Please note that the term marginal utility is used to describe the additional benefit or utility gained by a consumer from purchasing and using an additional unit of a product or service.
<h3>What is Marginal Utility used for?</h3>
In social science - economics, Marginal Utility is used to calculate how much of an item or service a consumer will be ready or willing to purchase.
It aids the economist to determine consumer behavior in relation to the way a person would spend their income on various goods in order to gain the most benefit possible.
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brainly.com/question/15050855
Answer:
She must be paid overtime
Explanation:
Based on federal and state laws on overtime, hourly employees such as Ella who work more than 40 hours in a single workweek must be paid a higher wage for every hour past 40. overtime rate should be at least one and a half times Ella's regular pay rate.
The Fair Labor Standards Act (FLSA) states that working over 40 hours in a 168 hour period is counted as overtime
Therefore Ella is eligible for an overtime.
Answer:
$
Material used 2,500
Direct labour 5,000
Overhead applied 200
Cost of goods sold 7,700
Explanation:
The overhead applied is the difference between cost of goods sold and cost of material used and direct labour. The cost of goods sold is $7,700 while the cost of material and labour is $7,500. The difference of $200 represents the overhead applied.
Answer:
Sales prospecting is one of the most essential elements of the whole sales process.
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Answer:
The government agency is providing basic and/or essential services that further deepen the interests of members of the public
Explanation:
The assertion that a firm with a monopoly power loses it freedom of contract is very true. Monopolies by its realities come with features that ultimately cater for the interests of the firm, instead of the consumers. One of these is charging an astronomical high price on a particular item of commodity, and not taking cognizance of the purchasing power of the public. A firm could to this, and ultimately get away because its the only delivering such services - the one with the enormous monopoly power. Here, there is no stiff competition among goods that may offer liberty of choices to ordinary consumers.
To mitigate these numerous power of monopolies, governmental body has been giving the power to regulate and maintain an oversight functions. They now determine the provisions of contracts. The main objective of government agency, thus, is to ensure a firm with a monopoly power considers the basic and essential interests of the members of the public - the end users. Here, members of the public are insulated from unnecesary exploitation by the monopolies.
