1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olganol [36]
3 years ago
10

Josh's weekly budget for lunch is $24. He eats only pizza and burgers. Each pizza costs $6 and each burger costs $3. Josh knows

that 2 pizzas and 4 burgers will give him a utility of 8 units. He also knows that he gets equal marginal utility per dollar he spends at this level. What is Josh’s utility-maximizing point?
Business
1 answer:
egoroff_w [7]3 years ago
8 0

Answer:

The answer is: Josh's utility maximizing point is when he buys 2 pizzas and 4 burgers.

Explanation:

If Josh gets equal marginal utility per dollar spent when buying one pizza and 2 burgers, that means that every pizza and every burger give Josh 10.67 utility unit per dollar spent. So Josh can obtain maximum 16 units of utility with his budget and his purchasing options (= $24 x 0.67 units of utility per dollar). The way he can maximize his utility is by buying two packs of one pizza and two burgers per pack, since every pack will give him 8 units of utility.

You might be interested in
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 account of a customer,
saul85 [17]

Answer:

Explanation:

The journal entries are shown below:

On January 31

Allowance for doubtful accounts A/c Dr $800

         To Account receivable A/c $800

(Being the written off amount is recorded)

On January 31

Account receivable A/c Dr $300

           To Allowance for doubtful accounts A/c $300

(Being the reverse entry is made)

On March 9

Cash A/c Dr $300

      To Accounts receivable A/c $300

(Being the amount is collected)

7 0
3 years ago
The fingerprinting of a suspect is part of what process?
lianna [129]
The booking process.

I hope this helps and have a good night! :D
4 0
3 years ago
Exercise 12-04 a-b (Video) McGill and Smyth have capital balances on January 1 of $54,000 and $48,000, respectively. The partner
dezoksy [38]

Question Continuation

Complete the schedule showing the distribution of net income, assuming net income is $54,000

Answer:

McGill takes $31,540

Smyth takes $22,460

Total: $54,000

Explanation:

Salary Allowance

McGill: $19,000

Smyth: $14,000

Total Salary Allowance = $33,000

Interest Allowance

McGill: $54,000 x 10% = $5,400

Smyth: $48,000 x 10% = $4,800

Total Interest Allowance = $5400 + $4,800 = $10,200

Total salaries and interest

McGill =$24,400 ($19,000 + $5,400)

Smyth: $18,800 ($14,000 + $4,800)

Sum = $43,200

Remaining income

McGill = $10,200 x 70% = $7,140

Smyth: $10,200 x 30% = $3,060

Total division between McGill and Smyth

McGill takes $31,540

Smyth takes $22,460

Total: $54,000

5 0
3 years ago
There is a new shoe company called "Tim's Shoes" that sells via online including an app. Just put in your size, see the selectio
Dmitrij [34]

Answer:

Direct distribution

Explanation:

Direct distribution refers to a direct sales strategy where a company delivers its products directly to its costumers. This way the company avoids using intermediaries and retailers, and is able to either reduce distribution costs or increase profit margins.

8 0
2 years ago
Which housing option gives you more freedom and more responsibility?.
Vladimir [108]

Answer:

Owning housing option gives you more freedom and more responsibilities.

Explanation:

Owning a house has the following benefits:

• more freedom

• more responsibilities

• lower costs in long-term high appreciation value

Renting housing option factors are as

follows:

• less freedom

• less responsibilities

higher costs in long-term

• more flexibility

As per the above question,

6 0
2 years ago
Other questions:
  • Suppose i decide to divide students up in their respective majors in the college of business. i then ask 40 students from each m
    11·1 answer
  • Skullcandy makes headphones. For 2016 it plans to offer a new product line of wireless headsets to the marketplace. It planned o
    15·1 answer
  • Laura is a gourmet chef who runs a small catering business in a competitive industry. Laura specializes in making wedding cakes.
    11·1 answer
  • Auditory Company, which applies overhead to production on the basis of machine hours, reported the following data for the period
    5·1 answer
  • To increase the money​ supply, the FOMC directs the trading​ desk, located at the Federal Reserve Bank of New​ York, to A. sell
    12·1 answer
  • Which of the following best describes the goal of the firm?A) Maximizing the firm's profits.B) Maximizing the value of the firm'
    15·2 answers
  • What are the macro<br>environmental factors that affect a<br>firm​
    5·1 answer
  • Hey I was wondering if someone could make a study guide for my 7th grade final (I finished most of it.) I'll give lots of points
    10·2 answers
  • A common type of partnership that involves a managing partner and a financial partner is known as a(n):________
    12·1 answer
  • On December 15, Carboy, Inc., borrows $120,000 cash from Third National Bank at 9 percent annual interest. The note is due in 45
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!