Answer: 3
Explanation:
The marginal rate of substitution simply means the rate at which one good will be exchanged for another good based on the current market price.
Since you like servants three times as much as robots, this implies that the utility that one gets from one servant is exactly like the utility that will be gotten from three robots.
Therefore, the utility function will be:
U = 3X + Y
Then, the marginal rate of substitution will be:
= MUX/MUY
= 3
Answer:
$90,400
Explanation:
Mondale Winery depreciates it's equipment by making use of the group method.
The cost of equipment that was purchased in 2021 totaled $565,000
The residual value of the equipment was $54,000
The group depreciation rate is 16%
= 16/100
= 0.16
Therefore, the annual depreciation can be calculated as follows
Annual depreciation= Cost of equipment × Group depreciation rate
= $565,000×0.16
= $90,400
Hence the annual depreciation for the group is $90,400
Answer: Mutual funds
Explanation: Mutual fund is a pool of securities in which the assets are purchased by procuring fund from several different investors. Mutual funds includes different type of securities so that diversification benefits could be taken. These are generally managed by investment professionals.
Generally mutual funds include stock, bonds and debt. Thus, an investor seeking diversified portfolio can seek for mutual funds.
Answer:
Debit Office Furniture account $710
Credit Cash account $170
Credit Accounts payable $710
Being entries to recognize office furniture partly paid for.
Explanation:
When items are purchased using cash, the corresponding credits in such transactions are recorded in the cash account. Where the item is purchased on account (or credit), the credit is posted to accounts payable.
Total worth of the office furniture = $170 + $540 = $710
The total debit for this will be recorded in the office furniture account.
Hence to recognize the transaction,
Debit Office Furniture account $710
Credit Cash account $170
Credit Accounts payable $710
Being entries to recognize office furniture partly paid for.
