1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
shusha [124]
3 years ago
12

You have figured out the marginal cost and marginal benefit of buying an extra smoothie. In two to three sentences, describe how

you would use these measurements to make a decision that leaves you better off.
Social Studies
2 answers:
ludmilkaskok [199]3 years ago
8 0

Marginal beneficit and marginal cost are economic concepts. On the one hand, the marginal beneficit is defined as the added satisfaction a consumer gets from an additional unit of a good or service. On the other hand, the marginal cost is the change in total cost that results from making or producing one additional item.

The consumer could use these measurements to consider whether the cost is higher than the benefit when purchasing an item or getting a new service. Do they really need to buy an extra t-shirt when they already have enough of them? The benefit would be that they would get another t-shirt. In addition, as this is a new piece of clothing, it would probably be more in fashion than the old ones. However, the consumer would have to spend an amount of money that perhaps he had saved for another purpose and consequently would lack money for it. If he decided not to buy the t- shirt, he would have said amount of money to pay for his taxes or services.  The same applies when it comes to the extra smoothie. The amount of money spent on the smoothie could be used to get something else and, by getting an extra one, you would feel fuller and perhaps would not eat a proper meal afterwards. You could also gain weight if the smoothie is not healthy, so in the end the cost is higher than the benefit.

Therefore, you could easily apply economic concepts, such as the ones described, in your everyday life so as to make decisions that leave you better off. By considering the cost associated with an extra purchase, you could start saving up money. Eventually, you could spend your savings to get a greater benefit. For instance, you could go on vacation without spending your salary and still comply with the payment of your taxes and services.

Margarita [4]3 years ago
3 0

Answer:

I would need to know if the marginal cost that this product offers is advantageous for me. For this reason, I would start by evaluating the marginal cost of the product, then calculate and evaluate its marginal benefit, in order to reach a conclusion that tells me whether the marginal cost is less or greater than the benefit. If it is smaller, I will buy the product, if it is larger I will not buy it.

Explanation:

The marginal cost represents a variation of the total cost of the product in relation to how many units of that product were produced. This represents a situation where the product was produced at a cost, but according to the quantity produced, a cost will be added to the total cost, this increase is the marginal cost. When you buy a product, you pay the cost of production + the marginal cost.

The marginal benefit, on the other hand, is the minimum value that a customer believes is fair and is willing to pay for a product.

You might be interested in
Lanie reports to the school psychologist that one student appears to be more disruptive and upset than all of the others. the sc
Solnce55 [7]

In general, there are four widely-acknowledged goals in psychology. They are:<em> to describe, to explain, to predict, and to control</em>.

From all four of these, the one that is most suitable to answer the given question is the fourth goal: to control. The control goal of psychology refers to how <em>psychology should be used to influence and bring changes to people’s behaviors in order to change their lives for the better.</em>

7 0
3 years ago
The _____ approach to psychology views the mind as an active and aware problem-solving system. this view contrasts with the ____
vichka [17]
Cognitive/behavior
I'm in the class

3 0
3 years ago
Read 2 more answers
An independent regulatory agency
Virty [35]
An independent regulatory agency is part of the executive branch. The answer to your question is C. I hope that this is the answer that you were looking for and it has helped you.
6 0
3 years ago
Read 2 more answers
Shonda is a 9-year-old girl who loves to spend time with her family and enjoys helping her grandmother cook. Her grandmother has
salantis [7]

Answer:

They should perform Calcium and weight bearing exercise

Explanation:

Weight-bearing exercise is essential for building and maintaining healthy bones and includes any activity you do that works your muscles and bones against gravity. 3 During weight-bearing exercise, bone adapts to the impact of weight and the pull of muscle by building more bone cells.

8 0
2 years ago
What are the features of African socialism​
BigorU [14]

Answer:

Common principles of various versions of African socialism were: social development guided by a large public sector, incorporating the African identity and what it means to be African, and the avoidance of the development of social classes within society.

Explanation:

3 0
2 years ago
Other questions:
  • A typical village in West Africa consists of _____. A.mostly fishing communities B.large cities with urban workers C.a group of
    13·1 answer
  • How did the cost plus contracts help the united states prepare for war
    7·1 answer
  • Do dual forensic and therapy roles damage children?
    12·1 answer
  • How did the US obtain the Louisiana Territory?
    12·1 answer
  • All of the following protections are provided to research subjects except
    6·1 answer
  • What did Ganeshman Singh<br>mean when he<br>said History cannot be bent'?​
    6·1 answer
  • In paragraph form describe the steps of a preliminary hearing. <br> (write a 1 paragraph at the max)
    13·1 answer
  • What is the relationship between training and profession? ​
    5·2 answers
  • Anthropologists often say that in nonindustrial societies, economic relationships are embedded in social relationships. What doe
    13·1 answer
  • Choose the correct statements describing the experiment shown on the right.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!