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valkas [14]
3 years ago
11

Jenny likes chocolates. One​ day, a friend offers her a chocolate bar and she is extremely happy on receiving it. As the day​ pr

ogresses, many other people also buy her chocolate. As she gets more and more​ chocolates, her excitement on receiving each bar is seen to gradually lessen. Which economic principle is reflected in this​ example?
Business
1 answer:
liq [111]3 years ago
6 0

Answer: Law of diminishing marginal utility

                       

Explanation: In simple words, law of diminishing marginal utility states that  as a consumer consume more of a good or service then the marginal benefit he or she receives from the additional consumption keeps on decreasing.

In the given case, Jenny's excitement keeps on decreasing with every chocolate she receives after a certain point of time.

Hence we can conclude that the given case illustrates law of diminishing marginal utility.

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Consider the relative liquidity of the following assets: Assets
Marrrta [24]

Answer:

4. Your house - MONEY IS THE MOST LIQUID ASSET THAT CAN EXIST

2. The funds in a savings account  - MOST SAVINGS ACCOUNTS ALLOW THEIR CLIENTS A CERTAIN NUMBER OF WITHDRAWALS OR ELECTRONIC TRANSFERS PER MONTH, SO MONEY AT A SAVINGS ACCOUNT IS ALSO VERY LIQUID.

1. A bond issued by a publicly traded company - THE COMPLETE PROCESS OF SELLING A BOND MAY TAKE FROM ONE FULL DAY TO A FEW DAYS, SINCE FIRST YOUR TRADER MUST SELL THE BOND AND THEN THEY MUST TRANSFER THE MONEY TO YOUR ACCOUNT. STILL BONDS ARE LIQUID ASSETS.

4. Your house - SELLING A HOUSE IS A LONG PROCESS THAT CAN TAKE A FEW DAYS (AT BEST) TO SEVERAL MONTHS, SO A HOUSE IS NOT A VERY LIQUID ASSET.  

3 0
4 years ago
Which of the following is not a reason for relief from the substantial understatement​ penalty?A. reasonable cause and a good fa
bekas [8.4K]

Answer:

c- Reliance on a tax return preparer

Explanation

The substantial understatement penalty is a punishment that the IRS applies to taxpayers, it belong to the accuracy-related penalty. The IRS can impose it due to: careless, reckless, or intentional disregard of the rules or regulations.  There are ways for taxpayer to avoid the penalty for taking a position on a return that is contrary to a rule or regulation if the taxpayer properly discloses the position, but reliance on a tax return preparer is not among the options, as it does not by itself constitute reasonable reliance in good faith; also, a taxpayer needs to discuss the issue with the adviser.

8 0
3 years ago
An organizationally-driven reason for outsourcing is that it can improve effectiveness by focusing on what the firm does best.
VARVARA [1.3K]

Answer:

True

Explanation:

Outsourcing is when a company gives some of its internal activities to an external party that takes the responsibility to get things done and one of the reasons for a company to do this is to get rid of activities that have to get done but that are not part of their core operations to be able to concentrate on their main activity and get those things done by experts which can help increase productivity. According to that, the answer is that the statement is true.

6 0
3 years ago
​Vipsana's Gyros House sells gyros. The cost of ingredients​ (pita, meat,​ spices, etc.) to make a gyro is​ $2.00. Vipsana pays
andrezito [222]

Answer:

The average fixed cost is $2.4.

Explanation:

Vipsana's Gyros House sells gyros.

The cost of ingredients​ to make a gyro is​ $2.00.  

Vipsana pays her employees​ $60 per day.  

She also incurs a fixed cost of​ $120 per day.

The cost incurred on ingredients and workers is a variable cost.  

The total fixed is thus $120.  

The average fixed cost for 50 gyros

= \frac{TFC}{Q}

= \frac{120}{50}

= $2.4

5 0
3 years ago
. A manufacturer uses manages its inventory using fixed quantity system and wants to be able to fully supply its customers at le
Vsevolod [243]

Answer:

Lead time needed is approximately 1 day

Explanation:

In this question, we are asked to calculate the maximum number of lead days needed by a manufacturer to give a supplier

We proceed as follows;

They want to be able to fully supply the customer at least 50 out of the 52 weeks.

Mathematically; service probability = 50/52 = 0.96 or 96%

At 96% service level value of Z = 1.75

Standard deviation of daily demand (σd) = 50 units

Safety stock = 100 units

Suppose lead time = L

Safety stock = Z × σ d × √L

100 = 1.75 × 50 × √L

=100 = 87.5 × √L

√L = 100/87.5

√L = 1.142857142

L = 1.142857142^2

L = 1.306122448

6 0
4 years ago
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