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Katarina [22]
3 years ago
14

Suppose that the marginal utility of good Y = 2X2 and the marginal utility of good X = 4XY. What is the slope of the indifferenc

e curve when Y = 7 and X = 2? Assume that good X is on the horizontal axis and good Y is on the vertical axis.
Business
1 answer:
muminat3 years ago
8 0

Answer:

The slope of indifference curve is 7.

Explanation:

The marginal utility of good Y = 2X^2

The marginal utility of good X = 4XY

Given Y = 7

X = 2

The slope of the indifference curve is otherwise termed as the marginal rate of substitution. So, we can find the slope by dividing the marginal utility of Y by the marginal utility of X.

Slope = MUx / MUy

= 4XY / 2X^2

= 4Y / 2X

Now insert the value of X and Y.

= (4×7) / (2×2)

= 28/4

= 7  

Hence the slope of the indifference curve is 7.

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Answer:

Exercise 15-8

1. Raw materials purchases for cash.

Raw Materials $210,000 (debit)

Cash $210,000 (credit)

2. Direct materials usage.

Work In Process : Indirect Materials $186,000 (debit)

Raw Materials $186,000 (credit)

3. Indirect materials usage.

Work In Process : Direct Materials $15,000 (debit)

Raw Materials $15,000 (credit)

Exercise 15-9

1. Direct labor usage.

Work In Process : Direct Labor $265,000 (debit)

Salaries and Wages Payable $265,000 (credit)

2. Indirect labor usage.

Work In Process : Indirect Labor $80,000 (debit)

Salaries and Wages Payable $80,000 (credit)

3. Total payroll paid in cash.

Salaries and Wages Payable :  $345,000 (debit)

Cash  $345,000 (credit)

Explanation:

Raw Materials - T Account (To determine the Materials Transferred to Production)

Debit

Opening Balance                                                 $ 43,000

Add Purchases                                                    $210,000

Totals                                                                   $253,000

Credit

Closing Balance                                                   $ 52,000

Transferred to Production (Balancing figure)    $201,000

Totals                                                                   $253,000

Thus, Direct Materials = $201,000 - 15,000 = $186,000

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3 years ago
Suppose lawyers seek legislation to limit the use of computer software that enables people to use their personal computers to se
Harman [31]

Answer:

c. rent-seeking behavior

Explanation:

In economics, rent-seeking behavior can be described as a behavior or conduct that tries to increase the share of an economic agent or an entity from the existing wealth without adding or creating new wealth. This implies that the entity aims to obtain added wealth without creating a new one.

From the question, the aim of the lawyers is mainly to increase their own wealth in terms of legal fees they will collect from preparing wills, trusts, and other legal documents when they prepare them for people when a law restrict people from self-preparing it using their personal computers. In turn, the lawyers will only increase their share of wealth without adding any wealth.

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6 0
3 years ago
Wessner Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 6.20 Direct labor $
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Answer:

The correct answer is D: $13

Explanation:

Giving the following information:

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Direct labor $ 2.80

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Sales commissions $ 1.00

Variable administrative expense $ 0.55

Fixed selling and administrative expense $ 4,000

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Afina-wow [57]

Answer:

a. $21

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= $1,890,000

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