One slice of pizza costs $4, but an entire
pizza with 8 slices does not cost $32. Explain why you think this
is the case, making reference to the principle of marginal utility.

Answers

Answer 1

Answer:

If a slice of pizza costs $4, an entire pizza with 8 slices may cost $30 due to the law of diminishing marginal utility.

Explanation:

The marginal utility of goods and services refers to the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.

In Economics, The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.

For example, buying a pizza and eating a slice may satisfy your cravings but eating another slice of pizza wouldn't give you as much satisfaction as the first due to diminishing marginal utility.

Hence, the pizza seller would place a discount on the price of a complete pack of pizza containing eight (8) slices so as to entice his or her customers while offering them value for money being paid.

Therefore, if a slice of pizza costs $4, an entire pizza with 8 slices may cost $30 due to the law of diminishing marginal utility.


Related Questions

A person who buys stocks to make a little extra money consistently each year would be said to be doing so for __________________.

Dividends

Mutual benefit

Investment

Speculation

Answers

Answer:

Investment

Explanation:

To invest is to allocate money in the expectation of some benefit/return in the future.

Should I CHoose business or sciences

Answers

Answer:

business would probably have more future opportunities but honestly whichever one you think you might actually wanna do in the future

I say business! So many opportunities

One of the roles of government in a free market system is to: a.Market ideas freely b.Finance companies c.Foster competition d.Warn companies of impending dangers

Answers

Answer: foster competition

Explanation:

A free market system is an economic system whereby the individuals and the firms control the market and resources are allocated based on the demand and the supply of the goods and services.

One of the roles of government in a free market system is to Foster competition. The government makes policies which helps to prevent certain producers from having too much power and enable there is a level playing ground for everyone.

What is an advertising mix?
a. choosing the right demographic to be your target customer
b. creating an advertising budget and a subsequent plan
c. choosing multiple advertising media to deliver your message to the target customer
d. focusing on conveying the benefits of the product before discussing its features

Answers

Answer:

C

Explanation:

please help!!!!!!!!!!!

Answers

Answer:

(1) Customers rating a new car model on social media - External info

(2) Company info

(3) External info

(4) Company info

Explanation: Company information is basically explaining information abt the product or what it is they're selling. External information is the feedback or in other terms "review" on a companies item. Hope this helped <3

(The #'s are the examples in the boxes starting from left to right btw)

Vinnie (our friend in the video) had a lot of credit cards, and he did have fun with them! Then he nearly went broke. What was the main thing Vinnie did wrong?
A. he paid off his balance every month in full.
B. he always recorded his payments.
C. he used one credit card to pay other credit card bills.
D. he always paid on time.

Answers

C.
This is because he never really paid his bills but instead delayed

He used one credit card to pay other credit card bills. Thus, option 'C' is the correct option.

What is a credit card?

A credit card is a type of payment card that is given to customers (cardholders) to allow them to pay a merchant for products and services depending on the amount of debt they have accumulated (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges).

The card issuer (often a bank or credit union) establishes a revolving account and provides the cardholder with a line of credit from which they can borrow money to pay for purchases or receive a cash advance. Consumer credit cards and corporate credit cards are the two types of credit cards. The majority of cards are made of plastic. However, some are made of metal (stainless steel, gold, palladium, titanium), while some include gemstones embedded in the metal.

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signed a contract to work for Acme Global. The contract described the terms of her employment, including her pay and benefits. Angelica signed a(n) ________________ contract.

Answers

Answer:

Express.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.

An express contract can be defined as a type of contract in which the terms binding on the two parties are either explicitly stated in writing or orally, or a combination of both.

In this scenario, Angelica signed a contract to work for Acme Global. The contract described the terms of her employment, including her pay and benefits. Thus, Angelica signed an express contract because the exchange of promise is stated explicitly in writing and it's a legally binding agreement on the two parties (employer and the employee).

Jocasta owns an apartment complex that she purchased 6 years ago for $750,000. Jocasta has made $50,000 of capital improvements on the complex, and depreciation claimed on the building to date is $128,700

Answers

Answer:

$671,300

Explanation:

Calculation to determine Jocasta's adjusted basis in the building.

