Answer:
The number of CDs = 111.36
The number of movie videos = 242.72
N/B: I choose not to round up the answers.
Explanation:
The method used is the Lagrangian method. Basically, the optimization problem we are trying to solve is the utility function 
subject to the constraint
.
So the optimization problem(Lagrangian) is
,
where 
is a constant called the Lagrange multiplier.
To find the optimal consumption, we need to maximize the Lagrangian with respect to the variables 
. This we do by differentiating 
with respect to each variable and then equate to 0.
Equate (1) and (2), to get 
and substitute into (3) to get 
. Substituting into 
to get the corresponding value of 
.
Answer:
Materials quantity variance = $1,750(U)
Explanation:
Standard quantity(SQ) = $2.5 * 6600 = 16500 Kg
Standard Price( SP) = $5
Actual quantity(AQ) = 16,850 Kg
Actual Price( AP) = $90,720 / 18,900 kg = $4.8
Materials quantity variance = SP * (SQ - AQ)
Materials quantity variance = 5 * ( 16500 - 16,850 )
Materials quantity variance = 5 * (350)
Materials quantity variance = $1,750(U)
Answer:
d There are gains from trade.
Explanation:
A trade can be defined as the process that typically involves the buying and selling of goods and services between a buyer (consumer) and a seller (producer).
Thus, trade creates an enabling environment that suits a specific service provider or producer of a particular product.
Basically, the interaction of individual choices underlies the fact that there are gains from trade.
This ultimately implies that, as a result of the difference between human needs and wants, there is always an opportunity for various producers to manufacture goods and services to meet the needs or requirements of these customers.
Inflation is the situation money is losses some of its value due to general process levels rises in the economy.
- Hence it can be best be defined as the increase in the amount of money and credit in the economy related to the supply of services and goods.
- Thus its an upward, general trend of prices in the economy. Hence the option D is correct.
Learn more about the best described as.
brainly.com/question/15588968.
Answer:
The correct answer is letter "B": increase; decrease.
Explanation:
Producer surplus is the difference between the price at which the manufacturer actually sells a product and the minimum price the manufacturer would have accepted. The surplus results from the producer being able to sell their goods at a market price higher than their minimum price.
So, <em>if producer A manufactures a product that is being sold at a higher price level abroad, its producer surplus will </em><u><em>increase</em></u><em>. However, the overall economic surplus with trade will </em><u><em>decrease</em></u><em> since the introduction to producer A to the market will allow consumers to purchase the goods at a lower price</em>.
