Ask question

Ask question

All categories

3 years ago

14

A hungry man is willing to pay a high price for food. After he is no longer hungry, he is not willing to pay the smae high price

. Which of the following best defines this example?
a. a complement
b. diminishing marginal utility
c. unit elasticity
d. the substitution effect

1 answer:

zavuch27 [327]3 years ago

6 0

The correct answer is b

You might be interested in

A form of comparative analysis where customers show their opinions of another firm’s strengths vis-?-vis their competitors is a

Bezzdna [24]

The answer to this question is the term perceptual map. A pepceptual mapping is a technique used by marketers to visually map the customer's and possible customer's perception to a product versus to its competitor into a diagram. Perceptual mapping is also known as market maps. In perceptual mapping it also an analysis where the customers shows about an opinions of the competitors strenghts over them.

3 0

3 years ago

Haberdash inc. last year reported sales of $12 million and an inventory turnover ratio of 3. the company is now adopting a just-

Sindrei [870]

<span>Sales = $12,000,000</span>

<span> <span>Inventory Turnover ratio (old) = 3
</span><span>Inventory Turnover ratio (new) = 7.5
</span><span>Freed up Cash = ?
</span><span>So, let’s find out the freed up cash
<span> <span>We know level of inventory are calculated as follows;</span>
<span>Inventory = Sales Inventory turnover ratio</span>
<span>Calculating $ value of old inventory
<span> <span>Inventory Old=$12,000.0003
</span> <span><span> =</span>$7.5,000,000</span>
<span> Calculating $ value of New inventory
<span> <span>Inventory New=$12,000,0075
</span> <span><span> =</span>$3,000,000</span>
<span> <span>The freed up cash would be=Old Inventory – New Inventory</span>
<span> <span>=$7.5,000,000 - $3,000,000
</span><span>=<span>$4.5,000,000</span></span></span></span></span></span></span></span></span></span></span>

6 0

3 years ago

Read 2 more answers

Which option is best described as a complementary good for computer hard drives?

Nutka1998 [239]

Answer: Computer monitor

Explanation:

A complementary good is a good that's used together with another good. A good example of a complementary good is a car and petrol since they are used together.

A complementary good for computer hard drives would be the computer monitor. The monitor simply looks like a television and it helps in showing the information which is being displayed.

8 0

3 years ago

On August 1, 1958, first-class postage for a 1-ounce envelope was 4 cents. On August 1, 2007, a first-class stamp for the same e

Andrej [43]

Answer:

4.86%

Explanation:

Given that,

First-class postage for a 1-ounce envelope = 4 cents

On August 1, 2007

A first-class stamp for the same envelope cost = 41 cents

Period, n = 49 years

$F=P(1+i)^{n}$

$41=P(1+i)^{49}$

$\frac{41}{4}=(1+i)^{49}$

$10.25\ cents=(1+i)^{49}$

$1.0486=(1+i)$

i = 1.0486 - 1

= 0.0486 or 4.86%

Therefore, the interest rate is 4.86%.

3 0

3 years ago

Major activities of the Planning Section include:

FrozenT [24]

<u>Answer</u>:

Major activities of the Planning Section include: D) Preparing and documenting Incident Action Plans.

<u>Explanation</u>:

The Planning section is responsible for various activities carried out in Incident Command System or ICS. ICS is used to respond to emergencies in the United States. The activities that befall under this section are mostly related to plannings.

These activities are: collecting and evaluating information, preparing and maintaining documents of incidents, etc. Preparing and maintaining the incident documents is an essential task and requires accuracy in representing the facts and figures. Hence, we can say that D is the only activity in the planning section of the ICS.

6 0

3 years ago