Suppose that Ms. Thomson is currently exhausting her money income by purchasing 10 units of A and 8 units of B at prices of $6 and $3, respectively. The marginal utility of the last units of A and B are 30 and 18, respectively. These data suggest that Ms. Thomson
Multiple Choice
a. has preferences that are at odds with the principle of diminishing marginal utility.
b. considers A and B to be complementary goods.
c. should buy more A and less B.
d. should buy more B and less A.
Answers
Ms. Thomson is currently exhausting her money income by purchasing 10 units of A and 8 units of B at prices of $6 and $3, respectively. The marginal utility of the last units of A and B are 30 and 18, respectively. These data suggest that Ms. Thomson "should buy more B and less A", hence option d is correct.
Marginal utility (MU) is the satisfaction that is acquired from consuming an additional unit of goods. It is the extra utility that a person obtains from an extra unit of a good or service.In economics, the law of diminishing marginal utility (DMU) states that as an individual consumes more and more units of a specific commodity, the marginal utility of the commodity begins to decrease, making it more unappealing. When marginal utility becomes zero, utility cannot be increased any further by consuming more units of the commodity.Suppose that Ms. Thomson is currently exhausting her money income by purchasing 10 units of A and 8 units of B at prices of $6 and $3, respectively. The marginal utility of the last units of A and B are 30 and 18, respectively.Ms. Thomson has 10 units of A, and the marginal utility of the last unit is 30; this implies that each unit of A yields 3 units of marginal utility (30/10 = 3).Ms. Thomson has 8 units of B, and the marginal utility of the last unit is 18; this implies that each unit of B yields 2.25 units of marginal utility (18/8 = 2.25).The data indicate that Ms. Thomson has more MU for A than B, but the marginal utility of A is falling faster than that of B, indicating that Ms. Thomson is not satisfied with purchasing more A, which leads to the answer (d) should buy more B and less A.
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Related Questions
Z = C + I + G C = 300 + 0.9Y_{D} T = 1000
Y_{D} = Y - T
I = 200
G = 2000
Answer the following questions, and include your working steps:
a) Calculate the equilibrium level of output. (4 Marks)
b) After you have calculated the equilibrium income, calculate the level of consumption at this level of output. (3 Marks)
c) Write out the saving function for this economy. Then, calculate the level of saving that occurs at the equilibrium level of output. (3 Marks)
Answers
The equilibrium level of output is 32,000. At this level, the consumption is 28,200, and the saving is 3,800.
To calculate the equilibrium level of output, we start by using the equation Y = C + I + G, where Y represents output, C represents consumption, I represents investment, and G represents government spending. Given the following information:
C = 300 + 0.9Y_D
T = 1000
Y_D = Y - T
I = 200
G = 2000
a) Calculate the equilibrium level of output:
Substituting the given values into the equation:
Y = C + I + G
Y = (300 + 0.9(Y - T)) + 200 + 2000
Y = 300 + 0.9(Y - 1000) + 200 + 2000
Y = 300 + 0.9Y - 900 + 200 + 2000
Y - 0.9Y = 600 + 2000 - 300 + 900
0.1Y = 3200
Y = 3200 / 0.1
Y = 32,000
Therefore, the equilibrium level of output is 32,000.
b) To calculate the level of consumption at this equilibrium level of output:
Substitute the value of Y into the consumption function:
C = 300 + 0.9Y_D
C = 300 + 0.9(Y - T)
C = 300 + 0.9(32,000 - 1000)
C = 300 + 0.9(31,000)
C = 300 + 27,900
C = 28,200
Therefore, the level of consumption at the equilibrium level of output is 28,200.
c) The saving function for this economy can be derived from the equation S = Y - C, where S represents saving.
Substituting the values:
S = Y - C
S = 32,000 - 28,200
S = 3,800
Therefore, the level of saving that occurs at the equilibrium level of output is 3,800.
