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zlopas [31]
3 years ago
6

In economics, what is meant by "optimal decisions are made at the margin?" The concept of the margin was initially developed in

2012 by Professor Marginus; research is still being done on how it can be used for decision-making. The idea of the margin does not help compare trade-offs and is not relevant to decision-making. The idea of the margin is related to making decisions while thinking about the benefits and costs of small changes in behavior. The idea of the margin is that all economic decisions are made at the very fringes of society.
Business
1 answer:
Ivahew [28]3 years ago
7 0

Answer:

The idea of the margin is related to making decisions while thinking about the benefits and costs of small changes in behavior.

Explanation:

Economic theory suggests that economic agents (firms, consumers and government) think on the sidelines. This means that decisions are made taking into consideration the benefits and costs of each choice. For example, for a firm to increase a unit of production (marginal unit) it will calculate the cost of production of that unit (marginal cost) and the profit that additional unit will generate (marginal benefit).

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Leo, a resident of Missouri, owns a warehouse in Nebraska. A dispute arises over the ownership of the warehouse with Opal, a res
Alexandra [31]

Regarding this suit, Nebraska has in rem jurisdiction.

Explanation:

It  is the legal term which defines the power over real or private property or the rights of an individual about whom the judge has no jurisdiction in personal.

For example, if a divorce couple wants a court to control its family home transactions, the court has access to the property.

Judgement in rem is a decision on the nature of a certain subject matter, or taken in a property case, with no knowledge of the claimant or of others involved in the land.

7 0
3 years ago
The government has set a price floor on bread. Manufacturers can’t sell loaves for less than $5.00, which is a dollar above the
Aleonysh [2.5K]

Answer:

A. The quantity demanded for bread will decrease , quantity supplied will increase

Explanation:

PRICE FLOOR is the minimum mandated price set by government , usually above equilibrium price , to ensure producers' protection (if market price is perceived to be low) . EG : Minimum Support Price for agricultural products to protect farmers .

However at this raised price : There is Excess Supply , as Quantity Supplied increases with price increase (law of supply - price & supply direct relationship) , Quantity Demanded falls (law of demand - price & demand inverse relationship)  

6 0
3 years ago
Kelly tells Matthew that she will sell him one of her motorcycles at some time in the future. Matthew eagerly accepts. Do they h
WINSTONCH [101]

Answer:

Probably not, because the terms are not definite.

Explanation:

A contract is considered to be valid when there is a written or expressed agreement for one party to deliver goods or services to another.

The terms are clearly stated. For example the price, time of sale, acceptance of price, and so on.

A valid contract has the following elements: offer, acceptance, agreement, and consideration.

In the given scenario where Kelly tells Matthew that she will sell him one of her motorcycles at some time in the future and Matthew eagerly accepts. There is an agreement but there is no specific offer and consideration of price and also the time of transaction.

So the contract is probably not valid because terms are not clearly defined.

3 0
3 years ago
Question 1 (1 point)
AlexFokin [52]

Answer: $75

Explanation:

After deduction all expenses and taxes, the balance left either at hand or in bank is the discretionary income.

8 0
3 years ago
Last year, Kurt invested $1,000 in ABC stock, $1,000 in long-term government bonds, and $1,000 in U.S. Treasury bills. Over the
marin [14]

Answer:

6%

Explanation:

3 0
3 years ago
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