please help according to picture question and comments posted at the right by me to you Question

please help according to picture question and comments posted at the right by me to you

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Question 1 : Can you briefly explain the concepts of Marginal Benefit, Marginal Cost, and Opportunity Cost in simple terms?" Marginal Benefit : Imagine yourself enjoying a delicious cupcake from your favorite bakery. The extra happiness you feel with each bite is what we call your Marginal Benefit. This refers to the additional satisfaction or value gained from consuming one more unit of a good or service. As you consume more of the cupcake, the marginal benefit starts to decrease. Eventually, you may reach a point where the marginal benefit turns negative, and you feel full or even sick." Marginal Cost: Now consider what it would cost you if every bite had a hidden cost. Perhaps it would be the extra money you would have to pay or effort and time it takes to bake a new batch of cupcakes This is what we refer to as your Marginal Cost, which is the delicious dilemma of diminishing returns! Another similar example we can infer to would be The cost of producing one more cupcake with an added topping of cherry would be the marginal cost as it may increase due to the fact that you need additional ingredients or labor. Opportunity cost: Opportunity Cost is the value of the best alternative forgone when making a decision. Imagine you have two job offers: one pays $50,000 a year, and the other pays $60,000 a year but requires you to work at the east side of singapore. If you choose the higher-paying job, the opportunity cost is the $10,000 you would have earned by taking the lower-paying job." Question 2: (USE National university of Singapore as an example) Can you explain how the scientific method can be used to assess the validity of policy interventions, such as increased funding for universities in Singapore?" ruthra vaitheshwari 10:18 PM Today check if all the below answers are correct and help to improvise Question 3: Our organisation is currently very concerned with the high level of market volatility. Can you discuss the effect that an increase in price has on demand for goods and services?What happens if prices of substitutes increase? Given an example. How would that affect the demand curve? (Hint; Think about what may shift the demand curve). What about the price of complements? (Demand, Substitutes, and Complements) Imagine cupcake prices going up. Usually, demand shrinks like a deflated souffle. People might switch to cookies (substitutes), leaving fewer customers for your cupcakes. But wait! What if the price of cookies goes up too? Then, your cupcakes might become relatively more attractive, increasing demand! It's all about substitutes and complements. Ice cream might complement your cupcakes, so if ice cream gets cheaper, people might buy more cupcakes tool Remember in the bakery of economics prices dance a delicate tango with supply and demand. ruthra vaitheshwari 10:18 PM Today answer this question ruthra vaitheshwari 10:17 PM Today write all the questions and explain well Question 1 : Can you briefly explain the concepts of Marginal Benefit, Marginal Cost, and Opportunity Cost in simple terms?" Marginal Benefit : Imagine yourself enjoying a delicious cupcake from your favorite bakery. The extra happiness you feel with each bite is what we call your Marginal Benefit. This refers to the additional satisfaction or value gained from consuming one more unit of a good or service. As you consume more of the cupcake, the marginal benefit starts to decrease. Eventually, you may reach a point where the marginal benefit turns negative, and you feel full or even sick." Marginal Cost: Now consider what it would cost you if every bite had a hidden cost. Perhaps it would be the extra money you would have to pay or effort and time it takes to bake a new batch of cupcakes This is what we refer to as your Marginal Cost, which is the delicious dilemma of diminishing returns! Another similar example we can infer to would be The cost of producing one more cupcake with an added topping of cherry would be the marginal cost as it may increase due to the fact that you need additional ingredients or labor. Opportunity cost: Opportunity Cost is the value of the best alternative forgone when making a decision. Imagine you have two job offers: one pays $50,000 a year, and the other pays $60,000 a year but requires you to work at the east side of singapore. If you choose the higher-paying job, the opportunity cost is the $10,000 you would have earned by taking the lower-paying job." Question 2: (USE National university of Singapore as an example) Can you explain how the scientific method can be used to assess the validity of policy interventions, such as increased funding for universities in Singapore?" ruthra vaitheshwari 10:18 PM Today check if all the below answers are correct and help to improvise Question 3: Our organisation is currently very concerned with the high level of market volatility. Can you discuss the effect that an increase in price has on demand for goods and services?What happens if prices of substitutes increase? Given an example. How would that affect the demand curve? (Hint; Think about what may shift the demand curve). What about the price of complements? (Demand, Substitutes, and Complements) Imagine cupcake prices going up. Usually, demand shrinks like a deflated souffle. People might switch to cookies (substitutes), leaving fewer customers for your cupcakes. But wait! What if the price of cookies goes up too? Then, your cupcakes might become relatively more attractive, increasing demand! It's all about substitutes and complements. Ice cream might complement your cupcakes, so if ice cream gets cheaper, people might buy more cupcakes tool Remember in the bakery of economics prices dance a delicate tango with supply and demand. ruthra vaitheshwari 10:18 PM Today answer this question ruthra vaitheshwari 10:17 PM Today write all the questions and explain well