Answer and explanation:
Yes, the fact that a consumer is willing to replace four pounds of generic store-brand sugar for two pounds of a brand-name sugar reflects a diminishing marginal rate of substitution. This type of marginal rate of substitution (<em>MRS</em>) explains how a consumer is willing to acquire less quantity of one good to get one more additional unit of another good that is equally satisfying. In a graph, the diminishing MRS is calculated using an <em>indifference curve</em>.
Answer:
The present value of the annuity will be 8,215
Explanation:
This will be the case of an annuity.
There is an annuity of 450 dollars, at a 5% rate for 50 years.
c= 450
rate = 0.05
time = 50
PV = $8,215.1665
rounding to nearest dollar = $8,215
An advantage of a sole proprietorship form of business is C. THE OWNER MAKES ALL THE DECISIONS.
Sole proprietorship is business owned by an individual. It is easy to establish because its requirements are simple compared to forming a partnership or corporation.
All the decision-making process are made by the owner. The profits of the business are all for the benefit of the owner. However, once the business is losing, even the personal assets of the owner is affected when he or she tries to maintain the business and stop it from going under.
Repeat sales or Repeat business
The web said repeat sales