Kyle would increase his consumption of turkey sandwiches from 7 to 9 per week if their price fell from $6 to $4. This illustrates the idea of<u> the law of diminishing marginal utility.</u>
The introductory economics textbook Principles of Economics was written by N. Gregory Mankiw, a professor of economics at Harvard.
As of 2020, there have been nine editions since its initial release in 1997. Prior to the book's publication, there was debate over the substantial advance author Greg Mankiw received from publisher Harcourt.
More than a million copies have now been sold, bringing in at least $42 million for Mankiw.
Mankiw made the decision to donate the textbook royalties he had been collecting from his students to charity after hearing their concerns about the cost.
Principles of Economics is the required text for introductory courses in American economics departments.
It is the "most commonly used economics textbook," according to its current publisher Cengage.
To learn more about Principles Of Economics here
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Answer:
Option (b) is correct.
Explanation:
(a) If a producer uses the almost same quantities of all the factors of production and if marginal output remains the same then this will lead to no gains.
(b) This is done by purchasing the combination of inputs which are yielding higher marginal outputs.
(c) This would result in a loss because all the resources are not utilized properly or we can say that resources are not used at their potential.
(d) For achieving the level of profits, labor should be devoted to the work for maintaining the higher level of growth in production.
Answer:
5,100 Consumers
Explanation:
The 17% of the total consumer recognize Flatfeet brand which means:
Consumers who recognize Flatfeet = Total Consumers * percentage of people that recognize the brand
Here
Total consumers are 30,000
And
Percentage of people that recognize the brand is 17%
By putting values, we have:
Consumers who recognize Flatfeet Brand = 30,000 * 17%
Consumers who recognize Flatfeet Brand = 5,100 Consumers
Answer:
Explanation:
In the context of Human Resources, turnover refers to the number of workers who leave the organization. A scenario where an increase is what is needed the most would be if the current employees are unable to efficiently and effectively complete their work and are costing the company more money than they are producing in sales. Therefore, if those employees leave the company will save money on them and can hire newer employees that may perform much more efficiently.
Answer: The average mark is n.
Explanation: The average mark is a average of averages. The average mark of class of p student is n, and q student is n, so n+n/2= 2n/2=n.
