Answer: The marginal utility is 2
Explanation:
Utility is the satisfaction derived from the consumption of a particular commodity. Total utility is the total satisfaction derived from the consumption of a particular commodity. Marginal utility is the extra satisfaction that a consumer gets from consuming a product. Utility is measured in utils.
Marginal utility increases with an extra consumption of a good at first but later it begins to reduce as the extra good consumed doesn't really have give the consumer enough satisfaction anymore.
Regarding the question, eating 5 hotdogs gives 40 utils and eating 6 hotdogs gives 42 utils.
The marginal utility is the extra utils which will be 42-40 which gives 2 utils.
Answer:
It often proves difficult to actually realize the change that you have come up with. Especially when it comes to cultural or behavioral change. We want to show that change is not so much something that you have to get others to join. You have to make your change part of it
Answer:
c. 7%
Explanation:
According to the given scenario, the computation of the annual stated interest rate on the bonds is shown below:-
Sated interest Rate = Cash interest ÷ Face Value of the bond × 2
= $7,000÷ $200,000 × 2
= 7%
Therefore for computing the annual stated interest rate on the bonds we simply applied the above formula. hence the correct option is c
Answer:
True
Explanation:
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources
The question is looking at the effect of price on an industry. This is what microeconomics study
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
Answer:
b. products that have identical attributes, such as frozen yogurt.
Explanation:
A monopoly is formed when a firm or a group of firms have a an unfair advantage in supplying a product and faces no competition while operating.
It is important to identify the market where the monopolist exists.
In the given scenario where Dairy Cream wants to merge with EZ Freeze Inc., its main competitor and a maker of ice cream and other frozen desserts. The merger will eliminate competition and the product market is defined under ice cream and products that have identical attributes, such as frozen yogurt.
