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JulijaS [17]
3 years ago
10

Emma bought an mp3 player and a portable dvd player. these products are called goods because

Business
1 answer:
miv72 [106K]3 years ago
6 0
Goods are things people want 
Hope this helps
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Jane receives utility from days spent traveling on va- cation domestically (D) and days spent traveling on vacation in a foreign
sammy [17]

Answer:

Explanation:

A point on U=800 is (5, 16)

From BL:

400*F+100D =4000

400*5+100*16 =3600<4000

Therefore u = 800 affordable.

U= 1200

F = 1200/10D

If D = 20

F = 1200/200

=6

Now from BL:

400*6+100*20= 2400+2000=4400>4000

Not affordable.

Maximization:

L = 10DF+ʎ[100*D+400*F – 4000]

Differentiating wrt D and F:

dL/dD = 10F + ʎ*100

dL/dF = 10D +ʎ*400

equating to zero;                      

ʎ= -F/10

ʎ=-D/40

equating the two:

F/10=D/40

D = 4F

From BL:

400*F+100*D = 4000

400F+100*4F = 4000

800F = 4000

F = 5

D = 4*5=20

7 0
3 years ago
A perfectly competitive firm initially is earning a normal profit. Then, a decrease in demand for the firm's product occurs. Of
Natali [406]

Answer:

Exit the market.

Explanation:

Suppose there are X firms in a competitive market and they are all making normal profits. If the demand for their products decreases, some of the firms will start to sell less, which will result in lower profits or even losses. In the long run, those firms that experience lower sales resulting in lower profits or losses, will exit the market. Once these firms exit the market, the quantity supplied should decrease, which will result in a price increase.

4 0
3 years ago
Which of these are considered capital resources?
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ujhiolijp;.lkophj;ibhjuihuiobj

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