The consumer can derive a maximum total utility by consuming 3 units of product 'I', and 2 units of product 'M' in the given income of the consumer, which is $22.
<h3>What is total utility?</h3>
The total amount of satisfaction gained through consumption of the available products in the market by utilizing the total disposable income, is known as the total utility.
Hence, the significance of total utility to be derived by the consumer is given above.
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Answer:
A stock exchange does not own shares. Instead, it acts as a market where stock buyers connect with stock sellers. Stocks can be traded on one or more of several exchanges such as the New York Stock Exchange (NYSE) or the Nasdaq. Although you will most likely trade stocks through a broker, it is important to understand the relationship between exchanges and companies, and the ways in which the requirements of different exchanges protect investors.
Read on to find out more about some of the basics of the different kinds of exchanges where equities and other financial instruments are traded on a daily basis.
Explanation:
Answer:
An elastic demand or elastic supply is one in which the elasticity is greater than one, indicating a high responsiveness to changes in price. An inelastic demand or inelastic supply is one in which elasticity is less than one, indicating low responsiveness to price changes
Answer:
A
Explanation:
Exchange rate is the rate at which 1 unit of the base currency is exchanged for the foreign currency.
the equilibrium exchange rate is 0.18 real per peso. Thus the current exchange rate is selling at a higher rate than what is indicated by the equilibrium exchange rate .
This means that the peso (base currency) is buying more unit of the real (foreign currency) at the current exchange rate.
This means there is a shortage of the Pesos. The demand for Pesos exceeds it supply, thus exchange rate would rise. When there is a shortage, value of the currency rises
Answer:
The invention of Charles Babbage are
- Analytical Engine
and
2. Difference Engine
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