Adjusted basis =[$750,000-($128,700 - $50,000)]

Adjusted basis=$750,000- $78,700

Adjusted basis = $671,300

Therefore Jocasta's adjusted basis in the building will be $671,300

Select all that apply.

Which of the following questions would you expect to see on an interest inventory?


Would you enjoy playing soccer?

Do you enjoy music?

Do you like science experiments?

Would you enjoy reading a fashion magazine?

Answers

Probably “would you enjoy reading a fashion magazine”

i think "do you enjoy music"

Steve has worked 36 hours this week at $10/hour. On his last shift of the week he clocks in at 8:05 am and takes his lunch at 11:53. He comes back from lunch at 12:35 and clocks out at 4:56. How much will Steve's Gross Pay be?

Answers

Answer:

$441.5

Explanation:

Hours already worked = 36 hours

Rate = $10 / day

Number of hours worked on last shift :

8:05 - 11:53 = 3 hours 48 minutes

12:35 - 4:56 = about 4 hours 21 minutes

Total hours (3 hours 48) + (4 hours 21 minutes). = 8 hours 9 minutes

Hence, total hours worked that week :

36 hours + 8hours 9 minutes

44 hours 9 minutes

Rate = $10 / hour

(44*$10) + (9/60 * $10)

$440 + $1.5

Gross pay = $441.5

what is the most money you get in a job?

Answers

Answer:

it depends on the job but it is a Anesthesiologists

Answer:

I think being a rapper or being in the  NBA OR NFL OR MLB

Explanation:

The _____ motive encourages entrepreneurs to start businesses, expand existing one, create new products or improve existing ones, and/or improve production processes to use resources efficiently.
1.)profit
2.)price
3.)none of the above

Answers

It is the 1) profit motive that encourages entrepreneurs to start businesses, expand old businesses, create new or improve products and production processes for efficient use of resources.

What is the profit motive?

The profit motive describes the economic incentive that drives the activities and decisions of entrepreneurs.

Thus, it is not price that motivates entrepreneurs but profit.

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Question 2 of 5
The amount of money a person has to pay regularly to avoid late fees is the
A. minimum monthly payment
B. credit limit
C. interest rate
D. credit score

Answers

Answer:

A

Explanation:

to ensure that you pay at least the minimum amount by the due date.

A. Because it’s the only one that makes sense

creating a budget is about your wishes and hopes for what you want your income to be.
True
False​

Answers

Answer:

False.

Explanation:

Creating a budget is not about your wishes and hopes for what you want your income to be, but must be done by having a realistic perception of the income and expenses that each person has from month to month. In this way, you can project responsibly, avoiding incurring debts or other negative consequences.

Complete this statement. Food service gloves

Answers

Answer:

Should be put on after washing hands with soap and water

Food service gloves are an essential tool in the food industry, providing a critical barrier between food handlers and the products they prepare and serve.

These gloves are typically made from materials like latex, nitrile or vinyl that ensuring a hygienic and safe environment for food handling. The use of gloves helps prevent cross-contamination, safeguarding against the transfer of harmful bacteria and viruses.

The food service gloves offer protection for employees, reducing the risk of skin contact with potential allergens or irritants. Proper glove usage, regular changes and hand hygiene practices are crucial to maintaining food safety standards and ensuring customer well-being.

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Active listening is a skill that can be practiced and learned.

True
False

Answers

Answer:

true

Explanation:

You have to concentrate has it requires both physical and mental attention. So that one could be able to absorb verbally given information quickly and accurately.

The answer is true my friend

What is the purpose of Lincoln Douglas?

Tysm have a great day! :)

Answers

Until the 17th Constitutional Amendment of 1913, senators were elected by state legislatures, so Lincoln and Douglas were trying to win control of the Illinois General Assembly. The debates were the original media event: their goal was to generate publicity.

Define local technology .

Answers

a source of internet, or WIFI that's close to you. Local= near Tech= phones, computers, etc.

A single team member can affect the morale of the whole team.

True
False

Answers

I think it’s True. I hope it helps.

easy career class question..:)

Answers

The best answer is probably data

Answer: people

Hope this helps

You consider that when organizing as a corporation, you will pay taxes at the corporate level (21% tax rate) and when dividends are distributed to owners (15% tax rate). Instead, you organize as a partnership and pay taxes only at your personal rate (24%). Approximately, how much do you save? (Round to the nearest percent.)

