You have decided that you will buy pizza, but you are still trying to decide how many pieces of pizza you should buy. which economic principle are you taking into account?

Answers

Answer 1

The economic principle that you are taking into account is the marginal principle.

What is the marginal principle?

The marginal principle is an economic principle that states when making a decision, compare the marginal benefit of the decision to the marginal cost of the decision. The course of action should only be taken if the marginal benefit is greater or equal to the marginal cost.

Marginal cost is the additional cost generated by producing an additional unit of output. Marginal benefit is the benefit derived from consuming one extra unit of a good.

For example, the marginal benefit of the tenth and eleventh slice is $10  and $7 and the marginal cost of the 10th and 11th slice is $10. The marginal principle suggests that the person should buy only ten slices of pizza.

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Related Questions

Which one of the worst natural disasters in history is associated with international trade?

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The plague is one of the worst natural disasters in history and is associated with international trade.

Fleas primarily spread the deadly bacterial infection plague. Small rodents, which are most prevalent in Africa's rural and semi-rural areas, are home to the plague-causing Yersinia pestis organism.

Both the number of plague victims and the severity of the disease have decreased. However, it is still a problem in several regions of the world where there are numerous domestic or wild rodent populations that harbor fleas and occasionally transmit them to people.

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A driver works 40 hours a week for the first year on the job. how much does the driver earn for the year?

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A driver will earn Rs 36,800 for a year , if driver works 40 hours a week .

As he works 40 hours/ week and works for a year.

What are the total earnings of a driver in a year ?

1 year = 52 weeks.

First 4 weeks he earns Rs14/ hour

Rest of the year he earns Rs18/ hour

First 4 weeks = 40 hours x Rs 14 x 4 weeks = Rs2240

52weeks - 4weeks = 48 weeks

Rest 40 hours x Rs 18 x 48 weeks = Rs 34560

Total Earnings = Rs 2240 + Rs 34560 = Rs 36,800

The driver earns that total amount in a year.

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Explain the basic assumption of economics with respect to rational self-interest. Describe two detailed real-life examples applying the assumption.

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When making economic decisions, economists make assumptions in order to better understand how consumers' and businesses' behaviour.

To assist explain how an economy works and how to maximise growth, income, and employment, there are numerous economic theories.

However, preferences—that is, what companies and customers like to have or prefer to avoid—are central to many ideas. Additionally, the assumptions frequently concern the resources that are or are not readily available to meet the demands and preferences. The decisions that individuals involved in an economy make are significantly influenced by the availability or scarcity of resources.

Learn the rationale behind economists' assumptions and how they affect economic models.

When making economic decisions, economists make assumptions in order to better understand how consumers' and businesses' or  economic behaviour.

Economists They use assumptions in order to build a model that they can control because they are unable to isolate certain factors in the real world.

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With respect to cost classifications for assigning costs to cost objects:
a. what is total direct manufacturing cost?
b. what is the total indirect manufacturing cost?

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With respect to cost classifications for assigning costs to cost objects, the total direct manufacturing cost is the amount of money a company spends on its manufacturing operations.

The total direct manufacturing cost means the costs necessarily and reasonably incurred in the manufacture of the commercial products. So in order to determine per unit cost of a product, you have to calculate the total manufacturing cost of all the items manufactured during that given period.

For assigning costs to cost objects classification, the total indirect manufacturing costs are production costs which cannot be directly associated with a produced unit.

Hence, the total direct manufacturing costs are often variable costs.

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A global environmental scan, marketing research, and judgments based on experience will determine the extent of ________ that global marketing programs will have.

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A global environmental scan, marketing research, and judgments based on experience will determine the extent of standardization or customization that global marketing programs will have.

This is further explained below.

What is standardization?

Generally, Standardization is the process of establishing and defining technical standards based on the agreement of several stakeholders including corporations, users, interest groups, standards bodies, and governments. Standardization may also be spelled as standardization.

In conclusion, The degree of uniformity or customization that will be included in global marketing programs will be determined by doing a global environmental scan, conducting marketing research, and making judgments based on previous experience.

