The benefit that john gets from eating an additional grape is called the marginal utility of the grape
Marginal utility is the added satisfaction that a consumer gets from having one more unit of a good or service. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase.
The main types of marginal utility include positive marginal utility, zero marginal utility, and negative marginal utility. Consumers often experience higher marginal utility when marginal cost is lower. In this case the extra grape consumed is the added satisfaction that is experienced by john.The positive marginal utility indicates that every unit of goods or services consumed will increase the overall utility level.
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Answer:
Since there is not enough room here, I prepared the financial statement effects template on an excel spreadsheet that I attached.
a)
January 1, unearned revenue
Dr Cash 30,150
Cr Unearned service revenue 30,150
b)
January 31, accrued services
Dr Unearned service revenue 5,025
Cr Service revenue 5,025
c)
January 31, service revenue from hourly custodial work
Dr Accounts receivable 570
Cr Service revenue 570
Answer:
$14,407.72
$10,604.64
$15,979.32
Explanation:
The formula to be used is :
FV = PV x е^r x N
FV = Future value
P = Present value
R = interest rate
N = number of years
$1,900 x e^0.08 x 7 = $14,407.72
$1,900 x e^0.11 x 5 = $10,604.64
$1,900 x e^0.05 x 8 = $15,979.32
