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lyudmila [28]
2 years ago
14

If the price level and the money wage rate rise by the same​ percentage, the quantity of real gdp supplied​ ______ and there is

a movement up along the​ ______ aggregate supply curve.
Business
1 answer:
Juliette [100K]2 years ago
4 0

<span>There is no change in the quantity of real GDP supplied and a movement occurs up along the</span> economy's supply schedule in the long‐run that is the Long-run Aggregate Supply (LAS) curve if the price level and the money wage rise by the same percentage.

 





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A fast-food restaurant serves hamburgers, cheeseburgers, and chicken sandwiches. The restaurant counts a cheeseburger as equival
konstantin123 [22]

Answer:

a. 14.13 Hamburger per week b. 13.78 Hamburger per week

Explanation:

a. First of all we can convert all the items on the menu to a same unit.

1 Cheese Burger = 1.29 Hamburger

1 Chicken Sandwich = 0.8 Hamburger

So in the first week total output of the restaurant is

Output = 700 Hamburger + 900 Cheeseburger + 500 Chicken Sandwich

or

Output = 700 Hamburger + 900*1.29 Hamburger + 500*0.8 Hamburger

Output = 2261 Hamburger

And as there are 4 workers so total input is

Input = 4*40 = 160 hours

The productivity is given by

Productivity = Output/Input

So

Productivity = 2261 Hamburgers/160 Hours

Productivity = 14.13 Hamburger per week

b. If the restaurant sold 720 of each sandwich, then total output would be given by

Output = 720 Hamburger + 720 Cheeseburger + 720 Chicken Sandwich

Output = 720 Hamburger + 720*1.29 Hamburger + 720*0.8 Hamburger

Output = 2204.8 Hamburger

So the productivity would have been

Productivity = 2204.8 Hamburgers/160 Hours

Productivity = 13.78 Hamburger per week

Which would have been lower as that of in the first case.

3 0
3 years ago
. As you start consuming potato chips, your marginal utility is very high, but it begins to fall slowly until you've eaten 10 ch
scoray [572]

Answer:

The correct answer is 10 chips.

Explanation:

A person is eating chips. Initially, the marginal utility is very high, but after 10 chips it starts declining. It declines till 49 chips and after that it becomes negative.  

We see that the marginal utility derived from the consumption of chips start to decline after consuming 10 chips.

This implies that marginal utility is being maximized at the consumption of 10 chips.  

So the utility-maximizing quantity of chips is 10 chips.

6 0
3 years ago
How can I start building my credit
vodka [1.7K]

Answer:

Use a credit card and pay off something each month.

For example, a spotify membership with a student discount is $5 a month, these monthly payments will help increase your credit.

Explanation:

4 0
3 years ago
Why is there an inherent conflict between planning and control uses of budgets?
IrinaVladis [17]

Answer:

The main conflict that results between planning and control use of budgets is that managers might place their own personal interests before the interests of the company. This might result in budgets that are easily achievable (resulting in bonuses) or shifting income from one period to another in order to achieve certain budgets that will result in bonuses.

I will use a real life example that happened to me to explain this. I worked as a B2B sales representative for a large corporation (we were only 2 B2B salespeople + 1 manager) and when sales were slowing down, upper management would set up bonuses for achieving certain sales goals. The problem was that intentionally certain large sales that required management's approval were delayed and total sales would fall. Then suddenly the bonus show sup and all the large sales were approved and in two weeks the sales goals were achieved. Since B2B sales are not about selling to a lot of customers, but instead selling to the right customers a lot of products, a couple of delayed big sales made a huge difference and a 1% bonus meant changing your old car for a new one.

3 0
3 years ago
A Whopper combo meal costs $3.00 and gives you an additional 15 units of utility; a meal at the Embassy Suites costs $29.00 and
Olenka [21]

Answer:

be indifferent between the two meals

Explanation:

Marginal utility is the additional satisfaction received from consuming an additional unit of a good or service. Marginal utility is the additional utility derived from consuming one more unit of a good. the consumption decision is to consume more units of a good that gives the higher utility per good.

Marginal utility per good = marginal utility / price of the good

Whopper combo meal = 15 / 3 = 5

a meal at the Embassy Suites = 145 / 29 = 5

both meals have the same marginal utility of 5. She would be indifferent between consuming the two meals

8 0
3 years ago
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