Answer:
The correct answer is letter "B": satisfaction that results from the consumption of a good.
Explanation:
Utility is referred to as the satisfaction or joy an individual perceives by consuming a good or service. The more the individual consumes that good the higher the satisfaction until a point where the joy starts to diminish and is eventually null. The concept of utility assumes individuals make rational decisions to maximize their benefits.
Answer:
the opportunity cost per unit is $19
Explanation:
The computation of the opportunity cost per unit is shown below:
The opportunity cost per unit is
= Selling price per unit - variable cost per unit
= $34 - $15
= $19
Hence, the opportunity cost per unit is $19
The same should be considered and relevant
We simply deduct the variable cost per unit from the selling price per unit so that the opportunity cost could come
The answer to this point is 950 per month for each house
Answer:
Option B
Explanation:
In simple words, The given case is related to the conclusion made by the court in the famous case of Vokes versus Arthur MurrayLinks, in which the jury in the court rules that, a determination of a party carrying better information about a subject matter may be treated as a matter of fact even though it would be treated as an opinion if the parties were speaking for deal on equal conditions.
