The best example of a marginal change is A change in anybody's income for a long time A change that happened a year ago and can happen this year again A change that is large and permanent A small incremental or decremental change from one step to the next A change that happens multiple times
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A change in anybody's income for a long time
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A change that happened a year ago and can happen this year again
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A change that is large and permanent
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A small incremental or decremental change from one step to the next
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A change that happens multiple times
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Step by step
Solved in 2 steps
- Explain any two of the problems in measuring the cost of living.answer the following questions using economic concepts: Explain the law of diminidhing returns whith a relevant example“In the production process, it may be expected that a progressive increase in the input results in a similar increase in the output”. Comment
- What is meant by the term cost of living? Define and explain it.The Chief Executive Officer of Dar Al Herfya (World of Handicrafts) spends her days contacting potential clients and setting up meetings in which she explains the salient features of the hand-made products she sells and their role in sustaining the rural economy in Oman. Her hectic schedule has not diminished her enthusiasm a bit. “This has been my routine for the last three years. You have to work hard if you have a mission,” says Zuwaina of her pet project. In 2012, Zuwaina relinquished her top corporate job, and all the perks that went with it, to launch her own company with the goal of promoting traditional Omani handicraft. “I worked with Omran as director of branding, and Omantel as senior manager of branding and communication. During my stints, I observed that corporate gifts never reflected Oman’s cultural identity. It prompted me to do an independent market research to learn about the alternatives available. It culminated in the launch of Dar Al Herfya,”…The Chief Executive Officer of Dar Al Herfya (World of Handicrafts) spends her days contacting potential clients and setting up meetings in which she explains the salient features of the hand-made products she sells and their role in sustaining the rural economy in Oman. Her hectic schedule has not diminished her enthusiasm a bit. “This has been my routine for the last three years. You have to work hard if you have a mission,” says Zuwaina of her pet project. In 2012, Zuwaina relinquished her top corporate job, and all the perks that went with it, to launch her own company with the goal of promoting traditional Omani handicraft. “I worked with Omran as director of branding, and Omantel as senior manager of branding and communication. During my stints, I observed that corporate gifts never reflected Oman’s cultural identity. It prompted me to do an independent market research to learn about the alternatives available. It culminated in the launch of Dar Al Herfya,”…
- An increase in productivity of a variable input will do which of the following at the current level of resources? A. Change marginal product B. Change average product C. Change total product D. Change marginal, average, and total productHello! Can someone help me with my homework? Can you please explain to me the solution step-by-step on how you computed for the answer? Thank you so much, I appreciate your help!Which of the following is true A. Longer processes of production are more productive than shorter processes of production B. Elderly people generally have a lower time preference than middle-aged adults C. Unlike their preferences for different goods which are continually changing, people's time preferences usually remain fairly constant through out their lives D. As an individual's time preference falls, he saves a greater proportion of his income
