Which of the Following Scenarios Could Be an Example of Increasing

question 19

Multiple Choice

Which of the following scenarios could be an example of increasing marginal utility?

• A)A father buying three game CDs for his son.
• B)A shopkeeper selling the tenth unit of hamburger.
• C)A philatelist buying an additional stamp for collection.
• D)A consumer buying an additional unit of apple.

Understand the use of cost drivers in budgeting for service operations.

Gain insights into the budgeting process for non-profit organizations, focusing on cost management.

Learn how to manage and budget for multiple measures of activity in service operations.

Understand the role and importance of administrative and operational expenses in budgeting for service and healthcare providers.

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Definitions:

Business for Profit

Organizations that operate with the primary goal of earning financial returns for their owners or shareholders.

Limited Liability Corporation

A business structure that offers its owners protection from personal liability for the debts of the company, while allowing them to enjoy the tax and operational benefits of a partnership.

Sole Proprietorship

A simple business structure where a single individual owns, manages, and is responsible for all aspects of the business, including liabilities.

Partnership

A form of business where two or more people agree to contribute resources to start and operate a business together.