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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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In Spring 2018, Parmac Engineering Company signed a $160 million contract with the city of Parkersburg, to construct a new city
marta [7]

Answer:

By using the percentage-of-completion method the $64 million revenue should Parmac recognize in 2018

Explanation:

Percentage-of-completion method : Under this method,

First we have to calculate the percentage which is based on current period cost to total period cost.

After that, multiply the percentage with the revenue so that we get to know how much revenue is being recognized during an particular year.

In mathematically,

Estimated Cost percentage =  current period cost ÷ total period cost

                                              = $48 million ÷ $120 million

                                              = 40%

Now,

Revenue recognized = Estimated cost percentage × Revenue

                                   = 40% × $160 million

                                   = $64 million

Hence, by using the percentage-of-completion method the $64 million revenue should Parmac recognize in 2018

7 0
3 years ago
Elise Philips, a leading fashion designer, connects with her followers through a strong online presence, promoting her brand and
galben [10]

<u>Answer</u>:

Elise Philips, a leading fashion designer, connects with her followers through a strong online presence, promoting her brand and discussing fashion tips through articles and videos on her personal fan page. In this case, the marketing forms Elise uses is (A) Blog

<u>Explanation</u>:

A word “Blog” etymologically speaking, comes from the combination of 2 words- Web and log.  

Essentially, a blog is an online account or expression of the writer, and is started with people putting their private experiences online but it has now become a very popular means of promotion and is gaining popularity in most urban areas.  

Blog Marketing entails using blogging websites such as Wordpress among others to promote ones’ product to the masses.  

The main advantages of Blog marketing include that firstly, it is easier to manage and economically feasible, secondly, it is an effective tool of marketing, especially amongst millennial, thirdly, it gives a more personalised approach to marketing and lastly, it is a great way to improve one’s Search Engine Optimisation ranking.

6 0
3 years ago
Franklin Manufacturing provided the following information for the month ended Marchâ 31:
Alexxx [7]

Answer:

a. Cost of Goods Sold (COGS) amounts to $21,100

Explanation:

a.

Computing the Cost of Goods Available for Sale as:

Cost of Goods Available for Sale = Beginning Finished Goods Inventory + Cost of Goods Manufactured

where

Cost of Goods Manufactured is $18,600

Beginning Finished Goods Inventory is $15,000

So, putting the values above:

Cost of Goods Available for Sale = $18,600 + $15,000

Cost of Goods Available for Sale = $33,600

Computing the COGS (Cost of Goods Sold) as:

Cost of Goods Sold (COGS) = Cost of Goods Available for Sale - Ending Finished goods Inventory

where

Cost of Goods Available for Sale  is $33,600

Ending Finished goods Inventory is $12,500

So, putting the values above:

Cost of Goods Sold (COGS) = $33,600 - $12,500

Cost of Goods Sold (COGS) = $21,100

4 0
3 years ago
Suppose Yamahonda, a Japanese-owned motorcycle manufacturer, builds a production plant in Alabama. This is an example of foreign
Alika [10]

Answer:

The statement is true, as it is an example of foreign direct investment.

Explanation:

Foreign direct investment is the direct investment by individuals or legal persons in production or business operations abroad. In this context, investments include both acquisition of foreign operations and expansion of own operations.  

Foreign direct investment does not include the purchase of either shares or bonds per se. More specifically, the IMF has restricted direct investment on acquisitions to cases where the foreign investor owns 10% or more of the shares that give administrative rights in the business. Investment funds that can be classified as foreign direct investments therefore include equity deposits, reinvestments of dividends from the business, as well as the allocation of short-term and long-term loans between parent companies and subsidiaries.  

3 0
2 years ago
When an economy is temporarily operating at an output that is beyond its full-employment rate it means that
MrMuchimi

It means that excess demand in resource markets will lead to higher resource prices, which will increase costs and direct the economy toward full employment.

Explanation:

An economy’s full employment output is the highest production level when all available resources are used efficiently. It equals the highest level of production an economy can sustain for the long-run. It is also referred to as the full employment production which results in long term supply of the finished good.

When there is increased demand then eventually there will be an increase in the price and also costs of the production which leads the economy towards the full employment output as it is a sustainable output.

3 0
3 years ago
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