Answer:
Katie Kwasi's Utility Function
The units of x1 that she will consume after the change in income is:
= 40 units of x1
Explanation:
a) Data and Calculations:
Katie Kwasi’s utility function, U(x1, x2) = 2(ln x1) + x2
Current consumption = 10 units of x1 and 15 units of x2
When her income doubles, with prices staying constant, Katie will consume:
= 2(2 * 10 of x1) + 15 of x2
= 40 units of x1 + 15 units of x2
Therefore, she will consume 40 units of x1 and 15 units of x2
b) The above function expresses mathematically Katie's utility to be a function of the units of x1 and x2 that she can consume, given her income constraint. If her income doubles, Katie will consume double units of x1 and the same units of x2 as she was consuming before the change in income.
Answer:
Investment consultants check that the portfolio manager's performance was based on skill investing in the agreed-upon stocks or sectors
Explanation:
because it is
Answer:
BE Scoping strategy CC Horizontal scope D.A)Horizontal installation.
Answer:
Days in Inventory = 63 days
Explanation:
We know,
Days in Inventory = 365 days ÷ Inventory Turnover
Given,
Inventory turnover = Cost of goods sold ÷ Average Inventory
Inventory turnover = 16,936 ÷ [( $2,410 + 3,430) ÷ 2]
Inventory turnover = 16,936 ÷ (5,840 ÷ 2)
Inventory turnover = 16,936 ÷ 2,920
Inventory turnover = 5.8
Putting the values into the formula, we can get
Days in Inventory = 365 days ÷ Inventory Turnover
Days in Inventory = 365 days ÷ 5.8
Days in Inventory = 63 days
Answer:
The answer is: A) is the sum of all individual demand curves.
Explanation:
By definition the market curve is the sum of all individual demand curves in a market. It shows the total quantity of goods that consumers demand (are willing and able to purchase) at varying price points. Usually the curve shows a downward slope since consumer demand decreases as the price of a good increases.