Answers

Answer:

9%

Explanation:

Calculation for how much do you save

Using this formula

Percentage saved=Personal rate -Dividend rate

Let plug in the formula

Percentage saved=24%-15%

Percentage saved=9%

Therefore how much do you save is 9%

WAYS IN WHICH THE YOUTH CAN MANAGE STRESS

Answers

Answer:

Sleep well. ...

Exercise. ...

Talk it out. ...

Make time for fun — and quiet. ...

Get outside. ...

Write about it. ...

Learn mindfulness.

What is suggestive selling? Have you experienced an example of this? If so, describe the experience. Why do restaurants use suggestive selling?

Answers

Answer:

Explanation:

Suggestive selling is when someone recommends a better version of the product which you are purchasing or even recommends another totally different product that may suit your individual needs better. Almost everyone has experienced this in some capacity before. For example, any time you go to a fast-food chain they always ask if you would like to increase the size of your order (super-size) for a small additional fee. This is suggestive up-selling, and companies do this because they make additional profit from these items that they are suggesting.

Libel is a defamatory or hurtful remark told about someone to others, and slander is when this remark or comment is broadcast over the TV, radio, printed in a publication, or forwarded to others on the Internet.

Answers

Answer:

This is false.

Explanation:

The statement in the question interchange the meanings of the two terms. The correct definitions are therefore given as follows:

Libel is can be described as a written or published false statement about another person that damages their reputation unjustly.

Slander refers a spoken false statement about another person that damages their reputation unjustly.

Based on the definitions above, the statement in the question can be correctly rewritten as follows:

Slander is a defamatory or hurtful remark told about someone to others, and libel is when this remark or comment is broadcast over the TV, radio, printed in a publication, or forwarded to others on the Internet.

Answer:

FALSE

Explanation:

i got it right

Student aid is based on either financial need or _____ need.

merit-based
academic
social
emotional

Answers

Answer:

merit-based

Explanation:

Financial aid takes many forms, and most often does not need to be paid back.. merit based need is based on academic excellence

Jasper makes a $25,000, 90-day, 7 % cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.)
A) Debit Cash for $25,000; credit Notes Receivable $25,000.
B) Debit Cash $25,437.50, credit Interest Revenue $437.50; credit Notes Receivable $25,000.
C) Debit Cash $25,437.50; credit Notes Receivable for $25,437.50.
D) Debit Notes Payable $25,000; Debit Interest Expense $1,750; credit Cash $26,750.
E) Debit Cash $26,750; credit Interest Revenue $1,750, credit Notes Receivable $25,000.

Answers

Answer:

B) Debit Cash $25,437.50; credit Interest Revenue $437.50; credit Notes Receivable $25,000.

Explanation:

Based on the information given Jasper's appropriate journal entry to record the collection of the note and interest at maturity should be:

Debit Cash $25,437.50

($25,000+$437.50)

Credit Interest Revenue $437.50

(7%*25,000*90 days/360 days a year =$437.50)

Credit Notes Receivable $25,000

(Being to record the collection of the note and interest at maturity)

HELP PLEASE!!!!!!!!!!!!!!!!!

Answers

Answer:

Supply Curve will shift right. Indicates increase in supply.

Explanation:

There will be an increase in supply as a result of this new battery and this would cause the supply curve to shift right.

This increase would come due to an anticipated increase in demand for electric cars. If the cars are able to go for longer, more people would demand them and so to capitalize on this, more producers will enter the market to satisfy this anticipated design thereby increasing supply.

Select the correct answer.
Jessica completed a four-year degree program in Finance and Accounting. She hasn’t yet gained any work experience in this field. However, she’s joined a professional organization. She hopes to get an entry-level job in an audit firm. How can the professional organization help her in her quest?
A. she can get discounts in her membership dues
B. she can attend lecture sessions by experts in her field
C. she can get updates on new legislation
D. she can register her name in an online list that prospective employers view
E. she can now work as a trainee with an expert

Answers

Answer: E. she can now work as a trainee with an expert

Explanation:

Since Jessica hopes to get an entry level job in an audit firm, the professional organization will help her in her quest as she can now work as a trainee with an expert.

