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Andre45 [30]
3 years ago
5

We would expect the total utility of diamonds to be __________ than the total utility of water and the marginal utility of diamo

nds to be __________ than the marginal utility of water.
Business
1 answer:
Gennadij [26K]3 years ago
7 0

We would expect the total utility of diamonds to be <u>lower</u> than the total utility of water and the marginal utility of diamonds to be <u>higher</u> than the marginal utility of water.

<u>Explanation:</u>

The diamond-water paradox presents the puzzling predictions: while water is definitely essential to human existence because without water life can not function, the water price is relatively low. Alternatively, diamonds are actually far less essential to human life, but diamond prices are considerably higher. Thus the effectiveness obtained from water is evidently very high while the utility extracted from diamonds is considerably less.

Here total utility is the aggregate satisfaction of desires and needs gathered from the consumption of a good while marginal utility is the additional satisfaction of desires and needs received from the consumption of one additional unit of good.

You might be interested in
Sheffield Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution.
vlabodo [156]

Answer:

                        SHEFFIELD LABORATORY

                            PATENT (NO. 78-6002-1A)

Carrying value as at Dec 31

                                      2011                     2015                   2018

Cost                            $182,300           $349,000           $385,000

Amortization             <u> (10,724)   </u>             <u>(79,433)  </u>           <u>(142,403)</u>

                                 <u> 171,576     </u>         <u>   269,567  </u>           <u>242,597</u>

Cost

As at 31 Dec 2011

Design and construction of a prototype                                     $89,000

Testing of models                                                                           40,600

Fees paid engineers and lawyers to prepare application          <u> 52,700</u>

                                                                                                       <u>$182,300</u>

As at 31 Dec 2012

Cost as at Jan 1, 2012                                                                $182,300

Additional cost during the year:

Engineering activity necessary to advance.                           <u> $84,500  </u>

                                                                                                    <u>$266,800</u>

As at 31 Dec 2013

Cost as at Jan 1, 2013                                                                $266,800

Additional cost during the year:

legal fee paid                                                                              <u>$40600  </u>

                                                                                                 <u>   $307,400</u>

As at 31 Dec 2014

Cost as at Jan 1, 2013                                                                $307,400

Additional cost during the year:

Research aimed at modifying the design                                <u>$41,600 </u>

                                                                                                   <u> $349,000</u>

As at 31 Dec 2018

Cost as at Jan 1, 2018                                                                $349,000

Additional cost during the year:

legal fee paid in unseccesful patent infrigement.                   <u>  $36,000  </u>

                                                                                                    <u>$385,000</u>

Amortization for the year    

Dec 31 2011         $182,300/17 =  $10,724

Dec 31 2012

182,300/17                                          10,724

84,500/0                                          <u>      -       </u>

                                                         <u>  10,724</u>

<u />

Dec 31 , 2013 :

  $182,300/17 =  $10,724            

  84,500/16    =      5,281

40,600/0     =     <u>    -  </u>

                         <u>   16,005</u>

Dec 31 2014  =  

$182,300/17 =  $10,724            

  84,500/16    =      5,281

40,600/16     =       2,538

41,600/17      =       <u> 2,447</u>

                         <u>   20,990</u>

Dec 31 2018  =  

$182,300/17 =  $10,724            

  84,500/16    =      5,281

40,600/16     =       2,538

41,600/17      =        2,447

36,000/0     =    <u>       -</u>

                         <u>   20,990</u>

Explanation:

5 0
3 years ago
If you wanted to make sure a company has enough money available to pay ts
vovikov84 [41]

Answer:

D

Explanation:

The cash flow statement, as the name implies, report the use of company's real cash use in three area: investing, operating and financing activities as well as cash available at the beginning of the period and the end of the period as the result of three activities mentioned above.

3 0
3 years ago
ACME labs bought a new inspection device for $182,730. The accounting department has estimated that the device will have an annu
enyata [817]

Answer:

salvage value is $16,368.34

Explanation:

given data

initial cost = $182,730

annualized capital cost = $42,442

service life = 7 year

interest rate = 15%

solution

we get here first present value that is

annual value  = rate ×  \frac{present\ value}{(1 - (1+ r)^{-t})}       .................1

put here value and we get

42,442 = 15% ×  \frac{present\ value}{(1 - (1+ 0.15)^{-7})}

solve it we get

present value = $176,576.5343  

so

present value = initial investment + salvage value     ..............2

we take here present value and initial investment will be negative

-176,576.5343 = -182,730 + salvage value(p/f,15%,7)  

-176,576.5343 +182,730 = salvage value(p/f,15%,7)

6,153.465 = salvage value × 0.3759

salvage value = 16,368.34

3 0
3 years ago
If the price of a pencil is $1.00 and the price of a pen is $2.00, what is the relative price? If the pencil is $1.50 and the pe
Rudiy27
1) the relative price would be about $1.50 I think
2)  $2.00
3 $1.00
If these are wrong let me know please =) sorry if they are
3 0
3 years ago
An ad campaign by Suave shampoo asked television viewers to identify the heads of hair of women who used Suave shampoo and condi
Paraphin [41]

Answer:

Suave is most likely using<u> below-market pricing</u> or<u> the penetration pricing strategy.</u>

Explanation:

Penetration pricing is one of the pricing strategies used by the companies. In this strategy, the company gains the customer's attention and market shares by offering their products at low price. This increases the demand of the product or service in the future. This strategy involves below-market pricing to sell the products.    

8 0
3 years ago
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