1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Pavlova-9 [17]
2 years ago
11

Joe is currently in consumer equilibrium by consuming cheese and crackers, such that the last cracker consumed yielded 8 utils a

nd the last piece of cheese consumed yielded 12 utils. Assume the price of crackers is two cents per cracker and the price of cheese is three cents per piece. If the price of crackers increases to four cents, Joe should __________ his consumption of crackers and his marginal utility from crackers will __________ and also __________ his consumption of cheese and his marginal utility from cheese will __________.
Business
1 answer:
Ludmilka [50]2 years ago
4 0

Joe should decrease his consumption of crackers and his marginal utility from crackers will  increase and also  increase his consumption of cheese and his marginal utility from cheese will decrease .

<h3>What happens to marginal utility when consumption decreases?</h3>

According to the Law of Diminishing Marginal Utility, the additional utility derived from increasing consumption declines with each additional increase in consumption level.

What happens to marginal utility when consumption increases?

According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.

Why does marginal utility decrease as more is consumed?

  • Consumers will only purchase more of a specific good if the price drops since they get less satisfaction from consuming more units of that good.
  • Thus, the law of diminishing marginal value contributes to the understanding of the law of demand.

Learn more about marginal utility brainly.com/question/15149015

#SPJ4

You might be interested in
Competitive firms differ from monopolies in which of the following ways? (i) Competitive firms do not have to worry about the pr
Yuliya22 [10]

Answer:

The correct answer is all three options.

Explanation:

If price is reduced, the total revenue of perfectly competitive firm will not decline because a reduction in price will lead to increase in demand.

A monopoly firm is a price maker. It has a downward sloping demand curve. The demand curve is relatively elastic which means the firm needs to decrease price in order to sell more.

A firm in perfectly competitive market faces a horizontal demand curve,which means it can supply an level of output at the given price.

The demand curve in perfect competition reflects average revenue, marginal revenue and price. So, the price is equal to average and marginal revenue.

In a monopoly, the demand curve represents price and is higher than marginal revenue curve.

4 0
3 years ago
How many of the following items are found on the balance sheet, rather than the income statement?
hjlf

Answer:

B) Six of these items are found on the balance sheet.

Explanation:

Six items fall under assets or liabilities or share capital, which only appear in the balance sheet rather than income statement.

The items are the following;

Accounts receivable

Accrued payable

cash

Plant and equipment

Marketable securities

Retained earnings

8 0
3 years ago
Which is the best choice to explain why human resource manager is so important to organizations
Zielflug [23.3K]

Answer:

which is the best choice to explain why human resource manager is so important to organizations?

Human resource manager maintains the influx of the organization, they help in recruitment process as well as exempt or sack those that are not needed anymore in the organization.

Explanation:

5 0
3 years ago
The following information pertains to Company A's Year 1 inventory activities:
NikAS [45]

Answer:

1 & 5) FIFO Ending Inventory $ 10,800

2) moving average:   $  10,400

3) weighted average $  9,520

4) LIFO                       $  8,800

Explanation:

January 1 Beg Inv  90 $40 subtotal: $   3,600

May 15 Purchase 160 $65 subtotal:<u>  $ 10,400   </u>

                units:   250          total:       $ 14,000

April 11 Sale 50 $70

July 25 Sale 30 $75

Total sales   80 units

Ending Inventory: 250 - 80 = 170 units

<u> FIFO </u>the ending inventory is compose of the last nits

As it follows a crhonological order is the same under periodic and perpetual:

We start from the top

May 15th 160 at 65$   $10,400

170 - 160 units = 10 units

January 1 Beg Inv  10 units at  $40 = $ 400

Total ending inventory: $ 10,800

<u>Moving average: </u>

the average is calculate based on the aailable good at hand before eahc purchase:

At April 11th the company's available goods are the beginning invenory thus the COGS is

50 units x 40 dollars each = 2,000

Then, at July 25th the inventory available is:

40 units at $40 dollars          =    1,600

and 160 units at 65 dollars   = <u> 10,400  </u>

total   200 units at                    12,000

Average: $12,000 / 200 units = $60 per unit

COGS: 30 units x $60 = 1,800

Total cost: 2,000 + 1,600 = 3,600

Ending inventory: 14,000 - 3,600 = 10,400

<u>Weighted average:</u>

we divide total goods available over the total units purchased:

14,000 / 250  = 56 dollar per unit

ending inventory 170 units x 56 per unit = $ 9,520

<u>LIFO:</u>

the last units are sold while the first are ending inventory we start from the top part :

January 1 Beg Inv  90 $40 subtotal: $   3,600

170 units - 90 units = 80 units

May 15 Purchase 80 $65 subtotal:   $<u>   5,200  </u>

                                      Total             $    8,800

8 0
3 years ago
Which of the following is a characteristic of a public good?
Rudiy27
The answer is B trust me
5 0
2 years ago
Other questions:
  • Suppose a basket of goods and services has been selected to calculate the consumer price index. In 2005, the basket of goods cos
    8·1 answer
  • Custom foot operates six retail locations. at first glance, none looks different from a typical boot store. but here the only bo
    12·2 answers
  • The three conditions that characterize difficult managerial decisions concerning resources, capabilities, and core competencies
    10·1 answer
  • The records for Sandhill Inc. showed the following for 2020: Jan. 1 Dec. 31 Accrued expenses $1,200 $2,100 Prepaid expenses 630
    15·1 answer
  • Megan Brink is offered the possibility of investing $6,651 today at 6% interest per year in a desire to accumulate $10,000.
    13·1 answer
  • A cost that changes in proportion to changes in volume of activity is a(n): Multiple Choice Differential cost. Fixed cost. Incre
    10·2 answers
  • List 5 Skills that demonstrate good professionalism:
    8·1 answer
  • Which two actions will help you get the most benefit from an informational interview
    10·1 answer
  • PLZ HELP! I WILL GIVE BRAINLIEST+30 POINTS!
    10·2 answers
  • 1.1.<br>State 8 business functions and explain their roles​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!