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Herrera corporation has total sales of $3,110,400 and costs of $2,776,000. depreciation is $258,000 and the tax rate is 21 percent. the firm is all-equity financed. what is the operating cash flow?

Answers

The operating cash flow for the given information is $318356.

What is operating cash flow?

The amount of cash created by a company's typical business activities is measured as operating cash flow (OCF). Operating cash flow reveals whether a firm can create enough positive cash flow to sustain and increase its operations; otherwise, external finance for capital growth may be required.

The computation of the operating cash flow is done as follows-:

Sales                                                 3110400

(-) COGS                                            (2776000)

EBITDA                                              334400

(-) Depreciation                                  (258000)

=EBIT                                                    76400

(-)Interest                                                  0      

= Earning before tax                              76400

(-)Tax 0.21                                                 (16044)

                                                                318356

= Net Income or Earnings After Tax, 16044 (0.21 *EBIT)

= Operating Income (EBIT)

= 318356 (EBIT + Depreciation - Net Income or earnings after taxes)

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To calculate the unit product cost using the job cost sheet ______ by the number of units produced.

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To calculate the unit product cost using the job cost sheet: divide the total job cost by the number of units produced.

What is Unit product cost ?

Unit product cost  can be described as the  total cost of a production run,  which is been divided by the number of units produced.

It should be noted that this help the company to have the understanding about  how costs are accumulated since it could include hundreds or thousands of units per batch, hence To calculate the unit product cost using the job cost sheet: divide the total job cost by the number of units produced.

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if decking cost $3.25 per square feet, how much would it cost to build a deck that is 25 feet by 20 feet?

Answers

Answer:

1625

Explanation:

25*20=500

3.25*500=1625

"corporate in-fighting," "management power struggles," "maneuvering and politics and power grabbing," and "machiavellian intrigues" are all phrases h. Ross perot uses to describe.

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"corporate in-fighting," "management power struggles," "maneuvering and politics and power grabbing," and "machiavellian intrigues" are all phrases h. Ross Perot uses this to describe the reality of corporate life.

This is further explained below.

What is corporate life?

Generally, The phases of expansion and development that practically every corporation goes through may be summed up under the term "corporate life cycle."

This cycle begins with the founding of the organization and continues until its demise, which can occur in a number of different ways. The following are the four phases that make up a business's life cycle: Startup stage. Phases of growth and being established

In conclusion, J. Ross Perot employs a number of different terms to characterize the realities of life in corporate America. Some of these expressions include "corporate in-fighting," "management power battles," "maneuvering and politics and power grabbing," and "machiavellian intrigues."

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Corporation and limited liability (limited partnership) company taxed twice.
a. true
b. false

Answers

Option[A] is the correct answer.

Corporation and limited liability (limited partnership) company taxed twice.

Before any earnings may be distributed to shareholders, the corporation must pay income tax at the corporate rate. Any gains that are then dispersed as dividends to shareholders are again taxed at the recipient's individual rate. The company profits are thus subject to two separate income tax rates.

What is Double Taxation?

When business profits are taxed both at the corporate and personal levels, C corporations are subject to double taxation. Before any earnings may be distributed to shareholders, the corporation must pay income tax at the corporate rate. Any gains that are then dispersed as dividends to shareholders are again taxed at the recipient's individual rate. The company profits are thus subject to two separate income tax rates.

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What social issue was raised by the philanthropic activities of many american business leaders during the gilded age?.

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The main issues was raised by the philanthropic activities of many American business leaders are the paying the lower wages to the labor and the worker.

What is business?

The term business refers to the earning the profit. The business is the taking the risk and the earning the profit. The business are the mainly focuses to the activity of the creating, distribution and selling concept based.

During the period of the gilded age, the primary social issues of the philanthropic activities of many American business owners were the paying of lower wages to the workers.

As a result, the business owner paying the lower wages to the workers.

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A venture capitalist is not entitled to legal recourse if he does not get his money back from investing in your start-up because he has an?

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The answer is equity or ownership.

A venture capitalist is not entitled to legal recourse if he does not get his money back from investing in your start-up because he has an equity or ownership stake in the firm.

Who is a venture capitalist in a firm?

