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2 years ago

Define term total utility and marginal utility

2 answers:

7 0

Term total utility: The utility is the satisfaction that an individual derives from consuming a good or service. Similarly, total utility is the total satisfaction received from consuming a given total quantity of a good or service.

Marginal utility: Marginal utility is the added satisfaction a consumer gets from having one more unit of a good or service. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase. ... Marginal utility can be positive, zero, or negative.

kherson [118]2 years ago

6 0

Answer:

While total utility measures the aggregate satisfaction an individual receives from the consumption of a specific quantity of a good or service, marginal utility is the satisfaction an individual receives from consuming one additional unit of a good or service.

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2 years ago

Jody is an agent for Kwik Credit Company (KCC). In the course of Jody's performance for KCC, Jody pays Leo for certain auto main

Serjik [45]

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D. Reimbursement

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3 years ago

Read 2 more answers

Gaden company sells a product for $50 per unit. Warialbe costs are $40 per unit. Calculate the contribution margin per unit, in

max2010maxim [7]

The Garden company sells a product for $50 per unit. Variable costs are $40 per unit. 50 % of the contribution margin per unit, in total, and as a ratio.

Selling price per unit - Variable cost per unit = Contribution margin per unit

50 - 25 = $ 25

Sales - Variable cost = Contribution margin

( 610 * 50 ) - ( 610 * 25 ) = $ 15250

Contribution margin / Sales = Contribution margin ratio

15250 / 30500 = 50%.

Variable costs are directly related to the cost of producing goods and services, whereas fixed costs do not change with the level of production. Variable costs are commonly referred to as COGS, but fixed costs are not usually included in COGS. Fluctuations in sales and production levels can affect variable costs when factors such as sales commissions are included in the unit price of production. On the other hand, fixed costs still have to be paid, even if production slows down significantly.

Learn more about Variable costs at

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9 months ago

Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 $ 260,000 Accounts Rec

Amiraneli [1.4K]

Answer:

1. Suzuki estimates 12% of receivables: Net income (before taxes) in 2021 decreases by $5,500 and total assets in 2021 decreases by $5,500

2. Suzuki estimates 3% of credit sales: Net income (before taxes) in 2021 decreases by $7,800 and total assets in 2021 decreases by $7,800

Explanation:

1. Suzuki estimates 12% of receivables

Bad debts are estimated: 12% x $55,000 = $6,600

Before adjusting, Allowance for Uncollectible Accounts balance of $1,100 (credit).

Bad debts expense = $6,600 - $1,100 = $5,500

The entry will be made:

Debit Bad debts expense $5,500

Credit Allowance for Uncollectible Accounts $5,500

Net income (before taxes) in 2021 decreases by $5,500 and total assets in 2021 decreases by $5,500

2. Suzuki estimates 3% of credit sales

Bad debts are estimated: 3% x $260,000 = $7,800

The company uses the percentage of sales method.

Bad debts expense = $7,800

The entry will be made:

Debit Bad debts expense $7,800

Credit Allowance for Uncollectible Accounts $7,800

Net income (before taxes) in 2021 decreases by $7,800 and total assets in 2021 decreases by $7,800

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2 years ago

Describe the learned hand rule, and discuss the economic logic underlying it. do you believe the objective is being achieved?

klemol [59]

Learned Hands favored an interventionist central government economic policy. He was also influenced by the distribution of wealth. Roosevelt's radical economic reforms including the New Deal Policy. However, was vigilant on the dangers of an authoritarian government and did not agree of "packing the court".

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3 years ago

Define term total utility and marginal utility​

Define term total utility and marginal utility