When would a goods total utility and marginal utility be the same?
Question:
When would a good’s total utility and marginal utility be the same?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
The total and marginal utilities of a good are the same for the first unit of the g...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The difference between total utility and marginal utility is that: a. Both represent the satisfaction obtained from most all goods and services. b. Total utility is the satisfaction from consuming a...
-
CANMNMM January of this year. (a) Each item will be held in a record. Describe all the data structures that must refer to these records to implement the required functionality. Describe all the...
-
Wallace and Brace CPA assign a partner to screen and recommend (or decline) potential clients prior to acceptance. Discuss at least 4 specific issues which should have been considered prior to...
-
Shown here is a list published by Electronics Weekly.com of the top five semiconductor companies in the United States by revenue ($ billions). a. Construct a bar chart to display these data. b....
-
Over the course of a recent six-month period, Google's current ratio increased from 8.77 to 1191 Does this make G000te more or less of a credit risk in the eyes of potential lenders? Why?
-
How can external auditors attempt to uncover motivations for committing fraud?
-
To earn a planned net income, the required contribution margin must equal what two amounts?
-
Kryll Company set the following standard unit costs for its single product. Direct materials (25 Ibs. @ $ 4 per Ib.) . . . . . . . . . . . . . . . . . $ 100.00 Direct labor (6 hrs. @ $ 8 per hr.) . ....
-
Required: A bank is quoting the following exchange rates against the dollar for the Swiss franc and the Australian dollar: SFr / $ = 1 . 5 9 7 4 8 4 A$ / $ = 1 . 7 2 5 3 6 3 An Australian firm asks...
-
Alessandro purchases two goods, X and Y, and the utility gained for the last unit purchased of each is 16 utils and 23 utils, respectively. The prices of X and Y are \($1\) and \($1.75,\)...
-
What does falling total utility imply for marginal utility? Give an arithmetical example to illustrate your answer.
-
True or False? A trailer node is a placeholder node at the end of a list, which is used to simplify list processing.
-
The Rim Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given...
-
Assume Jones Electronics has excess cash to invest and buys $200,000 of face value 5%, five year, Beck Company bonds on January 1 of the current year. The bonds pay interest on June 30 and December...
-
Calculate the number of units sold and units remaining in ending inventory. Book "rint erences Check my wa Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made...
-
Saddleback Company makes camping lanterns using a single production process. All direct materials are added at the beginning of the manufacturing process. Information for the month of March follows:...
-
Pureform, Incorporated, uses the weighted - average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first...
-
On November 1 of the current year, Rhea Quade established a business to manage rental property. She completed the following transactions during November: a. Opened a business bank account with a...
-
(a) Explain why the concentration of dissolved oxygen in freshwater is an important indicator of the quality of the water. (b) How is the solubility of oxygen in water affected by increasing...
-
On December 22, the owner of JJ's Bistro withdrew $3,000 for personal use. How would this transaction be recorded on the company's books, assuming the company uses special journals? a. Recorded as a...
-
Musuk Spices Company (MSC), Delhi, India, plans to set up a new plant at one of the following two locations: Bhopal and Agra in India. The fixed costs per year will be $ 450,000 and $ 300,000 per...
-
On August 1, 2023, Fitch Downgraded the United States' Long-Term Ratings to AA+ from AAA. According to Fitch, the rating downgrade of the United States reflects the expected fiscal deterioration over...
Study smarter with the SolutionInn App