used to determine how much a consumer is willing to purchase. Satisfaction levels of a consumer are easily identified through marginal utility in order to influence the consumer's purchase decision. There are two cases involving marginal utility:- Positive marginal utility and Negative marginal utility. The positive marginal utility is said to happen when there is an increase I'm total utility through the consumption of an additional item while Negative marginal utility happens when total utility is decreased through the consumption of an additional item.

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Homeyer Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 71 Manu
Alex

Answer:

Net operating profit= 102,000

Explanation:

Giving the following information:

Selling price per unit $ 71

Manufacturing costs:

Direct materials $ 12

Direct labor $ 6

Variable manufacturing overhead $ 3

Fixed manufacturing overhead per year $ 264,000

Selling and administrative expenses:

Variable selling and administrative expense per unit sold $ 4

Fixed selling and administrative expense per year $ 74,000

Year 1

Units in beginning inventory 0

Units produced during the year 11,000

Units sold during the year 8,000

Units in ending inventory 3,000

Year 2

Units in beginning inventory 3,000

Units produced during the year 12,000

Units sold during the year 14,000

Units in ending inventory 1,000

Unitary cost= (12 + 6 + 3) + (264,000/11,000)= $45

Income statement:

Sales= (8,000*$71)= 568,000

COGS= (8,000*45)= 360,000 (-)

Gross profit= 208,000

Variable selling and administrative= (4*8000)= 32,000 (-)

Fixed selling and administrative expense= 74,000 (-)

Net operating profit= 102,000

4 0
3 years ago
An effective price ceiling is best defined as a price:
Anarel [89]
Imposed by goveement below equilibrium price
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3 years ago
During the year, Kim sold the following assets: business auto for a $1,000 loss, stock investment for a $1,000 loss, and pleasur
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Answer:

c. $2,000

Explanation:

total loss claim = business auto loss + stock investment loss

                         = $1,000 + $1,000

                         = $2,000

Therefore, The Kim may claim $2,000 of these losses.

3 0
3 years ago
You recently bought a used car and it breaks down. You take it to the repair shop, which will charge $400. You don’t have that m
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Answer:

My Guest is P2P or Debit Card

Explanation:

3 0
2 years ago
A business letter is not written:
GalinKa [24]

Answer:

OC. between two private individuals.

Explanation:

A business letter is a formal document written to convey an official or commercial message. It is written in a standard format. A Business letter is usually short, clear, and concise.

Two private individuals will probably communicate using personal letters.  Unlike a business letter, a personal letter uses a friendly and relaxed tone. They are no laid down formats to consider.  Personal letters may convey messages concerning the writer or recipient's social, religious, or economic matters.

8 0
3 years ago
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