Think of three example from your own experience, and explain how they demonstrate the concept of diminishing marginal utility.

Ancho corp. is an automobile company whose core competency lies in manufacturing petrol- and diesel- based cars. the company realizes that more of its potential customers are switching to electric cars. the r& d department of the company acquires competencies in developing electric cars and launches its first hybrid car, which uses both gas and electricity. in this scenario, ancho is primarilya. leveraging new core competencies to improve current market position. b. redeploying existing core competencies to compete in future markets. c. unlearning existing core competencies to create and compete in markets of the future. d. building new core competencies to protect and extend current market position

Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.

Consider a consumer who is contemplating a new automobile purchase. she has narrowed her decision down to two brands, honda accord and ford taurus. she has identified gas mileage, price, warranty, and styling to be important attributes to consider in her decision