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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

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Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales p
Juliette [100K]

Answer:

The answer is option E) The type of analysis that Jamie is doing is best described as scenario analysis.

Explanation:

scenario analysis assesses the effect of changing all the input variables at the same time.

Scenarios being considered can relate to a single variable, such as the relative success or failure of a new product launch, or a combination of factors, such as the results of the product launch combined with possible changes in the activities of competitor businesses. The goal is to analyze the results of the more extreme outcomes to determine investment strategy.

In this case, scenario analysis is used in analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales price, and the cost estimates.

4 0
3 years ago
All of the following phrases describe a partnership except
tamaranim1 [39]
All of the following phrases describe a partnership except (<span>B) high protection for your personal assets. Being with a partnership, at least, you have this idea of shared responsibility in making decisions for the company. Always, starting with low costs will surely be experienced in partnerships. The involvement between you and your partner will be up to 20 depends on the agreement.</span>
3 0
3 years ago
Which of the following is NOT one of the factors complicating the techniques for addressing the fixed-position layout?
MAVERICK [17]

Answer:

C) Takt times at workstations are dynamic.

Explanation:

A fixed-position layout can be regarded as a layout that allow products to stay in one place, and movement of workers and machinery can be moved to it once needed. Some of the Products that are not possible to move are airplanes, construction projects as well as ships. Fixed-position layout is usually used when dealing with product which are too large or heavy to move. Disadvantages is that it takes space, and administration burden is usually high. Factors that could complicate the techniques for addressing the fixed-position layout are;

✓There is limited space at virtually all sites.

✓The volume of materials needed is dynamic.

✓At different stages of a project, different materials are needed; therefore, different items become critical as the project develops.

5 0
3 years ago
Suppose that a large lake in the middle of Minnesota evaporates, leaving more fertile farm land for growing corn available. Assu
densk [106]

Wages would fall as the number of workers available grows. Landowners in Louisiana will earn more rent as the demand for land increases.

<h3>What is the law of demand and supply?</h3>

The law of supply and demand is still in effect:

Wages: when the amount supplied increases, but the quantity required does not, the price falls.

When the quantity required increases without the quantity supplied increasing, the price rises.

Thus, Wages would fall as the number of workers available grows.

For more details about law of demand, click here:

brainly.com/question/14273030

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7 0
2 years ago
A country recently experienced a drop in consumer purchases and a rise in business inventories of durable goods. Wages grew slow
brilliants [131]

Answer:

A recession

Explanation:

A recession is a period of slow or negative economic growth that lasts several months. In a recession, there is a general decline in productivity in the economy. In other words, the GDP growth rate drops too low or turns negatives.

Due to low productivity, unemployment rate rises as the industries and services sectors lay-off workers instead of creating job opportunities.  There is reduced consumer confidence leading to low retail sales and a decline in prices.

Negative growth implies reduced levels of investment in the economy. Businesses experience low profits, and hence, stock prices fall.  Economist considers recessions a part of a normal business cycle.

8 0
3 years ago
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