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maks197457 [2]
3 years ago
9

To maximize utility, a consumer should allocate money income so that the Multiple ChoiceA) elasticity of demand on all products

purchased is the same. B) marginal utility obtained from the last dollar spent on each product is the same. C) total utility derived from each product consumed is the same. D) marginal utility of the last unit of each product consumed is the same.
Business
1 answer:
ikadub [295]3 years ago
6 0

Answer:

D) Marginal utility of the last unit of each product consumed is the same.

Explanation:

To maximize utility with a given income constraint, a consumer must chose products to maximize utility. This can be done so that each extra dollar, which is the marginal income, spent on each of these products yields the equal marginal utility. For example if one product yields more marginal utility per marginal dollar spent, the consumer should reallocate their income so they consume more of this product and less of others, so much so that the utility derived from this product equals utility derived from other products.

Utility is maximized when these marginal utilities per marginal dollar spent coincide.

Hope that helps.

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$18.74

Explanation:

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8 0
3 years ago
Jones Retail. had the following balances and transactions during 2017:
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Answer:

B $1,625

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The ending inventory units = Beginning inventory + purchase of inventory - selling units

= 15 units + 35 units - 25 units

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And, the market value equal to

= ending inventory units × replacement cost

= 25 units × $65

= $1,625

Based on the lower-of-cost-or-market value, the ending inventory would be $1,625

7 0
3 years ago
The BMW StreetCarver is a $495 skateboard that features BMW's technology in its wheel suspension, which stabilizes the board's s
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explaining the stability and control aspects of the StreetCarver in its advertising messages

Explanation:

Based on the scenario being described within the question it can be said that In this case, it will most likely focus on explaining the stability and control aspects of the StreetCarver in its advertising messages. That is because these aspects are the highlights of what make the StreetCarver unique and better than the other options in the market, therefore these aspects are what will place the StreetCarver in the consideration set of potential skateboard buyers.

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Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3200 jackets, and he expects his June u
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2 years ago
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