1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
krek1111 [17]
3 years ago
5

Based on his​ preferences, Bill is willing to trade 4 movie tickets for 1 ticket to a basketball game. If movie tickets cost $8

each and a ticket to the basketball game costs ​$28 should Bill trade movie tickets for basketball​ tickets? Why or why​ not?
Bill should
A. not trade movie tickets for basketball tickets because his marginal utility per dollar spent on movie tickets is less than his marginal utility per dollar spent on basketball tickets.

B. trade movie tickets for basketball tickets because his marginal rate of substitution is greater than the ratio of the price of a basketball ticket to the price of a movie ticket.

C. trade movie tickets for basketball tickets because his marginal utility per dollar spent on movie tickets equals his marginal utility per dollar spent on basketball tickets.

D. not trade movie tickets for basketball tickets because his marginal rate of substitution equals the ratio of the price of a basketball ticket to the price of a movie ticket.

E. not trade movie tickets for basketball tickets because his marginal utility per dollar spent on movie tickets is greater than his marginal utility per dollar spent on basketball tickets.
Business
1 answer:
nexus9112 [7]3 years ago
6 0

Answer:

The correct option is option e)

not trade movie tickets for basketball tickets because his marginal utility per dollar spent on movie tickets is greater than his marginal utility per dollar spent on basketball tickets.

Explanation:

The cost of one movie ticket is $8 then Bills' four tickets will be $32.

The cost of a basketball ticket is $28.

Therefore if bill should trade 4 movie tickets for a basketball ticket he will make a loss of $ 4 so it is advisable for bill not to trade movie ticket for basketball ticket. And again his marginal utility per dollar spent on movie tickets is greater than his marginal utility per dollar spent on basketball tickets.

You might be interested in
Part of the lands' end business model includes purchasing products and then selling them again without any reprocessing. lands'
Musya8 [376]
<span>Part of the lands' end business model includes purchasing products and then selling them again without any reprocessing. Lands' end is operating in the reseller market.
This company doesn't use the goods it has bought - it just sells it again to another company so as to get some profit.
</span>
7 0
3 years ago
Which of the following statements is true? Group of answer choices If current Real GDP is greater than Natural Real GDP, the eco
Archy [21]

Answer: Wages are flexible if the economy is self-regulating.

Explanation:

Classical economists believe that the economy is self-regulating. This means that if the economy is not at equilibrium, it will return to equilibrium if it is left without interference.

For this to happen, inputs such as wages have to flexible to enable them to adjust to market conditions and thus take the Economy back to equilibrium.

For instance, if there is a recession, wages will reduce so that the prices that the producers can charge will reduce as well which will enable supply to match demand and bring the economy back to equilibrium.

4 0
3 years ago
Liz planned on opening a handmade quilt business in her hometown. However, after completing a/an _______, she decided to start w
Hatshy [7]
Either B or D. A and C do not make sense. I think it is B, but i do not know
5 0
3 years ago
Read 2 more answers
Betty owns 100 shares of MegaCorp, Inc., which she bought in MegaCorp’s initial public offering of 10,000 shares. MegaCorp makes
yaroslaw [1]

Answer:

Preemptive rights

Explanation:

Preemptive rights are a way of preventing the dilution of a shareholder's ownership in a corporation.  Preemptive rights are set by a contract clause that establishes that in case the corporation issues new stock, then a current shareholder must be given the right to buy additional shares before the stocks are sold to other investors.

The preemptive right usually gives the stockholder the right to buy new stock in the same proportion as his/her current stock ownership. For example, if an investor currently owns 2% of the company's stock, he/she will be able to buy 2% of every new set of stocks issued.

4 0
3 years ago
What are the factors of production required by jewellery shop to operate its business
Blababa [14]

Answer:

See explain

Explanation:

There are 4 factors of production, land labor entreprenuership and capital.

The land of the jewellery shop would be the actual land that the store is on itself. The labor of the shop would be any of the work that any employees are doing. The capital would be any goods or machinery that is used in the store like cash registers, or bulletproof glass to protect their belongings, or any tools that the store uses to help make their jewellery etc. The last and final factor entrepreneurship might be for example the owner of the store, who manages the other 3 factors to bring a profit to the store.

4 0
2 years ago
Other questions:
  • The EPBO for a particular employee on January 1, 2021, was $150,000. The APBO at the beginning of the year was $30,000. The appr
    9·1 answer
  • How is Japan dealing with economic concerns about an aging population?
    15·1 answer
  • Marcie frequently requests meetings between her team and counterparts in portland. she often spots issues that will affect both
    9·1 answer
  • Consider four different stocks, all of which have a required return of 14 percent and a most recent dividend of $3.50 per share.
    5·1 answer
  • Winston Churchill was born when his father entered Parliament dependent or independent
    13·1 answer
  • A court is likely to find that the state’s interest in reducing illegal drug activity, along with the associated criminal activi
    5·1 answer
  • On january 1, 2012, water world issues $25 million of 6% bonds, due in 20 years, with interest payable semiannually on june 30 a
    15·1 answer
  • One primary function of Harriet's job is to study individuals, groups, or organizations and the processes they use to select, se
    10·1 answer
  • If supply-side policies succeed, less output is produced at every price level.
    7·2 answers
  • Sales and excise taxes are levied on retailers, but retailers add these taxes to the prices of their products. this illustrates
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!