Joe should decrease his consumption of crackers and his marginal utility from crackers will increase and also increase his consumption of cheese and his marginal utility from cheese will decrease .
<h3>What happens to marginal utility when consumption decreases?</h3>
According to the Law of Diminishing Marginal Utility, the additional utility derived from increasing consumption declines with each additional increase in consumption level.
What happens to marginal utility when consumption increases?
According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.
Why does marginal utility decrease as more is consumed?
- Consumers will only purchase more of a specific good if the price drops since they get less satisfaction from consuming more units of that good.
- Thus, the law of diminishing marginal value contributes to the understanding of the law of demand.
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They should agree to work together to develop a plan to maximize their combined revenues and Profits.
When it comes to business success, profitability and expansion go hand in hand. Growth is essential to long-term success and profit, whereas profit is necessary for a corporation to survive financially on a fundamental level. Investors should consider each consideration in light of the individual company in question.
Increasing profitability can also assist businesses in obtaining capital from financial institutions, investors, and shareholders. If a business is currently not profitable, growing profitability may enable the eventual production of profit, which ultimately enables the business to continue to operate.
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Procedures are in place that ensure that subjects will be covered in a manner proportionate to the Common Rule, including inspection by an independent committee comparable to an IRB.
<h3>What is meant by an assurance of compliance?</h3>
An institution must provide a written assurance of compliance with the conditions of the assurance and the requirements of 32 CFR Part 219, as determined by the Human Study Protection Official to be suitable for the research supported by the Department of Defense (DoD) component (32 CFR 219.103).
The word "compliance assurance" refers to all the steps an organisation takes to make sure that rules, policies, and procedures are followed and are perceived to be followed. The IRB's main goal is to uphold the rights and welfare of any human subjects involved in research projects that fall within its purview.
Hence, Procedures are in place that ensure that subjects will be covered in a manner proportionate to the Common Rule, including inspection by an independent committee comparable to an IRB.
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Average total cost is minimized at 10 units of output.
As per the relationship between the two, at such a point average cost is the lowest and after that, from the next unit onwards it starts rising.
<h3>By marginal cost, what do you mean?</h3>
The term "marginal cost" describes the rise in manufacturing costs brought on by the creation of more product units. A different name for it is the marginal cost of production. Businesses may evaluate how volume produced affects cost and, eventually, profitability by calculating the marginal cost.
<h3>What does "total average cost" mean?</h3>
The average total cost is calculated by dividing the total cost of production by the total output. In other words, the average cost is the sum of the firm's total fixed and variable costs divided by the sum of the units it produces.
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Answer:
Date Account and Explanation Debit Credit
Bonds payable $476,000
Loss on bond redemption $7,140
(461,720 - 454,580)
Cash $461,720
(476,000 * 0.97)
Discount on bonds payable $21,420
(476,000 - 454,580)
<em>(To record redemption of the bonds)</em>
