Answer:
The relative price of steak has increased, so David would be expected to purchase less.4/5 = 0.86/7 = 0.860.86 > 0.8D.
A rational choice is made by comparing marginal benefit and marginal cost
<h3>What is
marginal cost?</h3>
The marginal cost in economics is the change in total cost that occurs when the amount produced is increased, or the cost of producing more quantity.
The law of declining marginal utility asserts in economics that the marginal usefulness of a good or service decreases as an individual consumes more of it. Consuming incremental amounts of a good provides less and less satisfaction to economic agents.
Marginal cost is an important concept in economic theory because a corporation seeking to maximize profits will produce until marginal cost (MC) equals marginal revenue (MR) (MR). After then, the cost of creating an additional item will outweigh the money generated.
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I don’t know help me with my homework
Answer:
I think it would false hope this helps
The journal entry to record the purchase of materials on account in process cost accounting is an Increase in assets and an increase in liabilities. Option A. This is further explained below.
<h3>What is a journal entry?</h3>
Generally, In process cost accounting, a rise in assets and an increase in liabilities are recorded in the journal entry for the purchase of materials on account.
In conclusion, A journal entry is a kind of entry that is used in the accounting records of a company to record a transaction that occurred inside the company.
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