This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Water is very inexpensive. Thus the marginal and total utility of water is small. Analyze the ... (Read 39 times)

Sportsfan2111

  • Hero Member
  • *****
  • Posts: 585
on: Jun 29, 2018
Water is very inexpensive. Thus the marginal and total utility of water is small. Analyze the previous statements.
 
  What will be an ideal response?

Question 2

Globalization means that firms recruit top talent from the global talent pool. Globalization means that the payoffs won by the contest winners ________.
 
  A) increase in size
  B) do not change in size
  C) might increase, decrease, or not change depending on whether the demand for contests changes by more than, less than, or the same amount as the supply of contests.
  D) decrease in size


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nothere

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

Parts of the statement are true but a key part is false. Water is, indeed, very inexpensive and so its marginal utility is small. Because water is so inexpensive, the quantity people buy is large, which is why its marginal utility is small. However, water is essential to life. Hence the total utility of water is immense.

Answer to Question 2

A


Sportsfan2111

  • Member
  • Posts: 585
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

adammoses97

  • Member
  • Posts: 337
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Bayliss and Starling discovered the mechanism by which the small intestine and pancreas work togethe Bayliss and Starling discovered the mechanism by which the small intestine and pancreas work togethe
Complementary fit between a macromolecule and a small molecule Complementary fit between a macromolecule and a small molecule
A complete cranium of Au. Afarensis from Hadar, Ethiopia, shows a prognathic face and a small brainc A complete cranium of Au. Afarensis from Hadar, Ethiopia, shows a prognathic face and a small brainc
Municipal Water Treatment Plant Municipal Water Treatment Plant
Preserve Your Vitamins! Cook your vegetables in a small amount of water Preserve Your Vitamins! Cook your vegetables in a small amount of water
What is the molarity of chloride ions when 10.4 grams of MgCl2 is dissolved in 753 mL of water? What is the molarity of chloride ions when 10.4 grams of MgCl2 is dissolved in 753 mL of water?
Video: Gastrin (protein digestion)

For a complete list of videos, visit our video library