A private equity investor known as a venture capitalist (VC) lends money to businesses with strong development potential in exchange for an equity stake. This could involve providing beginning capital or aiding small businesses that want to grow but lack access to equity markets.

VCs generate revenue in two ways. Entrepreneurial investors have two methods to profit. The first is a charge for managing the company's capital. The second is what is known as the "carry," which is carried interest on the fund's return on investment.

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If you are planning an extended drive, advance preparation can pay off in terms of:______.

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If you are planning an extended drive, advance preparation can pay off in terms of Fewer troubles, fuel savings and enhanced safety.

What is safety in driving?

When operating a motor vehicle, defensive driving refers to the practice of predicting dangers despite unfavorable road conditions or other drivers' errors.

By following the rules and regulations pertaining to road safety, incidents on the road can be avoided. Driving skillfully and cautiously is essential for ensuring the safety of drivers, passengers, and pedestrians on the road. It's crucial to build better roads if you want to reduce collisions.

By driving safely and steadily, defensive driving practices lower the risk of an accident or incident and can even save money on fuel and car maintenance.

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Notice that the marginal benefit of each additional shield decreases. explain why this would likely happen in real life.

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Based on the marginal benefit of each additional shield decreasing, the reason why it would happen in real life is that there are additional advantages as quantity consumed increases.

Why does marginal benefit decrease?

Marginal benefit will decrease as more goods are acquired because the benefit that each additional shield will bring is less than what the last shield would bring.

Take this example for instance. You wanted ice cream and as you kept taking more ice cream, you wanted more and more at first but then began to want less and less ice cream because you were getting full.

This is the same with the shields. As you acquire more shields, they become less useful because you can't use all of them. This shows that the marginal benefit has decreased.

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Mission statements should be defined in terms of satisfying basic customer needs. in other words, they should be __________.

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Mission statements should be defined in terms of satisfying basic customer needs. In other words, they should be market-oriented.

Mission statements are documents of a firm that states its basic values and objectives. These include the principles fundamental to the firm, the kind and quality of product it aims to provide, and a commitment to meet the various needs of customers and other stakeholders.

Because the basic objective of firms is to earn profits, and profits are attained only by attracting and retaining customers, the mission statements of firms have to be market oriented. To be market oriented is to be cognizant of the prevailing demands, customer sentiments, and even social attitudes.

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A salamander relies on hydrogen bonding to stick to various surfaces. therefore, a salamander would have the greatest difficulty clinging to a _____.

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A salamander relies on hydrogen bonding to stick to various surfaces. therefore, a salamander would have the greatest difficulty clinging to a surface of hydrocarbons.

What is a hydrogen bonding?

It refers to the interaction involving a hydrogen atom located between a pair of other atoms having a high affinity for electrons, such bond are weaker than an ionic bond or covalent bond but stronger than van der Waals forces.

They can exist between atoms in different molecules or in parts of the same molecule. One atom of the pair such as a fluorine, nitrogen or oxygen atom, is covalently bonded to a hydrogen atom whose electrons it shares unequally.

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Assigning a high-performing sales associate to work with the company's most important client is an example of ________.

Answers

Assigning a high-performing sales associate to work with the company's most important client is an example of: D. redeployment.

Who is an employee?

An employee can be defined as an individual who is statutorily employed by an employer of labor in a business firm, so as to perform specific tasks, duties or functions on a daily basis for a certain agreed fee (salary), that is usually paid at the end of the month.

What is redeployment?

Redeployment can be defined as a strategic workforce management process which typically involves reassigning job positions, especially by moving an employee from one job, department, or role to another. Also, the reason for redeployment may be due to level of performance, employee absence, shortage of staffs, client status, etc.

In this context, we can reasonably infer and logically deduce that when a high-performing sales associate is assigned to work with the company's most important client, it is an example of redeployment.

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Complete Question:

Assigning a high-performing sales associate to work with the company's most important client is an example of ________.

A. succession planning

B. selection

C. matchmaking

D. redeployment

In 2021, individuals with earned income who are age 50 or over are permitted to make an extra annual ira contribution of:________
a. $1,000
b. $2,000
c. $3,000
d. $4,000

Answers

The correct answer is (a) $1,000 .

