Question

b) Ahousehold
increases
units when its price falls by 10 percent. What is the price el
it elastic or inelastic?
c) Define marginal cost. With the help of an example
cost can be obtained from total cost
d) Explain the relationship between Total Product and
e) Define marginal utility
f Draw a perfectly elastic demand curve?
8 Define variable cost Give two examples.
h) In which stage the producer will produce? Explain.
2.2. Long answer questions:-​

Answer 1

Answer:

sorry i don't know about this

Explanation:

Answer 2

Answer:

c- marginal cost is the change in total cost that arises when the quantity produces incremented, the cost of producing additional quantity. For example, it may cost $10 to make 10 cups of Coffee. To make another would cost $0.80. Therefore, that is the marginal cost – the additional cost to produce one extra unit of output. ... Fixed costs can also contribute.

e- Marginal Utility is the enjoyment a consumer gains from each additional unit they consume.