Category Fature

The Total and Marginal Utility in Economics with Business Study Notes


Between 1850 and 1880, economists began to become more and more aware that, in order to construct an adequate alternative to the theory of labor value, they had to solve the proposition that it is not the total utility of a good that determines their exchange value, but rather the utility of the last unit consumed. For example, water is very useful, it is essential for life. But, since there is relatively a lot of water, the consumption of one more glass has a relatively small value for people. Paradox of use value. During the 1870s several economists

The Marshall synthesis of supply and demand

The clearest definition Total and Marginal Utility as per these marginal principles was presented by the English economist Alfred Marshall (1842-1924) in his Principles of Economics, Published in 1890. Marshall demonstrated that supply and demand acted simultaneously to determine the price. As Marshall pointed out, just as it is not possible to specify which of the two edges of a short scissor, neither can it be said that supply, or demand, determines the price alone. This analysis is illustrated in the famous Marshall cross shown in Figure 1.1. In the graph, the quantity of a good acquired in a period is shown on the horizontal axis and the price appears on the vertical axis. Represents the quantity demanded of the good in each period, at every possible price. The DD curve


The curve slopes downward to reflect the marginality principle that, as increases the amount, people will want to pay less and less for the last purchased unit. It is the value of this last unit that sets the price of all units purchased. The SS curve Shows how (marginal) production costs increase as more production occurs. This reflects the increasing cost of producing one more unit as increases total production. In other words, the positive slope of the SS curve reflects increasing marginal costs, as does the negative slope of the. It is a point of balance: Both buyers and sellers are happy with the quantity exchanged and the price at which it is exchanged. If one of the curves moves, the equilibrium point will shift to another point. Thus, price and quantity are determined simultaneously by the relationship between supplies and demand DD curve reflects a decreasing marginal value. The two curves are cut in P *, Q *

Financing Costs

The financing costs should not be included in calculations of cash flows relevant in a capital budget. This statement may seem wrong or, in the best cases, strange. If an investment is to be made, are not additional financial resources required to do so? Definitely yes. So, do not these resources have a cost? Are they free? Of course, financial (or any other) resources have a cost. Regardless of whether you use equity, debt or a combination of both to finance the disbursements that need to be made to carry out the project, this money has a cost. The company has to pay investors – shareholders or creditors – for the use of its resources through dividends and interest.

However, the cost of financial resources is not part of the relevant cash flows. Rather, it is used within the valuation methods that will be studied in a later note to compare the cash flows expected to generate the project against the disbursements required to carry it out. The mix of debt or equity is a variable that belongs to the company’s financing policy which determines how cash flows will be distributed between creditors and owners. This distribution policy does not have to affect the cash flows of the project itself. For more info about business education, please visit Business Study Notes. Business Study Notes provides free notes for all the students of Mba, Bba, and Dba.

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An Essential Buying Guide to Smart Locks


The Internet of Things is today more than just a concept. It is a reality, a part of everyday life. It is estimated that there are going to be 50 billion interconnected devices or “smart devices by 2020.

“Smart” locks are among the most common Internet of Things (IoT) devices. Smart locks are connected locks or locks that you can control from your smartphone. You can, for example, lock or unlock the locks from your smartphone or find out if they are locked or not, at any point of time through an app on your smartphone.

 So, you have considered buying smart locks. How to know which is the right type of smart lock for your home given that there are so many options available in the market? Here are some of the factors to be considered when choosing smart locks.

  1. Security

Obviously, security should be your most important consideration. What is the level of security provided by the smart lock? Unless it is built solidly and is secure enough, there is no point in purchasing the lock, regardless of its other “smart” features. You should choose ANSI Grade 1 deadbolts only, when buying a smart lock, at least to secure your front and back entrances.

  1. Battery Life

Unlike traditional locks, smart locks run on batteries, so you should choose smart locks with excellent battery life. The last thing you want is for the power to be down just when you are using the smart lock. You should choose energy efficient smart locks that are capable of performing at full capacity even at low battery power and conserve energy effectively.

  1. Connectivity

Connectivity is another important consideration. How effectively does your smart lock communicate with other devices such as your smartphone? Does it work as intended, and lock or unlock with every command sent through the smartphone? Remote connectivity is what makes the lock “smart” – it ensures that you know about the current state of the lock at all times.


  1. App

Most smart locks come with an app and can be controlled by the app through your smartphone. These apps are generally free to download. Some smart lock apps are designed very well and it is a pleasure to use them; others not so much. It is important to check the features of the smart lock app before making the purchase. It should be easy to use and operate.

  1. Electronic Key

 Many smart locks can be operated with electronic keys. The electronic key feature allows you to generate temporary keys, so that you can authorize an individual to access the lock for a short period of time. So you can, for example, give temporary access to the garage door repair specialist who arrives at your home when you are away. Electronic keys are a very useful feature indeed.

  1. Backup Power

Many smart locks come with backup power. This is important as you want the smart lock to operate at all points of time, even when there is a power shutdown in the area. The last thing you want is to be locked out of your home because the battery within the smart lock is dead. That’s why you should choose smart locks that come with a backup power source.

 These are just some of the considerations to be kept in mind when choosing a smart lock. Need help choosing a smart lock? No problem! We would love to help. If you live in Georgetown Texas and surrounding areas then come and visit our website.

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