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bogdanovich [222]
3 years ago
7

Jessica spends all her income on two goods, A and B. The price of A is $5, and the price of B is $7. At the current consumption

bundle, the marginal utility of A is 10, and the marginal utility of B is 21. To maximize utility given her income, Jessica should:_____________
Business
1 answer:
masha68 [24]3 years ago
5 0

Answer:

Jessica should consume more of good A.

Explanation:

Jessica spends all her income on two goods, A and B.

The price of A is $5, and the price of B is $7.

At the current consumption bundle, the marginal utility of A is 10, and the marginal utility of B is 21.

The total utility is maximized when the ratio of marginal utility and price of the goods consumed is equal for all the goods in the bundle.

The ratio for Good A

= \frac{10}{5}

= 2

The ratio for good B

= \frac{21}{7}

= 3

Since the ratio is higher for good B, the consumer should shift from consumption of good B to good A until the ratio is equal for both the goods.

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The variance of a sample of 121 observations equals 441. The standard deviation of the sample equals 1.91. 231. 21. 11.
Cloud [144]

The standard deviation of sample equals: 11

Explanation:

Given:

                                 variance of sample (S^{2}) = 121

                                 no, of observations made = 441

                                         standard deviation = ?

By using the formula:

                          Standard deviation (S) = \sqrt{variance}

                                                                 = \sqrt{S}

                                                                 = \sqrt{121}

                                                                 = 11

Hence the standard deviation is equal to 11.

 

6 0
3 years ago
If materials were added at the beginning of the process, how many equivalent units of production for conversion costs would ther
Xelga [282]

Answer:

C.105,500 units

Explanation:

Equivalent unit of production is the quantity of work done in the manufacturing / production department. It also includes the completed percentage portion of the units in work in process.

Units complete and transferred = Beginning units + Additions - uncompleted units = 10,000 units + 100,0000 units - 15,000 units = 95,000 units

Equivalent Units = Units complete and transferred + ( Closing units x percentage completion )

Equivalent Units = 95,000 + ( 15,000 x 70% )

Equivalent Units = 95,000 + 10,500

Equivalent Units = 105,500

4 0
2 years ago
Shortly after you purchase the laptop, you receive your first credit card bill and forget to pay it, because it’s a new responsi
Anvisha [2.4K]

Answer and explanation:

<em>Forgetting to pay debts has a detrimental effect on the length and interest payment of a loan</em>. The more a consumer falls behind in the repayment of a debt the longer it will take to pay off the total amount owed. Besides, the interest rate is recalculated by the financial institution implying more interest will be paid.

Therefore, forgetting to pay debts must be avoided. <em>Setting automated payments is a good measure to avoid such circumstances.</em>

8 0
3 years ago
The top management of a cereal manufacturing company wants to change the packaging of their products and appeal to attract a you
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5 0
3 years ago
2. Assume the cost object is the Manufacturing Department and that its total output is 15,500 units. a. How much total manufactu
tigry1 [53]

Answer:

There are three stages of assignment of costs to each product and these are as under:

  1. Allocation
  2. Apportionment
  3. Absorption / Activity Based costing

So this question relates to stage one. Suppose the following situation:

There are 2 departments and they have following expenses

Department A has a supervisor whose annual salary is $30000

Department B has a worker whose annual salary is $22000

Department A & B have shared a rented property for there operations.

Department A and B also shares electricity bills and annual electricity charges stand almost $80,000

Now the directly attributable / traceable cost to Department A are those that are hundred percent related to Department A. In this example, we saw that supervisor salary is the only cost that is hundred percent related to Department A. Likewise Worker's salary is also relateable to Department B. Whereas the rental cost and electricity bills are not directly attributable to these departments. So this means the manufacturing costs that are directly traceable are those that hundred percent relates to the manufacturing departments.

5 0
3 years ago
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