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Please help I don’t understand 100 points
3. Prepare a T account for each transaction. Label the account title for each account affected. Use the chart of accounts you created in Question 1. Write the debit and credit amounts for each T account to show how the accounts are affected. The first one is done for you.
a. Start Microsoft Excel, and open the BUS113_03_05.xlsx file from C:\ACTT1\Data\Unit_3.
b. Click the File tab, and click Save As. Save the file to C:\ACTT1\Student\Unit_3.
c. Received cash from owner, Roger Fisher, as an investment, $10,000.00.
d. Paid cash for insurance, $2,400.00.
e. Bought supplies on account from Boats Wholesale, $1,500.00.
f. Sold services on account to Salmon Slayers, $600.00.
g. Paid cash for fuel, $500.00.
h. Paid cash to owner, Roger Fisher, for personal use, $1,250.00.
i. Save and close the spreadsheet.
j. Submit your file to your instructor for grading.
Answers
The preparation of a T-account for each transaction is as follows:
CashAccount Titles Debit Credit
c. Capital, Roger Fisher $10,000
d. Insurance Expenses 2,400
g. Fuel Expenses 500
h. Withdrawal, Roger Fisher 1,250
Capital, Roger FisherAccount Titles Debit Credit
c. . Cash $10,000
Insurance ExpensesAccount Titles Debit Credit
d. Cash $2,400
SuppliesAccount Titles Debit Credit
e. Accounts Payable (Boats
Wholesale) $1,500
Accounts PayableAccount Titles Debit Credit
e. Supplies $1,500
Accounts ReceivableAccount Titles Debit Credit
f. Services Revenue $600
Services RevenueAccount Titles Debit Credit
f. Accounts Receivable $600
Fuel ExpensesAccount Titles Debit Credit
g. Cash $500
Withdrawals, Roger FisherAccount Titles Debit Credit
h. Cash $1,250
What is a T-account?A T-account is an informal accounting term that describes a ledger account used to post business transactions after being recorded in journals.
T-accounts subsist on the double-entry system of accounting where a transaction has debit and credit aspects.
Transaction Analysis:c. Cash $10,000 Capital, Roger Fisher $10,000
d. Insurance expenses $2,400 Cash $2,400
e. Supplies $1,500 Accounts Payable (Boats Wholesale) $1,500
f. Accounts Receivable (Salmon Slayers) $600 Services Revenue $600
g. Fuel $500 Cash $500
h. Withdrawal, Roger Fisher $1,250 Cash $1,250
Thus, the transactions from c to h have been recorded in their T-accounts.
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The Seven Steps to Move into a New Field
Answers
Answer:
what? I'll answer in comments if this is a mistyped question
The lengths of the sides of two squares are 4cm and 6cm . find in its simplest form the ratio of their perimeters and areas
Answers
Answer:
Perimeters, 2:3
Areas, 4:9
Explanation:
The formula for calculating the area of a square is L squared. Findings perimeter is L x 4
The perimeters
The Perimeter of the first square: 4cm x 4 = 16
The perimeter of the second square: 6cm x 4 =24
Their ration will be 16:24
in simple form = 2:3
The areas
Area of the first square: 4 x 4 = 16
Areas of the second square: 6 x 6 =36
Their ratio will be 16:36
In simple form= 4:9
A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size (set by the Small Business Administration) in terms of employees or annual receipts.
Answers
A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size (set by the Small Business Administration) in terms of employees or annual receipts is known as a small business.
Small businesses may be sole proprietorships, partnerships, or corporations, and they may operate in almost any industry.
A sole proprietorship is a business run by a single individual. The individual owner assumes all of the company's responsibilities and receives all of the company's profits. As a result, they are responsible for all of the business's debts and financial obligations.A partnership is an enterprise that is owned and operated by a group of two or more people. The owners share responsibilities and risks, and they may have different roles in the company. Profits are split among the partners according to the terms of the partnership agreement.A corporation is a legal entity that is independent of its owners. It is created by a group of individuals who wish to engage in a specific business activity. The corporation may issue shares of stock, and it is governed by a board of directors. A corporation can raise money by selling stock, and it is subject to a variety of rules and regulations established by federal and state governments.You can learn more about small business at
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Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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Which step of the legislative process is missing?
with answers in screenshot
Answers
Find a news headline that refers to the business cycle. What phase of the business cycle does your headline reference? Explain.
