Discretionary meaning is the ability to make decisions based on one’s own judgement and experience. It involves the consideration of many factors, including ethical and moral considerations, and is often used in situations where there is no clear answer or the situation is complex.
What is Discretionary?
Discretionary refers to a decision that is left up to you. You have the choice not to take regular baths; keep in mind, though, that your friends could perhaps disagree together on this. Bathing is a discretionary act. When money isn't set aside for a specific use, it's often referred to as discretionary. How discretionary funds should be used is up to the decision-makers in charge. The word discretion is the root of the word discretionary, which can be defined as "the right to decide stuff based on one's own judgement." If you're given a task to finish at your discretion, you can choose how to do it — as well as whether you want to do it at all.
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Brenda sees a television advertised around $500. when she finally buys one for $450, she feels she got a good deal. in this case, the $500 price acted as an anchor.
A cognitive bias known as the anchoring effect describes a common human tendency to excessively rely on the initial piece of information proposed when making a decision.
Anchoring occurs when people base subsequent judgments on an earlier piece of information during decision-making. Once an anchor is established, subsequent decisions are made by moving away from it, and there is a bias toward framing subsequent data in relation to the anchor.
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Solution :
Amy can only change the number of workers. As the fixed input cannot be changed in the short run, so in the short run, the workers are the variable inputs and the ovens are the fixed inputs.
a). Marginal Product of labor
No. of workers The Output The Marginal product of labor
0 0 ---
1 60 60
2 100 40
3 130 30
4 150 20
5 160 10
The marginal product of the labor is the change in the quantity i.e pizza as Amy hires an additional worker.
1 worker raise the output to 100, so the marginal product of labor of 1 worker is 100 and so on. The marginal product of the labor = change in the output / change in the number of workers.
b).
No. of workers The Output The Fixed cost The Variable cost Total cost
0 0 20 0 20
1 60 20 30 50
2 100 20 60 80
3 130 20 90 110
4 150 20 120 140
5 160 20 150 170
The fixed cost remains the same but the variable cost increases as one more worker is hired.
The law of the diminishing the marginal product of labor is determined by = total output increases at the decreasing rate as we increase the quantity of the labor.
Answer:
The correct option is B
Explanation:
Sierra offers to sell a puppy to Alyssa for the amount of $800. And they did not discuss the ancestry of the dog but Alyssa believes that the dog is from champion line. So, agreed on the same.
But later on she discovered the fact the she has been overpriced. So, grounded on this she is not allowed to revoke the contract. As she made made a mistake regarding the value or the worth of the dog not on the material fact of the dog.
All else equal, if the required reserve ratio falls the money multiplier increases.
<h3>Required Reserve Ratio</h3>
- The amount of each deposited dollar that a bank is required to hold in reserve with the Fed is known as the necessarily required reserve ratio.
- Banks are permitted to allocate higher percentages of incoming deposits to Excess Reserves rather than Required Reserves if this number falls, which will increase the rate of loan growth.
- Banks lend money to clients based on a portion of the available cash.
- In return for this power, the government imposes one condition on them: they must maintain a specific level of deposits to cover potential withdrawals.
- The reserve requirement is the amount that banks must reserve and above which they are not permitted to provide loans.
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