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Semenov [28]
3 years ago
11

The theory of consumer behavior assumes that - consumers behave rationally, attempting to maximize their satisfaction - consumer

s do not know how much marginal utility they obtain from successive units of various products - consumers have unlimited money incomes - marginal utility is constant
Business
1 answer:
earnstyle [38]3 years ago
7 0

Answer:

Consumers behave rationally, attempting to maximize their satisfaction.

Explanation:

The principle assumption upon which the theory of consumer behavior and demand is built is:

A consumer attempt to allocate their limited money income among available goods and services so as to maximize their utility (satisfaction).

Utility is described as an amount of satisfaction derived from the consumption of a commodity. Measurement units is utils.

Assume that consumers have complete information about availability, prices and utility levels of all goods and services. All bundles of goods can be ranked based on their ability to provide utility.

The theory is useful for understanding the demand side of the market.

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Hull Company’s record of transactions concerning part X for the month of April was as follows.
olga55 [171]

Answer:1. $7720  

2. $7945

3. $7758

Explanation: 1. First in First out method which means the first inventory to be purchased by company will be the first to be sold.  

Total cost of Sales   = Total number of units Sold * Total Cost of inventory sold    

                                  = 100units*$5+ 300units*$5.30+ 200units*$5.35 + 450units*$5.60

                                   =$7720

Total units sold=1450  we started from first inventory which was the balance of inventory of 100 units downwards up to the 1450th unit sold that was purchased on the 26th of April by the company.

2. Last in first out method is where the last bought inventory is sold first.

Total cost of sales= Total number of units sold * Total cost of units sold =200units$*5.80+ 600units*$5.60+ 200units*$5.35+300units*$5.30+150units*$5.1

=$7945

Total units sold still 1450 but we calculated the cost from the last purchased unit from 30th April to the 1450th unit sold which was on the 12th of April.

3. Average Cost = (Sum of all costs/Total number of costs)* total units sold

                     = (($5+$5.1+$5.3+$5.35+$5.6+$5.8)/6)* 1450

=$7769.58

4 0
3 years ago
A merchandiser returned inventory worth $1,400 that was purchased on account. Under the periodic inventory system, the joumal
cestrela7 [59]

Answer:

a debit to Accounts Payable for $1,400 and a $1,400 credit to Purchase Returns allowances

Explanation:

Periodic inventory system is one that updates information on inventory on a periodic basis. This is opposite of perpetual inventory system that requires update of inventory system at all times.

In the scenario the merchandiser bought the goods on account. That means he did not pay cash but rather bought on credit.

On purchasing the items accounts payable will be credited thereby increasing the account balance.

Since the items are being returned a debit will be applied to accounts payable resulting in a decrease in the account balance.

A credit will now be posted to purchase returns allowances to show that products have been returned by a buyer

4 0
2 years ago
To bridge the gap between a database and the Internet, it is necessary to use _____, which is software that integrates different
denis-greek [22]

Answer:

The correct answer is middleware.

Explanation:

The term middleware refers to a software system that offers common services and functions for applications. In general, middleware is responsible for data management, application services, messaging, authentication and API management.

Help developers design applications more efficiently. In addition, it acts as a guiding thread between applications, data and users.

In the case of companies with container and multicloud environments, middleware can make profitable the development and execution of applications at scale.

7 0
3 years ago
Which is not a characteristic of management accounting​ information? A. Emphasizes the external financial statements B. Provides
yan [13]

Answer: A - Emphasizes the external financial statements

Explanation: The characteristic of management accounting​ information are what makes the accounting information relevant and they include:

1. Verifiability: Management Accounting information must be verifiable that is one must be able to confirm the information on the accounts using other source documents.

2. Objectivity: Management Accounting information must be useful in decision making and planning for the future of an organisation.

3. Relevance: Management Accounting information must be reliable for decision making. The owners and decision makers must be able to rely on the information presented in the management account

4. Understandability: Management Accounting information must be understood by any user of the information presented therein. Information therein must be simple and not complex.

5. Comparability: Management Accounting information must be easy to compare with others in the same industry and also from year to year to enhance a good decision making process.

4 0
3 years ago
Fama and French have suggested that many market anomalies can be explained as manifestations of ____________.A. regulatory effec
stiks02 [169]

Answer:

D. varying risk premiums

Explanation:

Fama and French has a total of three factors considered in the study:

Size of firms, book to market values, and the additional return on the market.

For all these market anomalies the study is based on the varying risk premiums assigned.

As for the market efficiency the out performance is explained by the risk and value that is of small stocks due to high cost of capital associated, and with that there is great business risk also associated.

7 0
3 years ago
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