Answers
Answer:
The business cycle typically consists of four phases:
Expansion: This phase is characterized by increasing economic activity, rising GDP, low unemployment rates, high consumer confidence, and increased business investments.
Peak: The peak represents the highest point of economic expansion before the cycle starts to slow down.
Recession: This phase marks a slowdown in economic activity. It is characterized by declining GDP, rising unemployment, reduced consumer spending, and decreased business investments.
Trough: The trough represents the lowest point of the business cycle. It is the phase where the economy reaches its bottom before starting to recover.
When you purchase shares of a company in the market, who are you buying those shares from?
Answers
Answer:
Normally, you are buying those shares from someone who already owns them. You are not buying them directly from the company itself, but instead someone who owns shares from the company, called a shareholder or stockholder.
Explanation:
I hope this helps! :)
A pillow is a raw material?
True
O False
Answers
False, a pillow is not a raw material. However, it's made of raw materials like:
- polyester
- linen
- satin
- silk
- etc....
Which statements about the variance of a two-asset portfolio are correct? Define the variance of asset D as σD2, the weight on asset D as wD, the variance of asset E as σE2, the weight on asset E as wE., and the covariance of the asset returns as Cov(rD,rE). [Recall that a variance is the covariance of an asset with itself.]
a. It is given by the formula w2DD2 σ2DD2 + w2EE2 σ2EE2 + 2 wD wE Cov(rD,rE).
b. It is the weighted average of the security variances with the squared investment proportions as weights.
c. It is the weighted sum of covariances, where each weight is the product of the portfolio proportions of the pair of assets in the covariance term.
d. It is given by the formula w2DD2 σ2DD2 + w2EE2 σ
Answers
Statements b and d are incorrect. c. It is the weighted sum of covariances, where each weight is the product of the portfolio proportions of the pair of assets in the covariance term.
a. It is given by the formula wD^2 * σD^2 + wE^2 * σE^2 + 2 * wD * wE * Cov(rD, rE).
This formula calculates the variance of a two-asset portfolio using the weights (wD and wE) and variances (σD^2 and σE^2) of asset D and asset E, as well as the covariance between the two assets' returns (Cov(rD, rE)).
c. It is the weighted sum of covariances, where each weight is the product of the portfolio proportions of the pair of assets in the covariance term.
This statement describes how the variance of a two-asset portfolio includes a term that accounts for the covariances between the assets.
The weights are the product of the portfolio proportions of the assets in the covariance term (wD * wE in this case).
Statements b and d are incorrect.
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An Investor who brings _____ equity often will recelve a share of ownershlp in the company although she did not Invest capital, but effort Use this media to help you complete the question.
sweat
additional
bootstrapped
lingering
Answers
Answer:
additional equity I think
Banks that practice fractional reserve banking are able to:
A. change the interest rates on loans for any reason.
B. provide financial services to customers at no cost.
C. lend most of the money they hold as deposits.
D. return all of their deposited cash at any time.
Answers
Answer:
C. lend most of the money they hold as deposits.
Explanation:
Banks that practice fractional reserve banking are able to lend most of the money they hold as deposits.
Fractional reserve banking is a banking system in which banks are required to hold only a fraction of the money deposited by customers in reserve while lending out the remaining amount to earn interest. The fraction of deposits that banks are required to hold in reserve is typically set by central banks or regulatory authorities.
This means that banks are able to lend out most of the money they hold as deposits, while still maintaining enough reserves to meet their obligations to depositors. This practice allows banks to earn interest on loans and generate profits, while also providing a source of credit for borrowers who need it.
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order these ideologies from those that call for the least amount of government involvement in the economy and society to those that call for the greatest amount of government involvement.
Answers
Placing different ideologies from those that support the least amount of government involvement in the economy and society to those that support the greatest amount of government involvement, we have Libertarian, Conservative, followed by Liberal, then finally Socialist.
