According to the text, which kind of practice makes perfect?

2 answers:

8 0

According to the text, the kind of practice that makes perfect is <u>correct.
</u>If you do everything correctly, and then repeat it over and over again in the same fashion, you are likely to become better and better at it. It is very important that what you do is done correctly, so as not to pick up habits which are not suitable for you and are not what they should look like.<u>
</u>

dimaraw [331]3 years ago

7 0

Perfect practice make perfect

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When the price of a good rises, consumers tend to purchase less of it and buy a relatively less expensive good. This behavior cr

Anna35 [415]

Answer:substitution

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when the price of a product in the consumer basket increases substantially, consumers tend to substitute lower-priced alternatives.

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What is the unemployment rate if the GDP gap is 13.5%?

goldenfox [79]

The answer is: 6.25%

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3 years ago

George bought a car for $26,500. he made no down-payment and financed the entire amount on a 5-year term with a monthly payment

pentagon [3]

Given:
Principal, P = 26500
term=5 years
Monthly payment, A = 695

Question: Find interest rate

Solution:
Unless there is a table available, there is no explicit formula to calculate interest. However, the interest rate can be solved for using the formula to calculate the monthly payment, as follows.

$A=\frac{P(i*(1+i)^{n})}{(1+i)^{n}-1}$
Substituting
P=26500
i=monthly interest rate to be found
A=monthly payment=695
n=5*12=60 months
$A=\frac{26500(i*(1+i)^{60})}{(1+i)^{60}-1}$
Rearrange to give successive estimates of i by
I(i)=(695/26500)*((1+i)^60-1)/(1+i)^60
Try initial estimate of i=0.02 (2% per month)
I(0.02)=0.0182
I(0.0182)=0.01736
I(0.01736)=0.01689
....
Eventually we get the value to stabilize at i=0.016265, or
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2 years ago

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2 years ago

To maximize utility, a consumer should allocate money income so that the Multiple ChoiceA) elasticity of demand on all products

ikadub [295]

Answer:

D) Marginal utility of the last unit of each product consumed is the same.

Explanation:

To maximize utility with a given income constraint, a consumer must chose products to maximize utility. This can be done so that each extra dollar, which is the marginal income, spent on each of these products yields the equal marginal utility. For example if one product yields more marginal utility per marginal dollar spent, the consumer should reallocate their income so they consume more of this product and less of others, so much so that the utility derived from this product equals utility derived from other products.

Utility is maximized when these marginal utilities per marginal dollar spent coincide.

Hope that helps.

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3 years ago