Answer:
$210
Explanation:
Given:
Total budget = $1,685
Amount spent on small improvements = $425
The budget left after spending on small improvements
= Total budget - Amount spent on small improvements
= $1,685 - $425
= $1,260
Now,
the budget left is the maximum budget for the all 6 interior doors
Thus,
6 × max budget for single door = $1,260
or
Max budget for single door = $210
Answer:
The correct answer is option D.
Explanation:
The law of diminishing marginal utility says that keeping other things constant, marginal utility derived from the consumption of a good will keep on declining with each additional unit consumed by the consumer.
The diminishing marginal utility is not applicable for comparison between two consumers or two goods. It is applied to consumption of a single good by an individual consumer.
The utility or satisfaction derived from a good is supposed to decline not increase with increase in quantity.
So, option D is the correct answer.
Answer:
The correct option is D, savings of $12000
Explanation:
The first year financial impact of hiring outside company for grounds maintenance can be calculated by examining relevant costs for both alternatives.
Relevant costs to the University of handling the maintenance is given as;
Salary of full-time gardeners $295,000
Plant materials $80000
Fertilizer $9000
Fuel <u>$8000</u>
Total relevant costs <u>$392000</u>
The relevant costs of outsourcing the services is given below:
Mackin services $410000
Proceeds from disposal of equipment (<u>$30000)</u>
Relevant costs <u> $380000</u>
The savings by choosing the latter is $12000( $392000-$380000)
Please note the cost of equipment is not a relevant cost as it is a sunk cost.
When the economy is hit with a supply shock, especially if it is something as important as the oil, and its price doubles or triples, than the whole economy will suffer.
The reason for that is that the oil (since we took it as example) is not influencing only the people and the companies that use as fuel, but it affects the prices of pretty much all products. Such an increase in the price will result in much bigger expenditure by the production facilities. The transportation companies will also have much increased expenses. And that will result in a much increased price in most of the products. That will hit the people very hard on their pockets, as they will come in a situation where their wages are the same as they were, but the prices of everything went significantly up in no time.