Answer:
Option (a) is correct.
Explanation:
Given the marginal utility per dollar for the two products as follows:


All the individuals wants to maximize their utility that is obtained from the consumption of goods. We can see that marginal utility per dollar of product A is higher than the marginal utility per dollar of product B which means that this consumer should purchase more quantity of product A and less quantity of product B.
It is going on until the point at which marginal utility per dollar of both the products becomes equal.
Answer:
Option B and C
Explanation:
In simple words, Because there is a substantial majority of the populace smoking weed, whether lawfully or unlawfully, the tax increase may be a significant stream of extra income for the country. The elasticity with such medications is usually known as inelastic.
Therefore, if the surcharge is brought up, there might be more earnings that the administration can receive after the intake has been legalized and also that income could lead to increased state expenditure in the nation.
Answer:
Zach will pay $4,725 in interest on the loan.
Explanation:
In calculating interest the formula that applies is
I= P x R x T
where I = interest
P = principal amount
R = interest rate
T= time
In the case of Zach
I= $18,900 x 5/100 x 5
I = $18,900 x 0.05 x 5
I =$945 x 5
I =$4,725
Interest for the loan is $4,725
Answer:
the marginal revenue per unit of output and the marginal product of labor
Explanation:
Marginal revenue product -
It is the market value of one of the additional unit of output , is known as marginal revenue product also called the marginal value product .
The calculation for marginal revenue product is calculated by the multiplication of the marginal revenue with the marginal product of the labor .
MRP = MR * MPL
Where ,
<u>MRP = Marginal revenue product </u>
<u>MR = marginal revenue</u>
<u>MPL = marginal product of the labor .</u>
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