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Zanzabum
2 years ago
7

Which best describes the relationship between total utility and marginal utility?.

Business
1 answer:
vesna_86 [32]2 years ago
6 0

The correct answer is: Total utility rises first but the begins a sudden fall when the marginal utility points toward the negative while Marginal utility falls when each unit is purchased.

<h3>What is utility?</h3>

Utility is a form or state of being profitable or beneficial. It shows the usefulness of the item to an individual.

Marginal utility is the addition made to total utility while total utility is the aggregate of all utility that is derived by the consumption of all commodities.

Learn more about Utility here:

brainly.com/question/20659068

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Suppose there are only two goods in the world, x and y. Assume the consumer has spent all their money so they are on their budge
Paraphin [41]

Answer:

Consumption of good y should decrease

The Marginal Utility should also decrease

Explanation:

Marginal utility of a good is the added satisfaction that a consumer gets from consuming additional units of the good.

Given the two goods x and y, and MUx/Px > MUy/Py.

The Marginal Utility Price Ratio indicates the Utility/Satisfaction derived from the last Dollars spent.

To allocate a budget efficiently, the marginal utility for each item should be equal.

A good has a higher marginal utility-price ratio is the good that the consumer should consume more of.

If the Marginal Utility-Price ratio of good x is greater than that of good y, your consumption of good y should decrease and therefore, the MUy will also decrease.

6 0
3 years ago
G.R. Dry Foods Distributors specializes in the wholesale distribution of dry goods, such as rice and dry beans. The firm’s manag
slamgirl [31]

Answer:

d. The price will decrease, because dry beans and rice are inferior goods.

Explanation:

the options are missing, so I looked them up:

a. The price will decrease, because dry beans and rice are normal goods.

b. The price will increase, because dry beans and rice are normal goods.

c. The price will increase, because dry beans and rice are inferior goods.

d. The price will decrease, because dry beans and rice are inferior goods.

Inferior goods are those goods whose quantity demanded decreases as consumer income increases. This happens because inferior goods have several substitute products that cost more, but as consumer income increases, consumers will tend to purchase the more expensive substitute goods instead of the cheaper inferior ones. I.e. as consumer income increases, they will seek to purchase higher quality goods, and inferior goods are generally low quality goods that are mostly purchased by people located at the lower socio-economic classes. Other examples of inferior goods are canned meat, instant noodles and cheap frozen foods.

Since the quantity demanded of inferior goods decreases as the economy improves, the demand curve shifts to the left, which will result in a lower equilibrium price.

7 0
3 years ago
When setting up an ecommerce shop, which stage of the searcher’s intent should youfocus?
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Answer:

Research

Explanation:

An e-commerce shop is an online based store where the seller lists items for sale and customers search and select and order the ones they would like to purchase. The stage of the searcher's intent an e-commerce owner would focus on is the <em>research stage. </em>Their website should always be at the top of the potential customers' search engines. This would increase the likelihood of them committing and making a purchase.

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3 years ago
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A food truck is an example of which kind of distribution channel?
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Did you ever find the answer?

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