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Why do consumers directly benefit from greater productivity?
Goods and services are produced faster and can be sold more cheaplyGoods and services are produced faster and can be sold more cheaply.It is easier to compare prices. Goods and services are produced faster and can be sold more cheaply.
How can one calculate the marginal social benefit of a particular economic activity?
To calculate the marginal social benefit of an economic activity, you would need to consider the additional benefit to society from producing one more unit of the activity. This can be determined by analyzing the impact on individuals and communities, such as improvements in health, education, or infrastructure. By comparing the costs and benefits of each additional unit produced, you can calculate the marginal social benefit.
How does the marginal benefit from agood change as the quantity produced of the good increase?
As the quantity produced of a good increases, the marginal benefit typically decreases due to the principle of diminishing marginal utility. Consumers derive less additional satisfaction from each additional unit consumed, leading them to value each subsequent unit less than the previous one. Consequently, the marginal benefit of producing more of the good declines as supply increases. This relationship can influence pricing and production decisions in the market.
What is the economic term that describes the increased benefit or satisfaction you will enjoy as a result of consuming one more of something?
The economic term that describes the increased benefit or satisfaction we the peopleÊwill enjoy as a result of consuming more than one of something is called as marginal benefit. It gives the extra benefit gained in the consumption of one more unit and works better than calculating the average benefit, in this case.
Why electric consumption increased?
Our standard of living continues to increase. For example, air conditioning, once reserved for the rich, is now enjoyed by most Americans. And the human population continues to increase as well.
What percentage of us electric is produced by coal?
More than 70% of US electricity is produced from coal.
Which group of countries produced more rice - India Indonesia and Bangladesh or China and Thailand?
China and Thailand
Which group of countries produced more rice -India Indonesia and Bangladesh or China and Thailand?
China and Thailand
Where does 70 percent of French electricity come from?
More than 70 percent of French electricity is produced in nuclear plants.
During the industrial revolution how did advances in technology in benefit society?
Goods were produced more efficiently.
What is a benefit of modern commercial farms?
if you're in apex, the answer is food can be produced in larger amounts for more people to eat.
What energy source produced more than 50 percent of the U.S. electricity in 2001?
Coal
Why do consumers directly benefit from greater productivity?
Goods and services are produced faster and can be sold more cheaplyGoods and services are produced faster and can be sold more cheaply.It is easier to compare prices. Goods and services are produced faster and can be sold more cheaply.
What is difference between electricity and electronics?
Electricity is like static and lightning and is produced when something as a negative charge (more -electrons than +protons) Electronics are usually devices that are powered by electricity
How did technological made during the industrial revolution benefit society?
businesses produced goods more efficiently.
How much energy is produced in china?
, China consumes use more ernergy than the US." ... the volume of energy use is different from that used by China."
Which type of scientist would most likely study how electricity could be produced more efficiently?
meteorologyA vulcanologistscienceWhich
