Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Discover solutions to your questions from experienced professionals across multiple fields on our comprehensive Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

consider the term marginal utility. which word is the best synonym for marginal?

Sagot :

Marginal utility is the slight increase in utility that results from consuming an additional unit.

What phrase describes the notion that a change in price corresponds to a change in quantity demanded?

The degree to which a change in price results in a change in the quantity desired is known as demand elasticity. When a change in price results in a disproportionately bigger change in the quantity required, demand is elastic. When a change in price results in a relatively modest change in the quantity sought, the demand is said to be inelastic.

What is the impact of marginal utility on demand?

The marginal utility of a good, which decreases with each additional unit of consumption in accordance with the law of declining marginal utility, determines the price a customer is prepared to pay for it. As a result, a regular good's price decreases as usage increases.

To know more about marginal utility visit:-

https://brainly.com/question/15561406

#SPJ4

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.