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lesya692 [45]
3 years ago
9

Elkhorn Company purchased merchandise on account from Springhill Company for $42,000, terms 2/10, n/30. Elkhorn returned merchan

dise with an invoice amount of $8,000 and received full credit.a. If Elkhorn Company pays the invoice within the discount period, what is the amount of cash required for the payment?
b. What account is debited by Elkhorn Company to record the return?
Business
1 answer:
Vanyuwa [196]3 years ago
6 0

Answer:idk

Explanation:

idk

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Ken consumes two goods, Sprite and potato chips. Sprite costs $1 per can, and he consumes it to the point where the marginal uti
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Answer:

The correct option is c. $8.

Explanation:

Ken will maximize utility where the following equation holds:

MU of Sprite / Price of Sprite = MU of potato chips / Price of potato chips ................. (1)

Where;

MU of Sprite = Marginal utility of Sprite = 3

Price of Sprite = $1 per can

From the table in the question, equation (1) holds at the point where Marginal utility of potato chips is 6 since the Potato chips cost $2 per bag.

Substituting the values into equation (1), we have:

MU of Sprite / Price of Sprite = MU of potato chips / Price of potato chips => 3 / 1 = 6 / 2 = 3

Since when the marginal utility of potato chips that maximizes utility is 6, Ken consumes 4 Bags of Potato chips monthly and pays $2 per bag at this point, the amount he spends on potato chips each month can be calculated as follows:

Amount spent on potato monthly = Number of bags of Potato chips consumed monthly * Cost of potato chips per bag = 4 * $2 = $8

Therefore, the correct option is c. $8.

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Learn more about building materials here brainly.com/question/9779427

#SPJ4

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