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Fudgin [204]
3 years ago
11

Michael is maximizing utility by consuming three colas at $3 a piece and four hot dogs. The last cola gave him 300 units of util

ity, and the last hot dog gave him 500 units of utility. The price of each hot dog is: A. $4.00. B. $3.00. C. $5.00. D. $2.50.
Business
1 answer:
marusya05 [52]3 years ago
5 0

Answer:

C. $5

Explanation:

Marginal utility is the benefit gained from consuming an additional unit of a product or service.

According to the question, Michael is maximizing utility when Marginal Utility / Price of colas is equal to Marginal Utility / Price of hotdogs. Marginal utility can thus be found by solving the following equation for X (the price of hot dog)

MU/P of Colas = MU/P of hot dogs

300/3 = 500/X

3/300 = X/500

X = (3/300) x 500

X = 0.01 x 500

X = 5

Hence, the price of each hot dog is $5.

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Answer:

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Explanation:

Information Systems impact the Supply Chain at planning and monitoring stages. Information Systems allow managers to analyze information about the flow of the supply chain and allows them to spot where improvement is necessary. Besides, it allows tracking production to maximize it. Decisions can be made upon the feed Information Systems provide.

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Explanation:

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Answer:

A, B, and D

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According to my research on production optimization, I can say that based on the information provided within the question all of the answers provided except for improved wing-making technology would maximize the possible number of pizzas produced. This is because each of these answers provides a method of producing more pizza in the same time frame as before.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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