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Sliva [168]
11 months ago
6

Jonas purchases only two goods, starfruit (s) and kiwi (k). he has an income of $60 and can buy starfruit at $2 per pound and ki

wi at $3 per pound. his utility function is:_________-
Business
1 answer:
GrogVix [38]11 months ago
6 0

The Utility Function Shows That S and K can be used interchangeably, according to the utility function, and only one of them is really consumed.

  • Utility in economics refers to the pleasure or happiness that customers derive from using an item or service. Consumer preferences for a variety of products and services are gauged by the utility function.

<u>CALCULATION</u>

Although the benefit or happiness that customers experience is calculated in units called utils

  • MPs / MPk = 3/4 = 0.75 for MRS.
  • Ps / Pk= 2 / 3 = 0.67
  • MRS > Ps/Pk,

Hence only S will be employed.

'Starfruit' = 60 / 2 = '30

Kiwi = 0

To Learn more about Utility Function, Click the links.

brainly.com/question/21326461

brainly.com/question/25077729

#SPJ4

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Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respec
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Answer:

b. $290,000

Explanation:

The computation of the cash flows from operating activities to be reported on the statement of cash flows is shown below:

= Net income reported on the income statement + decrease in account receivable

where,

Net income reported = $280,000

And, the decrease in account receivable is $10,000 ($70,000 - $80,000)

So, the cash flow from operating activities

= $280,000 + $10,000

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The decrease in account receivable implies that more cash is come so it would be added and the same is shown above

5 0
3 years ago
Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Set
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Answer:

The total amount of interest paid on all three loans is 8,748.

Explanation:

Each person has borrowed 5,000 for the same period and with the same interest rate. However, the repayment is made differently by each person.

We calculate the interest paid by each person, and then sum up the three interest payments.

Seth pays = [5000 x (1 + 0.12/2)^10] - 5000 = 3,954

Janice pays = 5,000 X 0.06 x 10 = 3,000

Lori pays = [(5,000 x 10) / 7.36] - 5,000 = 1,794

Total interest payment = 3,954 + 3,000 + 1,794 = 8,748  

3 0
3 years ago
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Andrew paid $30 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet. He was willing to pay $45. When Andrew
irinina [24]

Answer:

The total surplus from Andrew's sale to Nick is $35.

Explanation:

The total surplus is the sum of producer surplus and consumer surplus.

The consumer surplus is the difference between the maximum price a consumer is willing to pay for a product and the price he/she actually has to pay.

While producer surplus is the difference between the minimum price a producer is willing to accept for a product and the price he/she actually gets.

Consumer surplus for Nick

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= $20

Producer surplus for Andrew

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= $15

Total surplus from generated from Andrew's sale to Nick

= $20 + $15

= $35

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