Homework Answers
True
When we talked about the marginal anaysis then it is the additional benefit that is generated by increasing the additional cost
It is generally used by many companies to maximize the profit with their limited cost
It is some time also called how much toproduce in decision making
For example let's say a person will require how much beer bottles for getting is higher satisfaction then marginal utility will be the additional utility that is derived from each additional beer bottle consumed by the drinker
So it helps in finding that how much beer bottles one has to consume
In the similar way firms also use this technique
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Marginal analysis should not be used for "how-much" decisions. True False
Ch. 4: Extent (how much) decisions a. define and calculate average costs? b. define marginal cost...
Ch. 4: Extent (how much) decisions a. define and calculate average costs? b. define marginal cost and marginal revenue? c. What is a marginal curve’s relationship to its total curve? d. Regarding marginal analysis: e. why is average costs are not appropriate in making extent decisions? f. Explain what is defined by MR=MC? g. Explain if MR>MC, and why? h. Explain if MR<MC, and why? Testbook use for this assignment is ; Managerial Economics Froeb Chapters
In a decision tree, caution should be used in the analysis because: A) later stage decisions...
In a decision tree, caution should be used in the analysis because: A) later stage decisions are probably riskier than earlier stages. B) negative NPVs should never occur. C) all real options must be included in the basic tree. D) failure and its probability should be ignored because they are irrelevant. E) early stage decisions are probably riskier than later stages.
True or False: It is possible to consume so much of a good that it turns...
True or False: It is possible to consume so much of a good that it turns into a bad, and the marginal utility becomes negative. 'False True
Explain how an individual's age and income level should influence decisions about how much to invest...
Explain how an individual's age and income level should influence decisions about how much to invest and decisions about risk allocation among different types of investments.
True/False Answer all questions. Write out the word True or False in the space provided. (...
True/False Answer all questions. Write out the word True or False in the space provided. ( 2 Pts. Ea.) 1. Standard Costs serve as a device for measuring efficiency. 2. The Standard cost is how much a product should cost to manufacture. 3. Standard costs should always be revised when they differ from actual costs. 4. Changes in technology, machinery, or production methods may make past cost data irrelevant when setting standards. 5. Differential revenue is the amount of increase...
The best decisions are made in groups that are wholly task-oriented. True or False? Explain For...
The best decisions are made in groups that are wholly task-oriented. True or False? Explain For whatever reason, group functionality is determined by how well they can solve a problem. True or False? Explain Group functionality is defined by the quality of the decision made and the time taken to reach consensus. True or False? Explain
True or False: We will operate if marginal costs exceed marginal benefits.
True or False: We will operate if marginal costs exceed marginal benefits.
Classify each of the statements as true or false True False Answer Bank Marginal utility is...
Classify each of the statements as true or false True False Answer Bank Marginal utility is always positive. Numerical utility values are relatively easy to calculate. Diminishing marginal utility means that consumption of an additional unit decreases utility. Marginal utility is the extra satisfaction experienced by one additional unit of consumption Marginal utility is always negative. Utility is a measure of the satisfaction people receive from their choices If you eat a slice of pizza that gives you food poisoning....
True or False: Rational managers will always make decisions that are in the best interest of...
True or False: Rational managers will always make decisions that are in the best interest of the organization employing them. True or False: It is important to not consider an organization's compensation and reward system when designing its performance evaluation system.
Administrative law consists of the rules, orders, and decisions of the president. True False
Administrative law consists of the rules, orders, and decisions of the president. True False
True or False: It is possible to consume so much of a good that it turns into a bad, and the marginal utility becomes negative. 'False True
True/False Answer all questions. Write out the word True or False in the space provided. ( 2 Pts. Ea.) 1. Standard Costs serve as a device for measuring efficiency. 2. The Standard cost is how much a product should cost to manufacture. 3. Standard costs should always be revised when they differ from actual costs. 4. Changes in technology, machinery, or production methods may make past cost data irrelevant when setting standards. 5. Differential revenue is the amount of increase...
Classify each of the statements as true or false True False Answer Bank Marginal utility is always positive. Numerical utility values are relatively easy to calculate. Diminishing marginal utility means that consumption of an additional unit decreases utility. Marginal utility is the extra satisfaction experienced by one additional unit of consumption Marginal utility is always negative. Utility is a measure of the satisfaction people receive from their choices If you eat a slice of pizza that gives you food poisoning....
Administrative law consists of the rules, orders, and decisions of the president. True False
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