Answer:
B. not maximizing utility because the marginal utility per dollar spent on movies is not equal to the marginal utility per dollar spent on CDs
Explanation:
Consumer is at utility maximising equilibrium in case of two goods consumption, when Marginal Utility per unit of dollar spent on each good is equal , i.e :
MU (G1) / P (G1) = MU (G2) / P (G2) , where ;
MU (G1) = Marginal Utility of Good 1 , MU (G2) = Marginal Utility of Good2 , P (G1) = Price of Good 1 , P (G2) = Price of Good 2
If Marginal Utility per unit of dollar spent on any good is higher than other , it is beneficial (utility maximising) for consumer to increase consumption of good having higher MU/P .
Given: MU (Movie) = 50, P (Movie) = 5 , MU (CD) = 96, P (CD) = 10. MU (Mov) / P (Mov) i.e 50/5 = 10 > MU(CD) / P(CD) i.e 96 / 10 = 9.6
Since consumer's MU per unit of dollar spent is not equal for both goods , consumer is not at utility maximising equilibrium.
Answer:
If a statute is silent on this point, enforcement depends on whether it is a(n) REGULATORY statute or a revenue-raising statute.
Explanation:
Regulatory statutes regulate practitioners, e.g. doctors, constructors, real estate brokers, dentists, etc., and its main purpose is to protect the general public. This statues are state laws meant to regulate certain professions that may be considered sensitive or hazardous. E.g. a person that pretends to be a doctor can severely injure a patient or even kill him/her. A person that pretends to be a real estate broker can be committing fraud against his/her clients.
Answer:
The sector which is registered and follows government rules and regulations, having employees and employee unions is called as an organised sector. ... The sector that comprises of small-scale enterprises or units and is not registered with the governmen
Answer:
<u>Supply chain management</u>
Explanation:
Supply chain management refers to a system of organizations, people, activities and information which are involved in the movement of products from the suppliers to the customers.
Such activities transform the inputs into finished products which are delivered to the end customers.
Logistics refers to the activities concerned with efficient movement and transportation of goods and products to the customers. This involves making the product available when and where required and within a specified time frame to yield customer satisfaction.
Operations management is conerned with ensuring effcient business operations with optimal utilization of resources and minimum possible wastage.
Marketing channel management refers to channels of distribution to be selected for making goods and products available such as wholesellers, retailers, etc.
Thus, supply chain management integrates the functions of logistics management, operations mangement, marketing channel management and supply management, to ensure products are available in the right quantities, at right places and at the right times.
Answer: Air transport is an important enabler to achieving economic growth and development. Air transport facilitates integration into the global economy and provides vital connectivity on a national, regional, and international scale. It helps generate trade, promote tourism, and create employment opportunities.
Explanation:High Costs: Air transport is a costly service. Its operational costs are too high. Middle class and poor people can not affect its cash.
More Risks: Air transport is prone to accidents. A small mistake can be very dangerous for passengers. ...
Huge Investments:
