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Nikolay [14]
1 year ago
13

If terry's total utility is maximized when he owns 10 pairs of shoes, then terry's total utility from owning 7 pairs of shoes is

______ terry's total utility from owning 8 pairs.
Business
1 answer:
Aleks [24]1 year ago
3 0

If terry's total utility is maximized when he owns 10 pairs of shoes, then terry's total utility from owning 7 pairs of shoes is less than terry's total utility from owning 8 pairs.

The benefit that a person receives from consuming all of a given commodity's units at once or over time is referred to as their total utility.

In other terms, total utility is the overall satisfaction attained through the consumption of numerous units of commodities and services. Every unit of a commodity has a marginal utility, which is a benefit gained from consuming an extra unit. The total utility is the total of all these marginal benefits.

The consumer tries to consume various combinations of products and services within the available restricted resources (money) in order to optimise his overall utility. Generally speaking, individuals try to get the most out of the money they spend on goods and services.

Learn more about Total utility here brainly.com/question/9192772

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Dave Bowers collects U.S. gold coins. He has a collection of 41 coins. Some are​ $10 coins, and the rest are​ $20 coins. If the
taurus [48]

Answer:

1. Dave has 23 ($10 coins) and 18 ($20) coins.

2. Dave has 18 ($10 coins) and 16 ($20) coins.

Explanation:

1.

Let x be the number of $10 coins.

Then, the number of $20 coins will be 41-x.

The equation for the sum of money can be written as:

590 = 10x + 20 * (41-x)

590 = 10x + 820 - 20x

590 - 820 = -10x

-230 / -10 = x

x = 23

This means that Dave has 23 $10 coins and (41-23 = 18) 18 $20 coins that sum up to a face value of $590.

2.

Using the same priciple,

let x be the number of $10 coins

let 34-x be the number of $20 coins

Sum of money equation:

500 = 10x + 20 * (34-x)

500 = 10x + 680 - 20x

500 - 680 = -10x

-180 / -10 = x

x = 18

So, Dave has 18 $10 coins and (34-18 = 16)  16 $20 coins that add up to a face value of $500.

3 0
3 years ago
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Consider an internet or e-commerce company that sells exclusively in the US but wants to expand globally. What kind of strategy
AleksandrR [38]

Answer:

(a) Strategy recommended for initial expansion

Target Markets

Market Entry

(b) Factors to consider when pursuing the expansion strategy

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Cultural Understanding

Explanation:

There are two parts of this question. Therefore, they are written in details below as points (a) and (b)

<u>(a) Strategy recommended for initial expansion</u>

<u>Target Markets</u>

In order to proceed with any idea/plan at a strategic level, one must consider doing their homework. This means to understand the international customers, what do they buy, at what price is the goods preferred, which methods of shopping best suits them and so on.

<u>Market Entry</u>

Planning on how to enter the market is an important strategy in the plan for initial expansion. This could be achieved by acquiring another business and/or selling unique product/service.

(b) Factors to consider when pursuing the expansion strategy

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One must question whether your brand is recognized in the market or not and at what level is it recognized. Awareness of brand existence have increased significantly with the help of social media. However, the same could be said about the number of brands available in the market for a single good/service. Therefore, research must be conducted before expanding into new territories.

<u>Cultural Understanding</u>

Culture is different in each country and based on which different market strategies needs to be implemented for each country. Let's say you approach a country where language of the country is not known to your existing employees. Therefore, you may need to train them first before working in the country and this could amount to a significant cost. It's best  to start expansion in those countries where you have better cultural understanding.

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Answer:

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General administration is a powerful source of competitive advantage which consists of a number of activities, including general management, planning, finance, accounting, legal and government affairs, quality management, and information systems, it typically supports the entire value chain and not individual activities.

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