Answer: Law of diminishing marginal utility
Explanation: In simple words, law of diminishing marginal utility states that as a consumer consume more of a good or service then the marginal benefit he or she receives from the additional consumption keeps on decreasing.
In the given case, Jenny's excitement keeps on decreasing with every chocolate she receives after a certain point of time.
Hence we can conclude that the given case illustrates law of diminishing marginal utility.
I do not agree with the given statement that is "Only variable costs can be differential costs.".
The difference in the costs of two alternative decisions is referred to as differential cost.
When a company is faced with several similar options, it must make a decision by selecting one and discarding the other.
Variable costs in cost accounting are costs that vary according to how much a company produces.
Variable costs are typically proportional to output.
As a result, the cost difference between two alternatives, rather than the fixed and variable nature of costs, is relevant for decision-making.
Hence, I disagree with the statement given in the question.
Learn more about variable cost:
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Answer:
problems
before
franchise
idea
Any two of these:
Make time to meet with clients instead of talking on the phone.
Join a business networking group.
Take business colleagues or prospects out to lunch at least once a week.
Teach a workshop in your field at the community college.
Any two of these
Freedom
Creativity
Profit
Explanation:
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Answer:
C) credit Sales Tax Payable for $21
Explanation:
Based on the information given In the same transaction, they must also CREDIT SALES TAX PAYABLE FOR $21 Calculated as:
First step is to calculate the sales tax element
Sales tax element = $371*6/106
Sales tax element= $21
Now let calculate what the Price exclusive of sales tax would be
Price exclusive of sales tax=$371-$21
Price exclusive of sales tax= $350
The correct journal entry should be:
Dr Cash $371
Cr Sales revenue $350
($371-$21)
Cr Sales tax payable $21
Answer:
b. Dominates a particular target market although its overall market share may be low.
Explanation:
- A niche strategy of the porter was to come with the product that fills the market segment and is characterized by the narrow specialization of the services focusing on a specific need.
