The reason why the demand is extremely time-and-place dependent would be: <span>Because customers must be present for service to be delivered
</span>customers must be present for services businesses because Unlike merchandising business, service business focused on the enhance Customer's experience rather than focus on selling the product.
I think the answer is c. july 3rd !
Answer: Stan will buy 3 units of Candy bars and 5 units of Soda.
Explanation:
The optimal consumption bundle s given by the point where the indifference curve is tangent to the budget line. At this point, the slope of the indifference curve is equal to the slope of the budget line.
That is
This marginal utility per dollar is equal for consumption bundles,
1 unit of candy bar, 4 units of soda = Total expenditure = $6 < Income. Thus not optimal
3 unit of candy bar, 5 units of soda = Total expenditure = $11 = Income. Thus optimal bundle
5 unit of candy bar, 6 units of soda = Total expenditure = $16 > Income. Thus not optimal
7 unit of candy bar, 7 units of soda = Total expenditure = $21 > Income. Thus not optimal
Therefore, 3 units of candy bars and 5 units of soda is the only optimal bundle which utilizes all the income to maximize consumption.
Answer: See explanation
Explanation:
Absolute advantage simply means when an economic entity such as individuals or the firms can produce a particular good more efficiently than others who produce similar good. In this case, a larger quantity is produced when compared to others.
Comparative advantage is when an economic agent can actually produce goods at an opportunity cost that's lower than the opportunity cost of its competitors. Due to this, such economic agent can sell its good at a cheaper price than others and therefore make more revenue.
Answer:
$34,244.98
Explanation:
For computing the settlement worth in present value terms first we have to determine the future value which is shown below:
Value at year 4 = Annuity × [1 - 1 ÷ (1 + interest rate)^number of years] ÷ interest rate
= $7,275 × [1 - 1 ÷ (1 + 0.07)^7] ÷ 0.07
= $7,275 × [1 - 0.6227497419
] ÷ 0.07
= $7,275 × 5.3892894016
= $39207.08
Now the present value is
As we know that
Future value = Present value × (1 + interest rate)^number of years
$39,207.08 = Present value × (1 + 0.07)^2
So, the present value is
= $39,207.08 ÷ 1.1449
= $34,244.98
We simply applied the above formula so that the present value comes i.e today's value
