Answer: C beyond a certain point, total utility decreases as income rises
- Diminishing marginal utility means that beyond certain point, the total utility from consuming a good decreases, and increasing its consumption monotonically, makes that every additional unit of consumption delivers less utility each time.
- This is because most behavioral consumers models try to emulate the principle of scarcity: the less available units of a good, the more it values.
- Then, an increasing income would allow us to buy more and more goods, and because of the existance of diminishing marginal utility, we would get less utility from consuming additional units of every goods each time.
- As an <u>example</u>,one could think about eating chocolate. The first bar would give us much happiness (utility), but increasing the number of bars consumed would eventually vanish this "happiness".
Answer:
The correct answer is letter "C": when the marginal magnitude is below the average magnitude, the average magnitude falls.
Explanation:
The average-marginal value is an Arithmetic rule implemented in Economics that states that when the marginal value is above the average value, the average value tends to rise, In case the marginal value is below the average value, the average value tends to fall. The average value remains the same when it is equal to the marginal value.
The answer is $12,360.22(rounded)
16,995-5,500= 11,495
11,495+7%= 12,360.2151
Hope this helps!! :)
Answer:
D. the routine service.
Explanation:
Single cost driver rate: It is a cost assigned to each unit of cost driver activity directly. Cost driver also influence other business activity and effect the total cost incurred.
In the given case, Business offer both routine and specialized service, as we know single cost driver influence driver directly, therefore, cost driver of specialized service will overprice the routine service.
An example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.
<h3>What is a
liquidated damages?</h3>
A liquidated damages refers to a pre-estimated probable loss that would be suffered from the late completion of a contract.
In conclusion, the example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.
Read more about liquidated damages
<em>brainly.com/question/25697446</em>