This is because Libertarian is an ideology that is known for drastic laissez-faire political doctrine. They seek little government interference in every aspect of society.
Conservative is an ideology known for supporting sovereignty over equality. They support capitalism with no government interest in issues relating to business and social welfare policies.
Liberal this an ideology known for advocating for government involvement in education, labor, and social programs. They believe in greater equality of society and are more tolerant of others.
Socialism is an ideology known for supporting the idea of government owning and controlling everything in society, including economic and social issues. They prefer equality over freedom.
Hence, in this case, it is concluded that Libertarian ideology least wants government involvement in the society. At the same time, Socialism is the ideology that mostly wants government involvement in society.
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In the years prior to 2014, what was the (approximate) average percent of loan value secured by collateral?
Answers
The average percentage of loan value secured by collateral can vary widely depending on the type of loan, lender requirements, and borrower's creditworthiness.
In general, secured loans require collateral to reduce the lender's risk and offer more favorable interest rates or terms. The percentage of loan value secured by collateral can range from 20% to 80% or more, depending on the specific loan type and lender requirements. For example, a mortgage loan may require collateral worth up to 80% of the property value, while a small business loan may require a lower percentage of collateral.
Therefore, to determine the average percentage of loan value secured by collateral in the years prior to 2014, it is essential to consider the specific loan type and lender requirements during that time.
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For _____ to be successful, individuals from opposing sides need to be genuinely interested in finding a resolution to the problem and willing to listen to each other.
a. Utilitarian conflict
b. Functional conflict
c. Practical conflict
d. Dysfunctional conflict
Answers
For functional conflict to be successful, individuals from opposing sides need to be genuinely interested in finding a resolution to the problem and willing to listen to each other.
Functional conflict refers to a type of conflict that is constructive and beneficial for organizations. It involves disagreements and differing opinions that can lead to better decision-making and innovation. However, for functional conflict to be successful, it requires individuals to approach the conflict with a genuine interest in resolving the issue at hand. This means being open to listening to different perspectives, considering alternative solutions, and engaging in productive dialogue. Without this willingness to collaborate and find common ground, functional conflict can turn into dysfunctional conflict, which is destructive and detrimental to organizational effectiveness.
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b. Assume the creation of city parks has spillover benefits that improve society as a whole. Explain two positive extemalities associated with making more parks. Who receives the external benefits? Explain what the government must do to fix the positive externality. ECON EXTERNALITY REVIEW.
Answers
Answer:
Explanation:
The format for the equation of a circle is (x-h)^2+(y-k)^2=r^2, where (h,k) is your center and r is your radius. All we have to do is substitute the correct values, giving us the equation (x+2)^2+(y-1)^2=4
(1) compute its accounts receivable turnover for year 2 and year 3. (2) assuming its competitor has a turnover of 11, is raheem performing better or worse at collecting receivables than its competitor?
Answers
The account receivable for Year 2 and Year 3 is 8.8 and 9.4. As Raheem's accounts receivable turnover is lower than its competitor's turnover of 11, Raheem is performing worse.
To compute the accounts receivable turnover for Year 2 and Year 3, we will use the following formula:
Accounts Receivable Turnover = Net Sales / Average Accounts Receivable
Step 1: Calculate the average accounts receivable for Year 2 and Year 3.
Year 2:Average Accounts Receivable = (Year 1 Accounts Receivable + Year 2 Accounts Receivable) / 2
= ($34,800 + $41,400) / 2
= $76,200 / 2
= $38,100
Average Accounts Receivable = (Year 2 Accounts Receivable + Year 3 Accounts Receivable) / 2
= ($41,400 + $44,800) / 2
= $86,200 / 2
= $43,100
Step 2: Calculate the accounts receivable turnover for Year 2 and Year 3.
Year 2:Accounts Receivable Turnover = Net Sales / Average Accounts Receivable
= $335,280 / $38,100
= 8.8
Accounts Receivable Turnover = Net Sales / Average Accounts Receivable
= $405,140 / $43,100
= 9.4
Now, we will compare Raheem's accounts receivable turnover with its competitor's turnover of 11.
