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Irina18 [472]
3 years ago
9

Consumers may be equally happy consuming different goods, though they may need to substitute more of one product in place of eac

h unit removed of the other product. The principle that captures this is known as

Business
1 answer:
lawyer [7]3 years ago
7 0

Answer:

diminishing marginal rates of substitution.

Explanation:

Based on the information provided within the question it can be said that the principle that captures this is known as diminishing marginal rates of substitution. Like mentioned in the question this refers to the fact that a consumer chooses to replace a product instead of actually buying more. This decreases as you move down the indifference curve as shown below.

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A company’s production budget requires the following units of a single product for the upcoming year: 1st quarter 60,000 units 2
maks197457 [2]

Answer:

165,000 pounds

Explanation:

A Purchase Budget is required to determine the quantities and cost of purchases required for use in production.

Materials Purchase Budget for Second Quarter (Pounds)

Budgeted Production Materials (80,000 x 2)                    160,000

Add Budgeted Closing Materials (90,000 x 2 x 25%)        45,000

Total Materials                                                                     205,000

Less Budgeted Opening Materials (80,000 x 2 x 25%)    (40,000)

Budgeted Material Purchase (pounds)                               165,000

Therefore,

Budgeted purchases of material for the second quarter would be 165,000 pounds

8 0
3 years ago
Another name for the originator of a change plan is known as ________.
victus00 [196]
The answer to this question is a Change agent.

A change agent is a person that can be inside or from outside the company / organization that will help the company to change their processes and helps the organization to re-evaluate their day to day operations. A change agent also sees to it that the operations of the company will improve, develops, and become effective after the evaluation.
3 0
3 years ago
Following is selected financial information from General Mills, Inc., for its fiscal year ended May 29, 2016 ($ millions):
mojhsa [17]

Answer:

General Mills, Inc.

1. Income Statement for the fiscal year ended May 29, 2016:

Revenue                    $16,563.1

Cost of goods sold   $10,733.6

Gross profit                $5,829.5

Total expenses          $4,092.7

Net Income                 $1,736.8

2. General Mills, Inc. Balance Sheet for the fiscal year ended May 29, 2016:

Cash                             $763.7

Non-cash assets      20,948.6

Total assets             $21,712.3

Total liabilities          16,405.2

Stockholders' equity 5,307.1

Total Liab. + equity $21,712.3

3. General Mills, Inc. Statement of Cash Flows for the fiscal year ended May 29, 2016:

Cash from operating activities    $2,629.8

Cash from investing activities             93.4

Cash from financing activities*     (2,293.7)

Net Cash Flows                               $429.5

Cash, beginning year                        334.2

Cash, ending year                           $763.7

Explanation:

a) Interestly, General Mills, Inc.'s income statement shows the financial performance (profit points) of the company when revenue is compared with the cost of goods sold and the expenses.  The first profit point is the gross profit, which is the difference between revenue and cost of goods sold.   The second profit point is the net income, which is the difference between the gross profit and the expenses incurred for the period in running the business.

b) On the other hand, General Mills, Inc.'s balance sheet shows the financial position of the company.  They show what the business owns (assets) and what it owes (liabilities) outsiders and the owners of the company (equity).

c) While, General Mills, Inc.'s statement of cash flows shows the cash flows from operating, financing, and investing activities of the company, and the net cash flows for the period, which can be reconciled to the beginning cash to obtain the ending cash balance.

6 0
3 years ago
Suppose that there are no storage costs for crude oil and the interest rate for borrowing or lending is 5% per annum. How could
mario62 [17]

Answer:

$4.50

Explanation:

In order to make a profit from the futures contracts, it would be appropriate to take a long position in the  June futures contract(buy) and take a short position in the December futures contract.

The investor would borrow $60 today which would necessitate paying back $60 plus a half-year in interest payment.

loan repayment=$60*(1+5%/2)=$ 61.50  

In December, sell crude oil at $66 and repay the loan principal and interest

profit=$66-$61.50=$4.50

5 0
2 years ago
Which of the following statements is false?a. When properly used, either nonstatistical or statistical sampling can be effective
kramer

Answer:

C. Nonstatistical sampling may help avoid second guessing by regulators or jurors should those parties question the quality of the sampling method used.

7 0
3 years ago
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