All categories

2 years ago

The current price of a turkey sandwich is $6. If kyle is currently buying five turkey sandwiches a week, he:_______

Business

1 answer:

Vsevolod [243]2 years ago

4 0

The utility is not maximized since the marginal utility gained from the fifth sandwich is greater.

In economics, utility refers to the entire satisfaction or benefit gained from consuming an item or service. Consumer utility maximization is commonly assumed in the economic theories based on the rational choice.

In economics, the marginal utility is the additional satisfaction (utility) that a buyer receives by purchasing an additional unit of the product or the service. It computes utility once the first product is consumed (the marginal amount).

Therefore, the utility is not maximized , from the fifth sandwich onwards the marginal utility is more.

To know more about utility click here:

brainly.com/question/24848038

#SPJ4

You might be interested in

A(n) ______ business is any firm that engages in cross-border trade or investment.

tamaranim1 [39]

An international business is any firm that engages in cross-border trade or investment.

What is cross-border?

A cross border trade or investment is a trade or investment involving two or more countries where the parent company based in one country establishes another business in another country.

International businesses which are also known as the multinational companies transcends beyond one country since diversification of investments and trade is key to enhancing overall business performance

Find out more about international business on:brainly.com/question/14690606

#SPJ1

4 0

2 years ago

Which of the following is true concerning economic growth?

givi [52]

The statement that is true is An institutional environment that provides a strong incentive for people to engage in productive activities will promote economic growth. Option D is correct

<h3>What is Economic growth?</h3>

Economic growth is used when a country performs better than the previous years in terms of it economy.

The country may have an increase the in quantity if goods supplied ands demanded that year compare to other years thereby increasing the money in.

Therefore, the statement that is true is An institutional environment that provides a strong incentive for people to engage in productive activities will promote economic growth. Option D is correct

Learn more on economic growth below

brainly.com/question/1690575

#SPJ1

5 0

2 years ago

Sustainable development refers to A. placing restraints on a company's growth until all ancillary support services are in place

Semmy [17]

Answer:

The correct answer is letter "C": conducting business in a way that protects the natural environment while making economic progress.

Explanation:

Sustainable development is the capacity an institution has to satisfy individuals' needs without damaging the environment neither harming the atmosphere. To reach this stage there must be an equilibrium between the <em>economy, society, </em>and <em>the environment.</em> Sustainable development is difficult to be obtained with high poverty rates, habitats destruction, or indiscriminately resources exploitation.

4 0

3 years ago

Kingbird, Inc. uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable

antoniya [11.8K]

Answer:

(a) The adjusting journal entry to record bad debt expense for the year:

Debit Bad debt expense $5,640

Credit Allowance for doubtful accounts $5,640

<em>(To record bad debt expense)</em>

(b) If the allowance for doubtful accounts had a debit balance of $870 instead of a credit balance of $2,950, The appropriate journal entries are:

Debit Bad debt expense $9,460

Credit Allowance for doubtful accounts $9,460

<em>(To record bad debt expense)</em>

Explanation:

To arrive at the bad debt expense for Kingbird, Inc., we simply need to calculate 3% of accounts receivable, as follows:

2% of $429,500 = $8,590

Since the allowance for doubtful accounts has a credit balance of $2,950, the bad debt expense will be: $8,590 - $2,950 = $5,640. The appropriate journal entries are as provided above.

However, if the allowance for doubtful accounts had a debit balance of $870 instead of a credit balance of $2,950, the bad debt expense will be: $8,590 + $870 = $9,460. The addition is necessary in order to reinstate the allowance account to $8,590. The appropriate journal entries are as provided above.

6 0

3 years ago

Old Economy Traders opened an account to short-sell 1,000 shares of Internet Dreams from the previous problem. The initial margi

Inessa [10]

Answer:

A. 38%

B. NO

C. -150%

Explanation:

A.Calculation for What is the remaining margin in the account

Remaining margin=(1,000 shares*$40 per share*50%) /[(1,000 shares*$50 per share )+ ($2 per share*1,000)]

Remaining margin=$20,000/($50,000+$2,000)

Remaining margin=$20,000/$52,000

Remaining margin=0.38*100

Remaining margin=38%

Therefore the remaining margin in the account will be 38%

B. In a situation where the maintenance margin requirement is 30 percent, Old Economy will NOT receive a margin call reason been that based on the above Calculation the margin is 38% which means that it is abovethe maintenance margin requirement of 30%.

C. Calculation for What is the rate of return on the investment

Rate of return=[(1,000 shares*$40 per share)-(1,000 shares*$50 per share )] -(1,000 shares*$40 per share*50%) ÷(1,000 shares*$40 per share*50%)

Rate of return=($40,000-$50,000) -$20,000 ÷ $20,000

Rate of return = (-$10,000 -$20,000)/$20,000

Rate of return =-$30,000/$20,000

Rate of return = -1.5*100

Rate of return = -150%

Therefore rate of return on the investment will be -150%

3 0

3 years ago