Answer: will be straight lines with a slope of -1/2.
Explanation:
An indifference curve simply means the combination of two goods that can give a consumer equal satisfaction, and this makes the consumer indifferent.
It should be noted that along the curve, the consumer will have an equal preference which is for the combinations of the goods that are shown.
If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on the horizontal axis, then the indifference curves will be straight lines with a slope of -1/2. Here, the fact that the slope is negative
is due to the fact that the curve is downward sloping.
The answer is Yes.
A business can run properly and the problems are solved considering only labor and capital and sometimes land in the production process.
Answer:
A) $930
B) $930
C) See explanation
Explanation:
A) Since Jeremy spends by purchasing products from Michele, Michele earns an income. As there are no further activity, the economy's income is $930.
B) Since Jeremy spends by purchasing products from Michele, Jeremy pays money. As there are no further activity, the economy's expense is $930.
C) There is a relationship between income and expenses in an economy. That relationship is called the consumption factor. If people earn money, they tend to spend that money. In an economy, someone's income may include another person's expenditure. An example can show the relationship in a better way -
If Mary earns money by providing services, it will be her income and also the economy's income. As another person pays fees for the services, it will be the customer's expense and also the economy's expenditure.
Answer:
a.consumer choices
Explanation:
why because the consumers picks the households
Answer:
The amount of gross margin is 28 if Hoover uses the weighted average cost method
Explanation:
Based on this information, the amount of gross margin is 28 if Hoover uses the weighted average cost method.
When using the weighted average method, you divide the cost of goods available for sale by the number of units available for sale, which yields the weighted-average cost per unit.
From the scenario, the two identical inventory items purchased are:
First cost ........$33.00.
Second cost ..$35.00.
Weighted Cost = (33 x 1) + (35 x 1)] / 2 = $34
Gross profit = $62.00 (sales price) - $34 (cost) = $28
