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adell [148]
3 years ago
12

If a consumer purchases a combination of coffee and football tickets such that Coffee/Coffee = 20 and MU Football tickets/PFootb

all tickets = 10, to maximize utility, the consumer should by:_________
a. more coffee and more football tickets
b. less coffee and more football tickets
c. less coffee and fewer football tickets
d. more coffee and fewer football tickets
Business
1 answer:
katen-ka-za [31]3 years ago
4 0

Answer: d. more coffee and fewer football tickets

Explanation:

MU/P refers to the marginal utility gained per dollar of an alternative and rationale consumers are always expected to maximise their utility by picking alternatives that give them more utility as opposed to less.

The MU/P for coffee is 20 whilst that of football tickets in 10. This means that more utility is gained from getting more coffee as opposed to football tickets. The action that would maximise utility would therefore be one where the consumer gets more coffee and fewer football tickets.

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Edmund must pay $6 each for punk rock video cassettes, ????. Edmund is paid $24 per sack for accepting garbage, ????, and his re
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Answer:

The equation for Edmund's budget line is 6C - 24G = 48

Explanation:

A budget line shows all possible combinations of two commodities that a consumer can buy at a given income level and at given market prices of commodities. The equation of the budget line is as follows.

M = (Px).X + {Py).Y where

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Py = Price of commodity Y

Y = Units of commodity Y purchased

In this question, Edmund's income is $48. Let C represent the units of punk rock video cassettes that he buys. Each one costs $6.

In addition, rather than spending on another commodity, he earns $24 per sack for accepting garbage. Let G represent the number of garbage sacks he accepts. Putting these values in the above equation, we have:

48 = 6C - 24G

Rearranging the equation, we have the final answer, which is:

6C - 24G = 48

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When a company purchases another company and the purchase price is greater than the fair value of the net assets acquired, this
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Answer:

Goodwill

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When the company purchase another company and its purchase price is more than the fair value of the net asset so the excess amount would be called as a goodwill

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