This topic contains a solution. Click here to go to the answer

Author Question: When the incremental satisfaction derived from an additional unit of a good or service decreases as ... (Read 143 times)

gonzo233

  • Hero Member
  • *****
  • Posts: 557
When the incremental satisfaction derived from an additional unit of a good or service decreases as more is consumed, it is known as:
 a. consumer equilibrium.
 b. marginal benefit.
 c. diminishing marginal utility.
  d. decreasing opportunity cost.

Question 2

The marginal revenue product (MRP) is the:
 a. value of the additional output that an extra unit of a resource can produce.
  b. cost of hiring an additional unit of a resource.
  c. extra cost of producing an additional unit of output.
  d. increase in total output when an additional unit of an input is hired.
  e. change in total revenue when an additional unit of a good is sold.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

katkat_flores

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

c

Answer to Question 2

a




gonzo233

  • Member
  • Posts: 557
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


miss.ashley

  • Member
  • Posts: 371
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

For a complete list of videos, visit our video library