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UNO [17]
3 years ago
7

Suppose there are only two types of goods to consume: food and leisure. An average Californian citizen has a daily income of $10

0. The price of one meal of food is $20 and the price (or value) of one unit of leisure is $10. An average citizen in Mississippi has a daily income of $50. The price of one unit of food is $10 and the price (or value) of one unit of leisure is $10. Who is more well-off in terms of the bundles of goods they can consume? (hint: draw budget sets.)
Business
1 answer:
Juliette [100K]3 years ago
8 0

Answer:

Californian citizen

Explanation:

For a Californian citizen, the maximum number of meals and units of leisure they could possibly acquire per day are:

M_C = \frac{\$100}{\$20} =5\\L_C = \frac{\$100}{\$10} =10

For a Mississippi citizen, the maximum number of meals and units of leisure they could possibly acquire per day are:

M_M = \frac{\$50}{\$10} =5\\L_M = \frac{\$50}{\$10} =5

Both citizens can acquire the same number of meals, but the Californian citizen can acquire twice as many units of leisure than the Mississippi citizen. Therefore, the Californian citizen is more well-off in terms of the bundles of goods they can consume.

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Best Mobile and Turbo Tech Inc. are two competitors in the mobile phone market. The cost incurred by each company to manufacture
crimeas [40]

Answer:

Turbo Tech has been able to offer more perceived value than Best Mobile

Explanation:

Turbo Tech has managed to market itself as a superior brand compared to Best Mobile. Through aggressive marketing, Turbo has convinced the industry that it is better than Best mobile.

Marketing is about creating brand perception. If customers agree with your arguments, the brand gains an advantage in the market. Perception is not reality. These two competitors have the same unit cost and market price. It could mean that their quality is also on the same level.

Turbo Tech has a better martketing strategy than Best Mobile.

7 0
2 years ago
If supply is price-inelastic and demand is price-elastic, then the firm can earn positive profits by increasing the price.
strojnjashka [21]
I think it might be true in my opinion
8 0
3 years ago
The homeowner's property tax exemption will reduce an assessed valuation of $200,000 to:____.
inessss [21]

As per the rate of the tax, the valuation of $200,000 will become $193,000.

Given Data:

Valuation Price = $200,000

To Find:

After-Tax exemption Valuation= ?

Let us consider the general interest rate of the property. It would be about 3.5% which is 0.035.

According to the normal tax of about 3.5% will become $7000 which will be exempted from the total evaluation therefore it will become $193,000.

Solution:

<em>Tax Value in $ =$200,000 x 3.5% = $7000</em>

<em>here we have the $7000 which is the amount of tax paid by the homeowner.</em>

Putting the value of the tax;

<em>Tax after exemption of tax value = $200,000-$7000 </em>

<em>= $193,000</em>

So, the $193,000 is the price after the deduction of tax by the homeowner.

For more questions like Home tax evaluation open the link below:

brainly.com/question/17132518

#SPJ4

3 0
1 year ago
Dobles Corporation has provided the following data from its activity-based costing system: The Assembly Cost Pool has a total co
Harrizon [31]

Answer:

A.  

$95.34 per unit

Explanation:

activity cost pool     total cost(a)       total activity(b)        activity rate

assembly                  $228060         180000 hours             $12.67

processing oders       $34068             1200 orders             $28.39

inspection                   $125560           1720 hours                 $73.00

Cost per activity is obtained by dividing total cost for each activity pool with its respective total activity. Cost per activity is helpful to identify the total cost allocated to each activity.

particulars               expected activity         per activity rate    total cost

assembly                  460 hours                     $12.67                  $5828.20

processing orders    80 orders                      $28.39                 $2271.20

inspection                   10 hours                       $73.00                  $730.00

manufacturing overhead                                                            $8829.40

Manufacturing overhead is the other costs that are neither direct material cost and nor direct labor cost. Here we add the total cost incurred in each cost pool to arrive at manufacturing overhead of $8,829.40. The manufacturing overhead incurred is allocated to each cost pool as per the activity and per activity rate.

manufacturing overhead per unit = manufacturing overhead/total units produced

= $8829.40/420

= $21.02

product cost per unit = direct material per unit + direct labor per unit + manufacturing overhead cost per unit

                                    = $48.96 + $25.36 + $21.02

                                    = $95.34

Therefore, the unit product cost of product D28K is closest to $95.34

8 0
2 years ago
The 10-year bond of Crown Electronics is selling at $960 each. The bond has a coupon rate of 8% and par value of $1,000. The fir
stich3 [128]

Answer: 5.36%

Explanation:

The after-tax cost of debt refers to the interest that is paid on debt which is then less the income tax savings as a result of the deductible interest expenses.

When calculating the after-tax cost of debt, the effective tax rate of a company should be subtracted from 1, after which the difference will be multiplied by the cost of debt. This will therefore be:

= Rate (10,8% × 1000, -960 + 20, 1000) × (1-40%)

=5.36%

6 0
2 years ago
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