Year 2:Raheem: 8.8
Competitor: 11
Raheem: 9.4
Competitor: 11
In both Year 2 and Year 3, Raheem's accounts receivable turnover is lower than its competitor's turnover of 11. This indicates that Raheem is performing worse at collecting receivables than its competitor.
Note: The question is incomplete. The complete question probably is: The following information is from the annual financial statements of Raheem Company. (1) Compute its accounts receivable turnover Year 2 and Year 3. ,(2) Assuming its competitor has a turnover of 11, is Raheem performing better or worse at collecting Receivable than its competitor?
Year 3. Year 2. Year 1
Net sales $405,140 $335,280. $388,000
Accounts Receivable, net ( year -end)
44,800. 41,400. $ 34,800
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Where can one go to if he or she decides to open up a business but does not have the necessary finance available?
Answers
Answer:
Ask your family and friends to invest in your business.
Apply for a small business grant.
Use a crowdfunding platform.
Pitch to angel investors.
Solicit venture capital.
Use a credit card for a short-term cash option.
Get a microloan.
Bootstrap it.
Explanation:
The four types of entrepreneurs:
Coasting, opportunity comes to them (or it doesn't)
Conservative (very moderate use of resources, protecting existing resources)
Aggressive (proactive, all-in, actively seeks opportunity)
Innovator/Revolutionary (attains growth through innovation)
When participating in the
___________ ___________ ___________ students and FBLA Chapters
are able to compete with students and chapters ranked the best in the state in competitive events.
The election of State officers occurs at this event.
O National Leadership Conference
O Fall Leadership Conference
O State Leadership Conference
O Regional Leadership Conference
Answers
Answer:
At the National Leadership Conference
Explanation:
to assess the usability of a site, the designers of the site can ask visitors to perform a sequence of tasks and observe the problems they encounter. true false
Answers
The statement "to assess the usability of a site, the designers of the site can ask visitors to perform a sequence of tasks and observe the problems they encounter" is true because it is a widely accepted method of usability testing called User Testing.
User Testing involves watching real users interact with the website and noting their difficulties, to gain insights into how to improve the site’s usability. The process can be done in-person or remotely, and provides real-time feedback that helps designers identify problematic areas of the website.
This can include issues with navigation, content, layout, or functionality. The goal of user testing is to identify areas that can be improved in the website so that it can be made more user-friendly, and ultimately, lead to higher conversion rates and greater success.
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Which of the following is not useful for staying organized at school?
Answers
Answer:
The second answer
Explanation:
That would not help you do well in school
The option that is not useful for staying organized at school is skipping homework to have more time for extracurricular activities.
Why it is essential to stay organized?Organizing the daily calendar and tasks assists a person to focus on the tasks that need to be completed that day rather than being sidetracked by other things.
The process of staying organized at school includes to creating the remainders for the homework, then dating all work and keep the order of that work according to the situation.
Finally, a student color coding the school subjects that become more attractive in reading.
Therefore, option B is correct.
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Mrs. Hanson has 2 pies for a party. She calculates that if she splits the pies evenly among the guests, they will each receive
1
8
of a pie. How many guests are there?
Answers
Answer:
16 guests
Explanation:
If each guest is getting 1/8 of a pie, it means one pie is being divided into eight parts. One part is 1/8. One pie will be served to eight guests.
Two pies will be sufficient for 2x 8 = 16 guests.
True or false genres or categories of repertory, do not necessarily transfer from one society to the next though they may be similar. Music
Answers
Answer:
True
Explanation:
Considering the style and function of music in society, researchers have found out that music is used for different specific purposes, in every different society as well.
In other word, there is specific music for specific events, hence, it is TRUE that "genres or categories of repertory, do not necessarily transfer from one society to the next, though they may be similar."
revenues are:multiple choicethe same as net income.the excess of expenses over assets.resources owned or controlled by a company.increases in equity from a company's sales of products and services.the costs of assets or services used.
