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Andrew [12]
3 years ago
6

What is an economic system

Business
2 answers:
ruslelena [56]3 years ago
6 0
An economic system<span> is a </span>system<span> of production, resource allocation, and distribution of goods and services within a society or a given geographic area</span>
PtichkaEL [24]3 years ago
5 0
An economic system<span> is a </span>system<span> of production, resource allocation, and distribution of goods and services within a society or a given geographic area.</span>
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Julio receives utility from consuming food​ (F) and clothing​ (C) as given by the utility function . In​ addition, the price of
AleksandrR [38]

​Julio's marginal rate of substitution equals is: 0.38, which is the price of food divided by the price of clothing.

<h3>Marginal rate of substitution</h3>

Using this formula

Marginal rate of substitution=Price of food/Price of clothing

Let plug in the formula

Marginal rate of substitution=$3 per unit/$8 per unit

Marginal rate of substitution=0.375

Marginal rate of substitution=0.38 (Approximately)

Therefore ​Julio's marginal rate of substitution equals is: 0.38, which is the price of food divided by the price of clothing.

Learn more about  marginal rate of substitution here:brainly.com/question/13401044

#SPJ1

6 0
1 year ago
The merger of two firms producing personal computers is an example of a __________ merger. Group of answer choices
jasenka [17]

Answer:

Horizontal merger

Explanation:

The merger of two firms producing personal computers is an example of a horizontal merger

A horizontal merger is a merger or business collaboration that happens between firms that operate in the same industry. The products being sold are similar and in the same market

4 0
3 years ago
Zhang Industries sells a product for $700 per unit. Unit sales for May were 700 and each month's unit sales are expected to grow
ratelena [41]

Answer: $14594

Explanation:

The budgeted selling expense for the manager for the month ended June 30 will be calculated thus:

The unit sales for June will be:

= [700 × (1 + 3%)]

= 700 × (1 + 0.03)

= 700 × 1.03

= 721 units

Commission will be:

= 2% × (721 × 700)

= $10,094

Therefore, the selling expenses to be reported will be:

= $10,094 + $4500

= $14594

4 0
2 years ago
Two firms are ordered by the federal government to reduce their pollution levels.
Leni [432]

Answer:

The solution and complete explanation for the above question and mentioned conditions is given below in the attached document.I hope my explanation will help you in understanding this particular question.

Explanation:

8 0
3 years ago
Smith Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hour
Tems11 [23]

Answer and Explanation:

The journal entry to record the manufacturing overhead cost incurred is shown below:

Manufacturing overhead Dr $427,500

          To Accumulated depreciation - Plant & Equipment $400,000

          To Property tax payable $19,500

          To Wages payable $8,000

(Being the manufacturing cost incurred is recorded)

6 0
3 years ago
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