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bezimeni [28]
3 years ago
11

An interior solution to a consumer's utility maximization problem implies which of the following:A. consuming optimal amounts of

all goodsB. consuming a positive amount of one good and a negative amount of the other good.C. consuming less than an optimal amount of at least one good.D. consuming negative amounts of all goods.
Business
1 answer:
Lelu [443]3 years ago
7 0

Answer:

The correct answer is A

Explanation:

Interior solution is the solution or a choice which is to be made through an agent and that could be characterized as an optimum which is located or situated at the tangency of two curves on the graph.

The utility maximization of the consumer states or defines that the consumer decide or take decision to allocate the incomes so that the last dollar amount which is spent on each and every product bought yields the same amount of the additional marginal utility.

Therefore, the interior solution to the utility maximization of the consumer problem states that the consumer consuming the optimal amounts of all the goods.

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In business, which of the following tones should be part of every written communications? a. Funny b.Vague c.Sarcastic d.polite​
dlinn [17]

Answer:

Polite

Explanation:

8 0
3 years ago
Jack and Diane decided to remodel their kitchen. They removed their old cabinets and replaced them with newer, nicer cabinets. T
Hitman42 [59]

Answer:

The answer is: $2,500

Explanation:

According to the IRS, the cost basis for any asset should be the original cost adjusted by its depreciation.

Since Jack and Diane aren't able to determine the depreciation expenses for the cabinets, they should use their fair market value as cost basis.

4 0
3 years ago
The code that forty-nine states have adopted to interpret and enforce contract law is the _____.
grin007 [14]
<span>The code that forty-nine states have adopted to interpret and enforce contract law is the "Uniform Commercial Code".


</span>The Uniform Commercial Code was published in 1952 and it contains many uniform acts. The nine articles of the UCC is an arrangement of laws overseeing the offer of products, leases of merchandise, debatable instruments, bank stores, support exchanges, letters of credit, mass deals, distribution center receipts, bills of replenishing, investment securities and secured exchanges. As the national economy developed at the turn of the twentieth century, a need to direct business exchanges consistently became important. With the reception of the UCC, organizations and in addition people are secured.
3 0
3 years ago
Read 2 more answers
An insurance applicant MUST be informed of an investigation regarding his/her reputation and
murzikaleks [220]

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Fair Credit Reporting Act is the correct answer.

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7 0
3 years ago
When the price of good A is $50, the quantity demanded of good A is 500 units. When the price of good A rises to $70, the quanti
katen-ka-za [31]

Answer:

total revenue  for 500 is $2500

total revenue  for 400 is $2800

Explanation:

given data

price of good A = $50

quantity demanded of good A = 500 units

price of good A rises = $70

quantity demanded of good A falls = 400 units

solution

we get here Elasticity of demand that is express as

Elasticity of demand = (change in quantity ÷ average quantity) ÷ (change in price ÷ average price)   .......................1

here

Change in quantity is = 400 - 500 = -100  

and average quantity is =  \frac{400+500}{2} = 450

and change in price is = 70 - 50 = 20

average price is = \frac{70+50}{2} = 60

so now we put all value in equation 1

Elasticity of demand  = \frac{\frac{-100}{450} }{\frac{20}{60} }

Elasticity of demand  = -0.67

as here the elasticity of demand is inelastic because elasticity is above -1

so about total revenue when price will increases as elasticity is inelastic

so increase in price will cause increase in revenue because revenue is maximum when elasticity = -1

and increase in price will cause increases elasticity in the absolute term and revenue will increase

total revenue = price × quantity

so

total revenue  for 500 = 500 × 5 = $2500

total revenue  for 400 = 400 × 7 = $2800

5 0
3 years ago
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