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lara31 [8.8K]
1 year ago
9

Joshua is currently consuming the optimal (utility-maximizing) quantities of tuna and ham when the price of tuna suddenly decrea

ses. how will he respond to this price change?
Business
1 answer:
romanna [79]1 year ago
7 0

Joshua is currently consuming the optimal (utility-maximizing) quantities of tuna and ham when the price of tuna suddenly decreases. He will consume a bundle of goods at a new higher indifference curve tangent to the new budget constraint.

A Goods is an object that satisfies a human need and provides benefits to consumers and others who purchase satisfactory products. A distinction is generally made between transferable goods and non-transferable services.

Goods is the tangible item sold to the customer and service is the task performed for the benefit of the recipient. Examples of products include automobiles, appliances, and clothing. Examples of services include legal advice, house cleaning, and consulting his services.

Goods are anything from goods, supplies, raw materials to finished products. Anything that is movable and sold to a specific buyer.

Learn more about goods here:brainly.com/question/24373500

#SPJ4

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At the end of the year, a company reports a balance in its Allowance for Uncollectible Accounts of $1,700 (debit) before any yea
iren2701 [21]

Answer:

Bad debt expense $11,320   ($283,000 × 4%)

      To Allowance for doubtful debts $11,320

(being the bad debt expense is recorded)

Explanation:

The journal entry is shown below:

Bad debt expense $11,320   ($283,000 × 4%)

      To Allowance for doubtful debts $11,320

(being the bad debt expense is recorded)

For recording this given transaction, we debited the bad debt expense as it increases the expenses account and at the same time it decreases the account receivable so the allowance would be credited so that the proper posting could be done

7 0
3 years ago
In the summer of 2002, the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but i
Kisachek [45]

The answer is foreign currency fluctuations.

Foreign currency fluctuations are basically the change in the values of currencies based on the demand of that currency.

In other words, the more the number of investors invests in the stocks regulated by the stock market to buy exports of any country, the more will be the value of the currency of that particular country and vice versa.

Foreign currency fluctuation occurs for all floating currencies all over the world.

Since in the given case, the value of the euro changes from US$1 to US$1.60 from 2002 to 2008 respectively.

Hence, this change in value is called Foreign currency fluctuations.

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brainly.com/question/1245771

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8 0
2 years ago
A price floor is set at $1.00, what is the state of the market and amount of
AleksAgata [21]

Answer:

Explanation:

lol no

4 0
3 years ago
Suppose that because of a sudden increase in life expectancy, a lot of people decide to save more for what they expect to be a l
DanielleElmas [232]

Answer: d. shift the supply of loanable funds to the right causing the interest rate to fall.

Explanation:

Loanable funds come from the deposits(savings) that people make in financial institutions like banks. If more people were to make deposits, the amount of savings in the system would therefore increase.

To illustrate this increase the supply for loanable funds curve will shift to the right which will cause the interest rates to fall as there is now more supply relative to demand.

4 0
2 years ago
Given a home country and a foreign country, purchasing power parity suggests that: A. the home currency will depreciate if the c
lisabon 2012 [21]

Answer:

Option (C) is Correct.

Explanation:

There are two countries : Home country and Foreign country.

Purchasing power parity measures or compares the currencies of the two different nations by using a basket of goods approach.

It is calculated as follows:

= (cost of basket of goods in home currency) ÷ (Cost of same basket of goods in foreign country)

We know that if there is an increase in the rate of inflation in a home country then as a result there is a fall in the value of home currency. Higher inflation will lead to an increase in the prices of goods in the home country but prices remains the same in foreign country.

3 0
3 years ago
Read 2 more answers
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