A $1,000 IRA payment is allowed for people 50 and older, bringing the maximum authorized contribution up to $7,000.

What is an IRA?

You may save money for retirement tax-advantageously with an individual retirement account (IRA). With the help of an IRA, a person can save money for retirement while enjoying tax-free growth or deferring taxes. An IRA is a financial institution-created account.

How do IRAs function after retirement?

With a typical IRA, you may postpone paying taxes now until you take the funds for retirement. A conventional IRA can help you save money in the long term if you anticipate being in a lower tax band in retirement. It also offers certain unique, penalty-free withdrawals for specific expenditures.

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One way the package software firm, intuit has approached the future and avoided disruptive innovation was to?

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The package software company, intuit, bought mint.com as one strategy for anticipating the future and avoiding disruptive innovation.

A disruptive innovation is one that makes products and services simpler and more accessible to underserved or untapped markets.

Traditionally, established businesses focus on refining their goods and services for their lucrative clientele, usually ignoring the requirements and preferences of undeveloped markets. This lack of focus allows smaller businesses or newcomers the opportunity to reach this disregarded group with easier, more accessible choices.

On the other side, sustaining innovation refers to the practice of inventing to improve current goods and services for the client base already present, either in response to consumer or market demands.

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When were cooking guilds formed, establishing many of the professional standards and traditions still used today?.

Answers

The period when cooking guilds formed, establishing many of the professional standards and traditions still used today were formed was 1400-1600 A.D. during the Renaissance.

How did the Renaissance impact society?

Art, science, and culture underwent a new transformation throughout the Renaissance. With first the rediscovery of classical philosophy, literature, and art, as well as the new discoveries in travel, invention, and style, it altered the way the citizens thought.

The Renaissance demonstrates the value of looking to the past for solutions to current problems and inspiration. By looking to the past for advice today, we can uncover not just potential sources of solutions, but also strategies for overcoming problems that earlier cultures have had to deal with.

It should be noted that during this period, people tried out new things and this was when cooking guilds weee formed, which established many of the professional standards and traditions still used today.

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One way that the world bank might experience an adverse selection in its own lending is if __________.

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Adverse selection describes situations when high-risk persons are more likely to receive insurance or when one bargaining side has important knowledge that the other does not. Our goal is to influence decision-makers, both inside and outside of government, to consider the future and adopt long-term plans.

When vendors and/or purchasers have different knowledge about a certain component of a product's quality, this is referred to as adverse selection. Thus, those who work in hazardous environments or lead high-risk lives are more likely to buy life or disability insurance, knowing that they will likely be able to use it.

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A long-standing company is expanding their existing workforce. what, in all likelihood, will they invest in terms of computing capabilities?

Answers

By restructuring and creating practical training materials, encouraging a productive and employee-centered workplace, and making sure that every member of your organization is fairly compensated, rewarded, and held accountable, investing in your staff can have significant and advantageous effects on your business.

This technique has developed over time into high-frequency big data analysis, which is currently the standard in the financial industry. It gives investors the opportunity to make a more thoughtful choice by assisting them in discovering efficiencies in areas they either didn't consider or couldn't reach before.

By automating repetitive operations like payroll, bookkeeping, and record-keeping, computers cut expenses. Enhance supplier or customer connections. Develop more effective communication inside the organization or with consumers. Boost staff productivity and corporate efficiency.

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When an individual qualifies for a lower premium or rate than standard risks, the insured is considered a?

Answers

When an individual qualifies for a lower premium or rate than standard risks, the insured is considered a Preferred risk

What is an Insurance?

Insurance protection against loss is offered by insurance. It is a form of risk management that is mostly used to reduce the risk of a potential loss that is unknown or contingent. A business that provides insurance is known as an insurer, insurance firm, insurance carrier, or underwriter.

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Which one of the following is a factor that could increase the level of risk in a business
a) seasonal demand
b) having a large target market
c) employing a large number of employees

Answers

Answer:

I guess the answer is , a) seasonal demand

Explanation:

seasonal demand :-

Seasonal demand is defined as a certain time series with repetitive or predictable patterns of demand due to re-occurring seasonal events.

