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zavuch27 [327]
3 years ago
7

Jon enjoys fishing (which costs $20) and golf (which costs $30). last month, jon fished four times and golfed twice. the last fi

shing outing provided jon a marginal utility of 50, and the last round of golf provided a marginal utility of 120. did jon maximize his utility according to the utility maximization rule?
Business
1 answer:
Gennadij [26K]3 years ago
6 0
He did maximize the utility <span>according to the utility maximization rule</span>.

You might be interested in
As a businessperson planning to open a new small business, you know that the business plan should not contain
lana66690 [7]

Answer:

Pages and pages of detailed facts and figures

Explanation:

Endless pages of detailed fact and figures are not necessary for a new small business a concise and financial information should suffice.

There are three primary parts to a business plan:

The first is the business concept, where you discuss the ibusiness you are in to, your business structure, your particular product or service, and how you plan to make your business a success.

The second is the marketplace section, in which you describe and analyze potential customers (target market): who and where they are, what makes them buy and so on. Your unique niche and selling point Here, you also describe the competition and how you'll position yourself to beat it.

The financial section contains your income and cash flow statement, balance sheet and other financial ratios, such as break-even analyses. This part may require help from your accountant and a good spreadsheet software program.

3 0
3 years ago
McCoy’s Fish House purchases a tract of land and an existing building for $910,000. The company plans to remove the old building
Nina [5.8K]

Answer: $972,900

Explanation:

The cost of land consists of the actual purchase price, and all other expenses that are necessary to make the asset ready for its intended use. In terms of land, all these expenditures can include title fees, unpaid taxes from previous years only (i.e. not current taxes), and other expenses need to physically prepare the land for use. The current taxes figure of $4,600 is not included here, as it is only owed during the current year, therefore normal accounting rules for taxes will apply. This figure will thus be treated as a liability until it is paid. The back taxes were aqcuired when the asset was aqcuired, and thus form part of the cost.

Old buildings that were on the land, may need to be teared down so that land can be utilised. The costs used to demolish the building also forms part of the purchase price. On top of that, to fully prepare the land for use the land may need to be landscaped and leveled. All these costs contribute towards getting the land ready for use, and are thus included in the cost. Sales made on any item related to the land, during the process when the land was still being processed for its intended use, will reduce the cost of the asset, and deduct this figure. This figure will fall under sales, which is an income to the business. The full calculation of the cost is as follows:

Purchase price: $910,000

Title insurance: + $2,400

Unpaid property taxes: + $8,300

Cost of removing building: + $45,900

Sale of salvaged materials: - $4,000

Level the land: + $10,300

Cost of land: = $972,900

3 0
3 years ago
An industry is composed of 10 firms, all with equal sales (e.g. firm 1 sales are 10% of the market, firm 2 sales are 10% of the
Gelneren [198K]

Answer:

0.40

Explanation:

The four firm concentration ratio = 10%+ 10% + 10% + 10% = 40% =0.40

I hope my answer helps you

5 0
3 years ago
In practice, a common way to value a share of stock when a company pays dividends is to value the dividends over the next five y
svlad2 [7]

Answer:

Stock Price in 5 years: $97.94. Stock Price Today: $55.575

Explanation:

A pay-out ratio is computed by dividing dividends per share over earnings per share. Meanwhile, PE or Price-Earnings Ratio is computed by dividing the market value of stocks over earnings per share. Thus, using the pay-out ratio formula, the earnings per share is 2.925 ($1.17/40%) and using the PE ratio formula, the market price of stocks today is $55.575 (19 x 2.925). After 5 years, multiplying 1.17 and 12% rate raised to the 5th power, the dividend will amount to $5.1548. Using pay-out ratio, earnings per share is 5.1548 ($2.0619/40%) and the market price of stock after 5 years is $97.94 ($5.1548 x 19).

3 0
3 years ago
Why does a bank sometimes hold excess reserves?
svetoff [14.1K]
The answer is d: to protect against high prices
6 0
3 years ago
Read 2 more answers
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