What is diminishing marginal utility

Reference no: EM13725622

1. Describe as way someone could use the concept of opportunity costs this week.

2. The total revenue test is an easy way to explain elasticity. Why?

3. In a market system of economics price functions as a good rationing device for scarce resources. [Use both the concepts of supply (from the prospective of a provider of a good or service) and demand (from the prospective of a consumer) in your response.]

4. Government price floors and ceilings are always successful.

5. What is diminishing marginal utility and how does it relate in someone personal life? Reply

6. Economics is a zero sum game. Explain why. Reply (60-100 words)

Reference no: EM13725622

Questions Cloud

What is the promotion goal for your current target market : What is the promotion goal for your current target market and what is the promotion goal for your potential target market

Forms of internal and external threats to an organization : Describe various forms of internal and external threats to an organization. Describe methods to detect internal and external threats to the organization.

Calculate the root-mean-squared error for forecast period : Actual sales for the year you forecast in part (a) were 17.2, 13.2, 10.8, and 14.2 for quarters 1, 2, 3, and 4, respectively. Use these actual sales ?gures along with your forecasts to calculate the root-mean-squared error for the forecast period.

Equal employment opportunity and employee rights : Refer to the Equal Employment Opportunity and Employee Rights Review, for List A and List B. Choose 3 laws form List A and B (see below):

What is diminishing marginal utility : Describe as way someone could use the concept of opportunity costs - What is diminishing marginal utility and how does it relate in someone personal life.

International hr plan : Change requires planning, including input from HR. Retention goals and future plans impact the way in which change is managed. Planning enables the organization to focus on immediate and future goals.

Prepare a case study on tom coffee cup : Prepare a case study on Tom's Coffee Cup

Discuss the brand development strategies marketers : Discuss the brand development strategies marketers use to develop brands. In addition, provide and justify an example of each strategy.Please include at least one referenced source in your post and respond to at least two student posts 250 minim..

Modifying a database design in visio : 1. Use Microsoft Visio (or open source equivalent) in which you: a. Modify the database diagram from Lab 1 with the entities and attributes that the scenario identified (i.e., a college tracking students, courses, and instructors).

User Account

All Pages