Answer:
a random sample they should select should be 1692 large.
Explanation:
Given:
a = 0.1
Z(0.05) = 1.645 (from standard normal table)
n = (Z/E)^2*p*(1 - p)
= (1.645/0.02)^2*0.5*0.5
= 1691.266
Therefore, a random sample they should select should be 1692 large.
Answer:
See below
Explanation:
Marginal cost is the expense associated with the production of an extra unit. It is the cost incurred by a business should it produce one more unit.
Marginal benefit is the gain resulting from the sale of one more output. It is the revenue earned from the sale of an extra unit of output.
Marginal benefit is compared to marginal cost to determine if producing and selling an extra unit is profitable or not. If the marginal benefit is greater than marginal cost, selling an extra unit is profitable. In making economic decisions, production should continue as long as the marginal benefit is greater or equal to marginal cost. It must stop when marginal cost is more than marginal benefit.
Answer: B. Beans are necessarily inferior and eggs are necessarily normal
Explanation: He reduces the amount of egg to meet up with the beans, for his satisfaction.
Answer:
80 units
Explanation:
Given:
- Price: $25 we have: 100 units
- Price: $20, how many units to maximize the total utility
Let X is the number of units we need to find
As we know that, the law of equal-marginal utility a consumer spends his or her income among goods so that utilities receive from the amount spent is equal. So we use a simple rule of three:
$25 100 units of utility
$20 X
<=> 25X = 20*100
<=> X = 80 units
Hope it will find you well.
The answers are as follows:
1. <span>A fast food chain that wants to inform consumers about its latest dollar menu item will most likely use NEW TECHNOLOGY AND MEDIA.
The fastest way for companies to get information across to their customers these days is through internet technology and its associated media. Information through these channel and fast and travel wide.
2. BLOGS </span><span>may inform consumers about other people’s opinions on the newest dollar menu item.
A blog is an informational or discussional website that is published on the internet and which usually focus on a specific topic or field. Blogs can be owned by an individual or a business. Businesses use blogs these days to promote their products.</span>
