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Vera_Pavlovna [14]
3 years ago
7

Hector would like to buy a new pair of soccer cleats. Hector prefers Adidas to Puma brand soccer cleats. But Hector chooses to b

uy the Puma brand cleats instead. Which of the following reasons for Hector’s choice is consistent with rational consumer choice?
a. The price of Puma brand soccer cleats was less than the price of Adidas brand soccer cleats.
b. The price of Adidas brand soccer cleats was less than the price of Puma brand soccer cleats.
c. Hector could not afford to buy both pairs of soccer cleats.
d. Hector did not know his preferences between the two brands of soccer cleats.
Business
1 answer:
oksano4ka [1.4K]3 years ago
3 0

Answer: Option (A) is correct.

Explanation:

It was given that consumer prefers Adidas to puma brand soccer cleats but he buys puma brand soccer cleats. This is only because of the price theory and rational consumer choice. We know that a rational consumer will choose a product with a lower price. Both puma and Adidas brand soccer cleats are substitutes, thus, if the price of puma cleats is lower than the Adidas cleats then he should prefer puma brand soccer cleats.

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Assume for Guatemala that the domestic price of coffee without international trade is higher than the world price of coffee. Thi
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Answer:

other countries have a comparative advantage over Guatemala in the production of coffee, and Guatemala will import coffee. 

Explanation:

This question is incomplete. Please check the attached image for a complete question.

A country has comparative advantage in the production of a good or service If it produces the good or service at a lower opportunity cost when compared to its trading partners.

The price of Guatemala's coffee is higher when compared to the world price of coffee without international trade. It shows that Guatemala doesn't have a comparative advantage in the production of coffee. Guatemala should stop producing coffee and import instead. This would enable Guatemala focus more resocurces on the production of good for which it has comparative advantage.

I hope my answer helps you

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3 years ago
What would you call a object that makes people shut up
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some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these coun
max2010maxim [7]

Some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these countries have a freely convertible currency.

Currency is the unit of price of money that is agreed upon by the government and its people in a country. A country has its own currency, although there are several countries that have the same type of currency. For example, in Indonesia, the currency is Rupiah, while in Japan the currency is Yen. Meanwhile, countries that use the same currency include America, Ecuador, Cambodia, Panama, and the British Indian Ocean Region.

In addition, currency can also be defined as a medium of exchange for goods and services. The party or institution that has the absolute right to issue currency is the government and its central bank.

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1 year ago
The scientific method begins with
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C, The identification of a problem for investigation

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3 years ago
Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the
QveST [7]

Answer:

total equivalent units for materials = 6,310

Explanation:

700 units in beginning work in process:

  • materials: 70% complete, $8,700, completed 490 equivalent units, not completed 210 units
  • conversion: 10% complete, $3,700

units started in to production 6,400

units transferred out 5,600

ending work in process 1,500

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conversion costs added $269,600

equivalent units for materials:

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