Match each term with the correct definition. the next-best thing that must be forgone in order to produce one more unit of a given product. the pleasure, happiness, or satisfaction obtained from consuming a good or service. the social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity. making choices based on comparing marginal benefits with marginal costs.
a. economics
b. utility
c. opportunity cost
d. marginal analysis
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Match each term with the correct definition. the next-best thing that must be forgone in order to produce one more unit of a given product. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The central space of a basilica-plan church is known as the:
Answers (1)
Interest on a note can be calculated without knowledge of the A. fair value of the noteB. rate of interestC. notes durationD. principal amount
Answers (1)
A benchmark index has three stocks priced at $23, $43, and $56. The number of outstanding shares for each is 350,000 shares, 405,000 shares, and 553,000 shares, respectively.
Answers (1)
A company's flexible budget for 12,000 units of production showed sales, $48,000; variable costs. $18,000; and fixed costs, $16,000. The variable costs expected if the company produces and sells 16,000 units is: 48,000 64,000 40,000 24,000 18,000
Answers (1)
A severe freeze has once again damaged the Florida orange crop. The impact on the market for orange juice will be a leftward shift of Use letters in alphabetical order to select options A both the supply and demand curves.
Answers (1)
New Questions in Business
Which job title would be given to someone responsible for supervising production in a manufacturing setting?
Answers (1)
If a management team wishes to boost the company's stock price, then it should consider actions to
Answers (1)
On March 15, Year 1, Kathleen Corp. adopted a plan to accumulate $1,000,000 by September 1, Year 5. Kathleen plans to make 4 equal annual deposits to a fund that will earn interest at 10% compounded annually.
Answers (1)
A natural monopoly's preemption of entry by other firms by exploiting its economies of scale is an example of
Answers (2)
The best way for a franchisee and franchisor to evaluate each other is Question options: for the potential franchisee to go to a sales presentation. for the potential franchisee to spend time working in a franchise location.
Answers (1)