Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Marginal Benefit. List and explain at least one example where you actually have used or will use the marginal principle in your life (personal or professional). Here is an example of how I used this principle. I considered pursuing my doctorate degree. Having a doctorate would increase my salary here at Ohlone College. However, obtaining the doctorate has costs associated with it. When I looked at the marginal cost of getting one more degree with the marginal benefit of one more degree, I calculated that the marginal benefit was higher than the marginal cost, so I chose to go on for my doctorate.
NOTE: Do not use the example of pursuing a college degree, since I just covered that one. Come up with a different example.
IMPORTANT: The marginal principle applies to purchasing MORE of something you already have. In my example, I already have two college degrees. The decision is about whether to obtain another degree. Do not give an example of deciding whether or not to buy something you do not have. For example, deciding to buy a car if you do not already have one is not an example of marginal cost. That is an example of opportunity cost.
Suppose the demand for a Czech novel translated into English is perfectly inelastic. Assume the initial price of the translated novel is ?$21.00 and the quantity demanded is _______ copies per year. If the price of the translated novel increases by ?..
Why do many prospective voters choose to watch sports on television rather than watching the news or political roundtables? In your answer, be sure to mention the role played by rational ignorance.
How are production and income related? Production also generates income in an economy. To put it another way, how is your income determine in a free market economy?
PoolVac, Inc. manufactures and sells a single product called the “Sting Ray,” which is a patent-protected automatic cleaning device for swimming pools. PoolVac’s Sting Ray faces its closest competitor, Howard Industries, also selling a competing pool..
What is the market equilibrium cost. What is the equilibrium number of firms in the market.
For a conservation course- Provide an example of green accounting or environmental economics in action (e.g., Bacuit Bay, Philippines) Alternatives to current economic paradigm-And, explain the relationship between international competitiveness and ..
A man went to his bank and borrowed $750. He agreed to repay the sum at the end of three years, together with the interest at 12% per year, compounded annually. How much will he owe the bank at the end of three years?
Show where or not above production function exhibits diminishing marginal productivity of labour. Determine nature of Return to Scale as exhibited by above production function.
"Mercantalism recommends that a country should limit its exports, so that more of the otherwise-exportable products are instead available for local consumption." Do you agree or disagree with this characterization of mercantilism's message? Explain.
prisoners dilemma is a game that has been and continues to be studied by people from a variety of disciplines from
If a major sports star were to move into your neighbourhood, what would you expect to happen to the neighbourhood's "average" income?
Does the equal marginal principle apply to personal decisions when you have limited income and time? How do you allocate a limited amount of study time when faced with three exams on the same day?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd