The Utility Function Shows That S and K can be used interchangeably, according to the utility function, and only one of them is really consumed.
- Utility in economics refers to the pleasure or happiness that customers derive from using an item or service. Consumer preferences for a variety of products and services are gauged by the utility function.
<u>CALCULATION</u>
Although the benefit or happiness that customers experience is calculated in units called utils
- MPs / MPk = 3/4 = 0.75 for MRS.
- Ps / Pk= 2 / 3 = 0.67
- MRS > Ps/Pk,
Hence only S will be employed.
'Starfruit' = 60 / 2 = '30
Kiwi = 0
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Answer:
the value of the manufacturing resources not used is $252,000
Explanation:
The computation of the value of the manufacturing resources not used is shown below
= (practical capacity - number of units produced) × budgeted cost per unit of supplying capacity
= (10,000 units - 4,000 units) × $42
= 6,000 units × $42
= $252,000
Hence, the value of the manufacturing resources not used is $252,000
Used closed ended probes. Open ended probes would be inviting an explanatory answer. I.e. Are you a man (closed ended). Or. How would you best describe your gender (open ended)
