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What does a marginal utillity curve shows?
It shows how much utility you would get for each unit of consumption. It has a positive slope that decreases as the unit of consumption increases due to the law of diminishing returns.
Can a marginal tax rate ever be negative?
I don't think so. A marginal rate is the amount you pay on the next $ of income. As our tax brackets are progressive, and with the additional income you get no more exemptions/deductions than the previous, it would seem it would have to be positive...or at least as positive as you were before, (so if the marginal increase still means you get taxable income (from child care, or earned income credit, etc.) I guess your entire effective rate would be negative.
What is true of the marginal cost of providing a pure public good to one more consumer a. It is positive b. It is equal to zero c.It is equal to the original cost of the good?
The marginal cost of providing a pure public good to one more consumer is equal to zero. This is because public goods are non-excludable and non-rivalrous, meaning that one individual's consumption does not reduce availability for others, and providing the good to an additional consumer does not incur additional costs.
How do you calculate the marginal social benefit?
Marginal social benefit (MSB) is calculated by assessing the additional benefit to society from consuming one more unit of a good or service. It typically includes both the private benefits to consumers and any external benefits that the consumption generates for others. To quantify MSB, you can sum the individual willingness to pay for the additional unit and any positive externalities associated with it. The formula can be expressed as MSB = Private Benefit + External Benefit.
What is the importance of marginal utility in micro economics?
Marginal utility is an economic concept that determines how much of an item a consumer will buy. Positive marginal utility happens when the consumption of the additional item increases. On the other hand, negative marginal utility occurs when the consumption of additional item decreases.
What does a marginal utillity curve shows?
It shows how much utility you would get for each unit of consumption. It has a positive slope that decreases as the unit of consumption increases due to the law of diminishing returns.
Can a marginal tax rate ever be negative?
I don't think so. A marginal rate is the amount you pay on the next $ of income. As our tax brackets are progressive, and with the additional income you get no more exemptions/deductions than the previous, it would seem it would have to be positive...or at least as positive as you were before, (so if the marginal increase still means you get taxable income (from child care, or earned income credit, etc.) I guess your entire effective rate would be negative.
What is true of the marginal cost of providing a pure public good to one more consumer a. It is positive b. It is equal to zero c.It is equal to the original cost of the good?
The marginal cost of providing a pure public good to one more consumer is equal to zero. This is because public goods are non-excludable and non-rivalrous, meaning that one individual's consumption does not reduce availability for others, and providing the good to an additional consumer does not incur additional costs.
How do you calculate the marginal social benefit?
Marginal social benefit (MSB) is calculated by assessing the additional benefit to society from consuming one more unit of a good or service. It typically includes both the private benefits to consumers and any external benefits that the consumption generates for others. To quantify MSB, you can sum the individual willingness to pay for the additional unit and any positive externalities associated with it. The formula can be expressed as MSB = Private Benefit + External Benefit.
What is the importance of marginal utility in micro economics?
Marginal utility is an economic concept that determines how much of an item a consumer will buy. Positive marginal utility happens when the consumption of the additional item increases. On the other hand, negative marginal utility occurs when the consumption of additional item decreases.
In a relationship among total average and marginal products where TP is maximized?
In a relationship among total product (TP), average product (AP), and marginal product (MP), TP reaches its maximum when marginal product (MP) equals zero. At this point, any additional input does not increase total output, indicating that the production capacity has been fully utilized. Before reaching this maximum, MP is positive, contributing to increasing TP, while AP is at its highest when MP equals AP. Thus, the optimal production point occurs where MP intersects the horizontal axis.
Is it impossible for marginal profits to decline if average profits are positive?
yes it is
What is the explanation for the outcome of the Mexican Revolution?
Positive outcomes:- 1 - Increase in Production / yield. 2 - Advantage to farmers: this includes their economic situation improving, even small and marginal farmers (althou… (MORE)
If marginal utility is positive but diminishing then?
Total utility increases at a diminishing rate
Is -5 marginal revenue positive negative or zero?
A wild guess is that it is negative.
How would you react to a sales managers announcement that he or she has in place a marketing program to maximize sales?
Since Marginal cost is usually positive, you would expect the outcome of the audience to be excited. The sales should be scaled down until the marginal scales exceed the marginal profit.
A profit maximizing monopolist with a positive marginal cost of production will always?
Produce in the elastic range of the demand curve