Answers
Revenues are increases in equity from a company's sales of products and services. In other words, revenues represent the income that a company generates from its primary business activities.
It is important to note that revenues are not the same as net income, which is the total profit that a company earns after subtracting all of its expenses from its revenues. Revenues are also different from expenses, which are the costs of assets or services used by a company to generate its revenues.
Revenues are a crucial metric for businesses, as they are used to calculate important financial ratios such as gross profit margin and net profit margin. Furthermore, revenues are used to determine a company's growth potential and its ability to reinvest in its operations. In summary, revenues are a key indicator of a company's financial health and performance, and they play a critical role in its long-term success.
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Question 4
Before you start making donations to not-for-profits you should write up a
business plan, give yourself a company name, and hire employees.
True.
False
Answers
Answer:
false
Explanation:
help quick!
According to the video, which qualities do Insurance Underwriters need? Check all that apply.
O communication skills
O customer service skills
Ocomputer skills
Oknowledge of sales strategies
Oan outgoing attitude
O a background in finance
Answers
Answer: 1 3 6 or A C F
Explanation:
I just did it on the edge
Answer:
ACF
Explanation:
got it correct on Edge 2020
On August 1, 2018, Kira purchased 100 shares of ITC stock for $5,000. There were no subsequent adjustments to her basis. On August 1, 2019, she sold 50 shares for $1,800. On August 31, 2019, she sold the other 50 shares for $3,400. Kira has a: ___________
a. Short-term loss of $200.
b. Short-term loss of $700 and a long-term gain of $900.
c. Long-term gain of $200.
d. Long-term loss of $700 and a short-term gain of $200.
Answers
Answer:
b. Short-term loss of $700 and a long-term gain of $900.
Explanation:
August 1, 2018, price per share $50
August 1, 2019, sold 50 shares at $36, resulting in a short term capital loss of ($700)
August 31, 2019, sold 50 shares at $68, resulting in a long term capital gain of $900
If you own a stock for 1 year or less, any gain/loss will be considered short term. If you own a stock for more than 1 year, any gain/loss will be considered long term.
an organization has its employees working from home. which type of software most likely includes collaboration features to help the employees work tog
Answers
The type of software that have collaboration features to help work together from home is b. web apps.
What is web apps?Web apps is a type of software or application that based on and using a web browser with internet connection this software application relies on the browser to render the application that supported web browser code such as PHP, JavaScript, Java, Python, etc.
Different than other apps in option, Web apps have a collaboration features because they based on web browser, so everyone that have an access to internet, the browser, and the file or application that provided by organization can work in anywhere and also can collaborate with anyone in the same application if accessible.
Thus, the type of software that include collaboration features to help work from home is web apps.
The type of software that have collaboration features to help work together from home is b. web apps.
What is web apps?Web apps is a type of software or application that based on and using a web browser with internet connection this software application relies on the browser to render the application that supported web browser code such as PHP, JavaScript, Java, Python, etc.
Different than other apps in option, Web apps have a collaboration features because they based on web browser, so everyone that have an access to internet, the browser, and the file or application that provided by organization can work in anywhere and also can collaborate with anyone in the same application if accessible.
Thus, the type of software that include collaboration features to help work from home is web apps.
You question is incomplete, but most probably your full question was
An organization has its employees working from home. Which type of software most likely includes collaboration features to help the employees work together online?
a. Local apps
b. Web apps
c. Portable apps
d. Device management apps
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Colleges are investing in golf facilities to boost programs and appeal to donors across sports. Which school is currently renovating or preparing to begin work on a new facility?
Answers
By the implementing appropriate solutions, such as adaptable educational space solutions and its infrastructure, the renovation helps school facility leaders reposition the outdated and ageing infrastructure for the future. Without careful planning, renovating a school can be difficult.
The renovation is characterised as any alteration to an existing structure, or to a part of a structure, which the disturbs painted surfaces. The skills needed today, such as those in science and technology, medical science, and other fields, are taught in the modern education infrastructure. In addition to listening, the modern education includes writing, visualising, imagining, and thinking skills.
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