By joining the professional organization, she'll get the work experience that's needed when she finally get the role on the audit firm. She would have learned from a professional who's experienced and this will be vital in her getting into the workforce.

What kind of businesses are motivated to earn a profit

O Public

O Government

O Private

O Nonprofit

Answers

Answer:

government is the corret answer

Most business are established for the purpose of making profits that serve their customers by selling a product or service. Private business are motivated to earn a profit. Thus, the correct option is C). Private.

What is the difference between profit and non-profit Organisation?

For-profit organization are those organization that operates with the goal of making money.  Most businesses are based on the purpose of earning for-profits that serve the customers by selling the product or service.

Not-for profit organization refers to those organizations that does not operate for profits.The major purpose of the non-profit organization is to provide the service or benefit to the community with no intention of earning a profit.

The major sources of funding for the non-profit organization are primarily funded through donations, fundraisers etc. and for the profit organizations are the sale of goods and services.

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What percentage of employees in the marketing industry have been victims of discrimination?

A. 15%

B. 30%

C. 45%

D. 60%

Answers

Answer:

Answer is B. 30%

Explanation:

The percentage of employees in the marketing industry have been victims of discrimination is. 30%

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Plz I need this question quick! I don't understand it.Find the area of the figure. Please Help!! I need it :) Solve the right triangle below. Round all your answers to the nearest tenth. Measure of angle Z = ______ HELP DUE IN 60 MINS! 21. What should go in Reason 1?22. What should go in Reason 2?23. What should go in Reason 3? These are the choices for the 3 reasons: Given, Alternate Interior Angles Theorem, AA Postulate, SAS Postulate, Reflexive Property of Congruence, SSS Postulate, Vertical Angles Theorem, Substitution Property. Find the area of both of these trapeziods using the formula (b1 + b2) h 2. Calculate the difference in areas of the two trapeziods. Auto Shoppe is considering the purchase of a new engine computer code reader for $30,000. Auto Shoppe can charge $50 for the service of reading the codes from a single car engine, while the actual cost of the reading would only be $10 per car engine. Suppose that the manager of Auto Shoppe is concerned about this purchase, and has stated that if Auto Shoppe were to buy the new engine computer code reader, "..the machine needs to pay for itself by the time we use it to read the codes of 200 car engines." The manager says this is because, "those sorts of engine computer code readers go out of date very quickly, so if we dont get our money back soon, we will probably just wind up replacing the machine before it ever breaks even." What would Auto Shoppe need to charge for the service of reading each car engine, to just break-even when it reads the codes from 200 car engines? Before writing an analytical essay, what must you create first?a concluding statementquoted textual evidencea thesis statementan introductory paragraph The poem is Jabberwocky on commonlit. Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is put into a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of 8 private colleges in the United States revealed the following endowments (in millions of dollars): 60.2, 47.0, 235.1, 490.0, 122.6, 177.5, 95.4, and 220.0. What value will be used as the point estimate for the mean endowment of all private colleges in the United States? I WILL GIVE OUT BRAINELIST Quadratic functions g(x) and h(x) are graphed on the same coordinate grid. The vertex of the graph of h(x) is 12 units above the vertex of the graph of g(x) . Which pair of functions could have been used to create the graphs of g(x) and h(x)?h(x)=(x+12)2 and g(x)=x2h(x)=x212 and g(x)=x2h(x)=x2+12 and g(x)=x2h(x)=(x12)2 and g(x)=x2 define the term basic services please help me out this is urgent! please answer this correctly ill brainleist you What kinds of dishes would be best cooked in a Crock-Pot? Why? 4. Jill math score on her test last year 7th grade was 650. Her math teacher told her that her test level went up by 2586. What was Jill's test score level in 6 grade? answer PLS HELP!!! WILL AWARD BRAINLIEST! Rewrite this equation without using absolute value. A 1,250 kg car is moving due to 6,500 N engine force. If the kinetic friction coefficient between the car and the road is 0.32, what is the car's acceleration?A) 32m/sB) 200m/sC) 50m/sD) 2m/sAnswer and I will give you brainiliest Which particles make up most of the mass of an atom? Which is NOT an environmental factor?climatemovementfood supply . For what value of x do the expressions 2x +2 and 3x 6 have the same value? What does Brutus claim it is cowardly to do?