1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
In December of Year 4, John (a cash-basis taxpayer) received a $2,000 payment from Tom who signed a year's lease to rent John's
larisa86 [58]

Answer:

John should include $1,600 as rental income on his Year 4 tax return as a result of the $2,000 payment.

Explanation:

As a cash-basis taxpayer, John's taxable income is based on the actual cash receipts and payments made in the accounting period.  The refundable part of the rent should not be included as rental income since it is a security deposit that would be returned at the end of the lease period.  If John were an accrual-basis taxpayer, the rental income to be included would have been only $800 representing income for Year 4.

6 0
2 years ago
Closing the Accounts of a Merchandiser From the following list, identify the accounts that should be closed to Income Summary at
mixer [17]

Answer:

Advertising Expense , Cost of Merchandise Sold , Merchandise Inventory, Sales,Supplies Expense are closed to income summary account. Revenues and expenses are closed to Income Summary.

Explanation:

Closing Entries

a. Accounts Payable:  No it is not closed to income summary account.

b. Advertising Expense:  Yes it is  closed to income summary account.

c. Cost of Merchandise Sold: Yes it is  closed to income summary account.

d. Dividends : No these are closed To Retained Earnings Accounts.

e. Merchandise Inventory : Yes it is  closed to income summary account

f. Sales Yes it is  closed to income summary account

g. Supplies:  No prepaid supplies are an asset account and it is included balance sheet.

h. Supplies Expense: Yes it is  closed to income summary account

i. Wages Payable: Not closed in the income summary account.

These are liabilities and included in the balance sheet.

8 0
3 years ago
As the owner of a party store, you have decided to lower the price for all balloons this month. What do you expect to happen?
Ulleksa [173]

Answer:

Quantity demanded for balloons will increase.

Explanation:

According to the law of demand, there is an inverse relationship between the price of the commodity and the quantity demanded for that commodity.

This means that if there is an increase in the price of a good then as a result the quantity demanded for that good decreases and on the other hand if there is a fall in the price of a good then as a result the quantity demanded for that good increases.

Therefore,

Fall in the price of balloons will lead to increase the quantity demanded for balloons.

3 0
3 years ago
Which of these is most likely to make you sleepy while you’re reading?
irinina [24]

answer options ? I cant answer without options lol



4 0
3 years ago
Suppose real GDP for a country is $1,200 billion. The GDP price index is 114.6. There are 25 million workers who work 36 hours p
8_murik_8 [283]

Answer:

1,333.33

Explanation:

Labor productivity is measures the hourly output of a country's economy. Specifically, it charts the amount of real gross domestic product (GDP) produced by an hour of labor.

total labor hours = 25milion x 36 hours per week

                            = 900 million

labor productivity = GDP ÷ total labor hours

labor productivity = $1,200 billion ÷ 900 million

                                $1,333.33 per hour

4 0
3 years ago
Other questions:
  • One of the important questions Jerome needs answered about his potential career is whether he will be working outdoors, because
    8·2 answers
  • It is anticipated that the worldwide shortage of highly skilled, college-educated workers will increase significantly by 2020, a
    15·1 answer
  • the cost object(s) of the activity-based costing method is(are): Multiple Choice The unit of product. The production departments
    11·1 answer
  • The current one-year T-bill rate is .33 percent and the expected one-year rate 12 months from now is 1.30 percent. According to
    14·1 answer
  • ABC Company is a manufacturing firm. At the beginning of July, ABC had a total inventory balance of $48,000. During the month of
    13·1 answer
  • MacKenzie Company sold $300 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% serv
    7·1 answer
  • The Keynesian analysis of
    8·1 answer
  • You are an engineering technologist employed by H. L. Winman and Associates, and you are engaged in a lake-level measurement pro
    10·1 answer
  • Blight Financial has an investment in bonds issued by Searing Industries that are classified as trading securities. At December
    15·1 answer
  • What is meant by trigonometric ratios?​
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!