<span>A nominal interest rate means very low interest rates therefore we can use money for long duration by paying very low interest rate. We can hold this money for land duration. We also invest this money in other investment plan that gives better returns. This nominal interest rate is very helpful for running any business.</span>
Answer:
b. Somaya just launched an online shoe company
d. A publishing company sells health-based curricula.
Explanation:
Pure goods are goods that are not associated with any services.
Pure services are services not associated with any physical goods.
I hope my answer helps you.
Answer: The nonrefundable $20 ticket is the sunk cost.
Explanation: A sunk cost is a cost that has already been incurred and which cannot be recovered.
However, a prospective cost is a future cost that is yet to be incurred and which can be avoided if an action or inaction is taken.
Therefore, from the scenario in the question above, we can see that Susie has already purchased the soccer match ticket which costs $20, and she is yet to incur the costs of gas, wear and tear, and parking fee.
Hence, the $20 is the sunk cost because it has already been incurred and cannot be recovered, while the $10 for gas and wear and tear, and $5 for parking are the prospective costs that will be avoided.
Answer:
The policy-holder is the person that owns the insurance policy.
Answer:
Wage rate is $5
Explanation:
The marginal utility of money=marginal utility of leisure/wage rate
When the formula is rearranged,wage rate is given thus:
wage rate=marginal utility of leisure/marginal utility of money
wage rate=15/3
wage rate =$5
In other words, the correct option is C,wage rate is $5
Option D would have been correct if the requirement was to calculate marinal utility of leisure
