All categories

3 years ago

g explain why a consumer will never choose to consume a combination of goods where their indifference curve is upward sloping.

Business

1 answer:

GarryVolchara [31]3 years ago

4 0

Answer:

The correct answer is: Because that action will violate the basic principles of the preferences of the consumers.

Explanation:

To begin with, the microeconomic theory, the consumers have preferences and to that preferences there are simple conditions and principles that have to be respected. Those conditions establish that a consumer have preferences that are "complete", "transitive" and that they prefer much more of a good product that less of that product. If a consumer will choose to consume a combination of goods where their indifference curve is upward sloping then the rules will be violate and that will not respect the logic of the economy's theory because it is stated that the indifference curves are convex.

You might be interested in

Which of the following is true of the Discount on Bonds Payable account? The bonds are due inten years.A) It is subtracted from

Aliun [14]

Answer:

A) It is subtracted from the Bonds Payable balance and shown with long-term liabilities on the balance sheet

Explanation:

The discount on Bonds payable, as their name implies, decrease the Bonds Payable carrying value. A bond with discounts, was issued at a lower price than his face value. The discount on bonds represent that difference.

It takes amortization while the time past, until at maturity, their balance is zero, to represent the reality, the obligation for the company is for the face value, so the carrying value of bonds payable should equal the face value.

Last, because the bonds are due in ten-year their place is the long-term liabilities. As their obligation are not within the 12 month period to qualify as short-term

8 0

3 years ago

Manuel, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals. Ma

kicyunya [14]

Answer: Effective Managers.

Explanation:

An effective manager is a manager that delivers successfully on tasks that he is in charge of and is very good in decision making. Manuel is well known for his ability to meet his objectives set and accurate decision making.

3 0

3 years ago

Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income stat

WARRIOR [948]

Answer;

Cost of goods manufactured = Cost of finished goods available for sale - Beginning inventory of finished goods.

Cost of goods sold = Cost of finished goods available for sale - Ending finished goods

a. Cost of goods manufactured = Cost of finished goods available for sale - Beginning inventory of finished goods.

331,000 = a - 64,900

a = 331,000 + 64,900

= $395,900

b. Cost of goods sold = Cost of goods manufactured - Ending finished goods

b = 395,900 - 76,800

= $319,800

c. Cost of goods manufactured = Cost of finished goods available for sale - Beginning inventory of finished goods.

c = 178,600 - 18,800

= $159,800

d. Cost of goods sold = Cost of finished goods available for sale - Ending finished goods

d = 178,600 - 37,500

= $141,100

e. Cost of goods manufactured = Cost of finished goods available for sale - Beginning inventory of finished goods.

65,800 = 103,400 - e

e = 103,400 - 65,800

= $37,600

f. Cost of goods sold = Cost of finished goods available for sale - Ending finished goods

- missing figure (ending finished goods).

7 0

3 years ago

Given below is a numbered list of cost terms. For each of the definition statements that follow, place the number of the cost te

leva [86]

Answer:

The correct answers are the following:

a - 4 Sunk

b - 5 Opportunity

c - 3 Fixed

d - 2 Variable

e - 6 Incremental

f - 1 Recurring

g - 7 Direct

h - 8 Non-recurring

Explanation:

a) Sunk costs are those that have already occurred in the past and they can not be recovered again so therefore that they are not relevant at the time of taking decisions regarding the futue.

b) Opportunity costs are those that try to measure and show the sacrifice done at the time of making a decision when that sacrifice represents the best second option that the person could have done.

c) Fixed costs are those that are always the same amount and do not change with the activity level of the production of the company.

d) Variable costs are those that do change with the amount of activity level that the company has during the production process.

e) Incremental costs are those that increase the cost level of the production while the output level increases as well, so they are a concept on the margin.

f) Recurring costs are those that tend to repete continously in the production process so the company already know how much the amount of the cost is.

g) Direct costs are those that the company associates with the production process regarding the commodities and all the primary sources that are needed to produce the good and therefore that they impact directly in the production and in the cost of the final product.

h) Non-recurring costs are those that the company are not familiar with due to the fact that they do not repete often and therefore tend to happen once in a while.

4 0

3 years ago

Rainey Enterprises loaned $40,000 to Small Co. on June 1, Year 1, for one year at 6 percent interest. Required Show the effects

MariettaO [177]

Explanation:

Cash flow is a statement which shows the amount of cash inflow and outflow of the company. With the help of the cash flow statement the company can determine its efficiency in managing the debt and credit in the company.

The operations of the company can be found with the CFS. The investors to the company can understand the position of the company with the cash flow statements. Financial strength of the company can be determined with cash flow statement.

7 0

3 years ago