Financial statements are typically prepared before completing the adjusted trial balance. True or false?.

Answers

The statement "Financial statements are typically prepared before completing the adjusted trial balance" is false

What is an adjusted trial balance?

An adjusted trial balance details all general ledger account balances after any adjustments have been accounted for. The adjustments, in this case, would normally  include those for prepaid and accrued expenses, as well as non-cash expenses like depreciation or amortization.

Note that the fully adjusted trial balance is required to prepare the financial statements, since the closing entries are also integral part of the financial statements, as a result, the financial statements are prepared after the adjusted trial balance has been completed.

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If sales increase while there is no change in accounts receivable, the receivables turnover ratio will ______.

Answers

When there is an increase in sales and yet there is no change in accounts receivable, the receivables turnover ratio will Increase.

What is the receivables turnover ratio?

The receivables turnover ratio refers to the measure that shows the number of times a company will have to collect money from its receivables in a given period.

If there is an increase in sales and yet the account receivables does not change, this means that there are now more account receivables. The receivables turnover ratio will have to increase to show that the company will need to collect more receivables.

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________ evolved because of broader and more diverse product lines, demand for specific customized solutions, and more competition.

Answers

strategic selling evolved because of broader and more diverse product lines, demand for specific customized solutions, and more competition.

What is strategic selling?

Strategic selling entails directing current sales activity toward the company's long-term performance goals. It also entails prioritising the buyer's issues when making a sale in order to build long-term relationships with the customer. The sales method is determined by the goods being offered as well as the consumer preferences. To effectively use strategic selling approaches, a company's personnel must maintain integrity while they highlight specific characteristics of a product and guarantee they follow through on promises made to the buyer. Strategic selling tactics are used in businesses to increase sales volume and develop long-term relationships with clients.

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A mutual fund in which no sales charge is paid by the individual investor is called a(n) ________ fund.
a. closing fund
b. convertible load
c. no-load
d. open-minded

Answers

The correct option is C ( no-load fund). A mutual fund in which no sales charge are paid by the individual investor is called a no load fund.

A No-load fund is a fund that doesn't charge any type of sales load. No-load also includes the operating expenses. Not all type of shareholder fee is a sales load. These fund may charge fees that are not sales loads. A fund can only market themselves as no load fund when charges are less than allowed 12-1b charges. These are controlled by Financial Regulatory Authority (FINRA).  These funds do not charge a front or backlog sales fees, they make up their charges by including other fees. Thus option C (no-load fund) is correct.

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The process whereby a product formerly associated with a specific ethnic group is detached from its roots an?

Answers

The process of de-ethnization is underway.

the required details about de-ethnization is mentioned below

What does de-Ethnicization mean exactly?

Abstract. The "undoing" of societal barriers put in place to protect the authenticity of (alleged) ethnic-cultural heritages is known as de-ethnicization.

The creation of such borders is ethnicization. In any case, developments can be aided by the media.

De-ethnicization is the process of losing one's ethnic identity, devaluing one's culture, and doing away with the accompanying rites, customs, and practices.

Globalization is considered to be one of the main causes that contributed to the birth of this phenomenon since more people are seeking to embrace modernity, enrolling in formal education, embracing mobility, and living in cities.

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Magnolia inc., an american software development company, has opened a call center in india. the company has hired indian employees to work in the call center. this scenario is an example of _____.

Answers

Magnolia inc., an American software development company, has opened a call center in India. the company has hired Indian employees to work in the call center. this scenario is an example of offshoring. Thus, option A is correct.

What is the company?

A company is a corporate body established by a collection of people to conduct and manage a multinational corporation, whether it be economic or manufacturing.

Offshoring can be defined as when a country or a business gives its business to another company to process and this scenario is called as offshoring.

For example, in the given scenario Mongolia is a software development country who have given call center job to the people who are in India the scenario is called an of offshoring scenario. Therefore, option A is the correct option.

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The question is incomplete, the complete question will be:

A) offshoring

B) insourcing

C) dejobbing

D) homeshoring

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