Consumers always try to equate marginal utility of a good to its price which is a marginal cost of consumption.
<h3>What is marginal utility and why consumers make a choice by looking at both mu and price?</h3>
- So economically a utility is a kind of benefit that a consumer gets by buying a product of choice.
- Now marginal utility is the benefit one gets by buying an additional unit of consumption except the first product bought.
- Here the question is asked about the consumer taking notice of both marginal utility and price while buying goods.
- Hence consumers watch for the marginal utility and price of the good both to equate the marginal utility to its price which is a marginal cost of consumption.
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Marketing training should ideally address your organizational challenges, for example through company-specific projects or the development of your own action plan.
Answer: Marketing Intelligence.
Explanation:
BruceCo action to gather information on coffee from newspapers of various major cities around the world is method by which they increase their market intelligence. Market intelligence is a method business use to increase knowledge about their target market by gathering information on that market.
Answer:
The company must borrow $6200
Explanation:
To calculate the borrowing required, we need to determine the ending cash that will be available at the end of the August.
The ending cash balance will be,
Ending balance = Opening balance + Receipts - Payments/disbursements
Ending balane = 17500 + 121800 - 135500 = $3800
As the company requires to maintain $10000 minimum cash.
The company will need to borrow 10000 - 3800 = $6200
