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3 years ago

We assume that the representative consumer's preferences exhibit the properties that

Business

1 answer:

LenaWriter [7]3 years ago

7 0

Answer:

c. consumption and leisure are both normal goods and that the consumer likes diversity in his or her consumption bundles.

Explanation:

A consumer's preference can determine the consumer utility properties between the different periods and can be measured by the tastes and preference by comparing the opportunity costs of that one item when every you buy an item.

The consumption and the leisure are both the normal goods hat the consumer likes to have diversity in his consumption patterns and have a utility related to them.

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How should each instrument be changed if the fed wished to decrease the money supply?

densk [106]

The way each instrument be changed if the fed wished to decrease the money supply is the Fed should conduct :
- Open market sales
- Raise discount rates
- Raise interest paid on reserves.
This will attract more saving from the people.

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3 years ago

The purchase of a used pickup for $9,000 is being considered. Records for other vehicles show that costs for oil, tires, and rep

oee [108]

The equivalent uniform annual cost is $4,500 with a 10,000 mileage and $5,510 with 15,000 mileage.

<h3>What does mileage cost?</h3>

The cost per mileage depends on the total miles traveled especially in a given period of time. The distance is multiplied by the mileage rate to obtain the mileage cost.

<h3>Data and Calculations:</h3>

Cost of used pickup van = $9,000

Costs of oil, tires, and repairs = $990

Fuel costs per year for 10,000 miles = $990

Fuel costs per year for 15,000 miles = $1,495 ($990/10,000 x 15,000).

Salvage value after 5 years drops by 8% per mile per year

Deprecation expenses per year = $1,800 ($9,000/5)

Interest rate = 8%

Annual interest = $720

Equivalent uniform annual cost for 10,000 mileage = $4,500 ($1,800 + $990 + $990 + $720)

Equivalent uniform annual cost for 15,000 mileage = $5,510 ($1,800 + $1,495 + $1,495 + $720)

Thus, the equivalent uniform annual cost is $4,500 with a 10,000 mileage and $5,510 with 15,000 mileage.

Learn more about vehicle mileage calculations at brainly.com/question/24787693

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2 years ago

Which of these increases the price of certain foreign-made goods?

nexus9112 [7]

An import tariff would increase the price of certain foreign-made goods.

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3 years ago

Read 2 more answers

If you are under the age of 21 and have any detectable amount of alcohol in your system while operating a motor vehicle in a pub

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<span>Driving under the influence of alcohol by a minor

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3 years ago

Each scenario below illustrates a basic underlying principle of economics of how economies work through the interactions of indi

vladimir1956 [14]

Answer:

The correct answer is: market efficiency; government intervention; specialization; equilibrium.

Explanation:

The owner of the snow cones realizes that the demand for snow cones has decreased in winter, and thus, closes shop to open back. This is an example of market efficiency.

The local river is being polluted too much because of the amount of chemicals being dumped in the river. The government puts regulation on the amount of chemicals being dumped. This is an example of government intervention in the economy.

At a restaurant one chef is placed at the vegetable station, one chef is at meat station, and one is to plate the food. This an example of specialization the management is placing chef that specializes in vegetable, meat and in plating at their respective positions.

The favorable whether leads to increase in supply of oranges. This causes a rightward shift in supply curve. The price of oranges fall as a result. This is an example of change in equilibrium.

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3 years ago