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Katyanochek1 [597]
3 years ago
11

Charlie’s utility function is ????(x????,x????) = x????x????. The price of apples used to be $1, the price of bananas used to be

$2, and his income used to be $40. If the price of apples increased to $5 and the price of bananas stayed constant, the substitution effect on Charlie’s apple consumption would reduce his consumption by (choose the closest answer) (a) 4 apples (b) 13 apples

Business
1 answer:
Reptile [31]3 years ago
3 0

Answer:

The other options are ; (a) 4 apples (b) 13 apples (c) 11 apples (d) None of the above

Explanation:

The detailed analysis and step by step calculation is as shown in the attached files.

The correct option is NONE OF THE ABOVE

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3 years ago
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Answer:

A. $ 1.800

Explanation:

The total manufacturing costs for the period are:

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Labor                                                       $  4.000

Overhead costs                                      <u>$  2,000</u>

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Units inventory at end of period               2,000

Inventory value at period end $ 0.90 * 2,000 = $ 1,800  

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3 years ago
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Answer: 24.48%

Explanation:

Return on the index over the year is calculated by;

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<h2>Answer</h2>

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Answer:

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3 years ago
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