The Federal Reserve System is the central bank of the United States. It was made to provide the nation with a safer, more flexible, and more stable monetary and financial system. Hope this answers the question. Have a nice day. Feel free to ask more questions.
Answer:
C) 38,000
Explanation:
The estimated warranty liability for 2017:
= [2016 sales x (first + second year warranty costs)] + [2017 sales x (first + second year warranty costs)] - (warranty expenses for 2016 and 2017)
= [$600,000 x (2% + 5%)] + [$800,000 x (2% + 5%)] - ($20,000 + $40,000)
= $42,000 + $56,000 - $60,000 = $38,000
Answer:
D. $162
Explanation:
We know,
Using high-low method, variable cost per unit = (Highest maintenance expense - Lowest maintenance expense) / (Highest machine hours - Lowest machine hours)
Given,
Highest maintenance expense = $4,360
Lowest maintenance expense = $2,950
Highest machine hours = 2,500 hours
Lowest machine hours = 1,660 hours
Therefore,
Variable cost per unit = $(4360 - 2950)/(2500 - 1660)
Variable cost per unit = 1410/840 = 1.68
Total Fixed cost using lowest machine hours =
Total cost - (variable cost per unit x least machine hours)
= 2,950 - (1.68*1,660)
= $162
The correct answer is D) All of these scenarios demonstrate decreasing marginal utility.
The scenario that demonstrates decreasing marginal utility is the three mentioned above.
The principle of diminishing marginal utility states that the additional utility a consumer receives from an additional unit of a good or service decreases as consumption of it increases. So that is the case of example number one when you are grateful that you have your air conditioning while you are outside on the streets under the sunshine, but when you get back home, after cooling down, you feel like normal, and do not appreciate that so much or maybe you start questioning if the air conditioning bill and power bill are too much.
The same in the case of Beth and the second or third pillow, she doesn't enjoy them too much and thinks that the third one was unnecessary. Or James at the buffet. It is all you can eat but his dish is half empty.
