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
klasskru [66]
3 years ago
8

2. At a consumer optimum, for all goods purchased, marginal utility per dollar spent is equalized. A high school student is deci

ding between attending Petersburg University and Fairfax University. The student cannot attend both universities, but the reputation of Petersburg is slightly higher, as is the tuition. Use the rule of consumer optimum to explain how the student will go about deciding which university to attend.
Business
1 answer:
Greeley [361]3 years ago
4 0

Answer:

The high school student should analyze the point at which the marginal cost equals the marginal benefit.

In other words, he or she should see if the increased costs of attending Petesburg University are more or less equal to the increased benefit that is gained from graduating from a more prestigious university.

The student should also analyze the possible opportunity cost in the future. Attending amore renowned college can result in better job prospects than doing otherwise. Higher salaries in the future could be given up if he or she chooses the cheaper option.

You might be interested in
There is no demand for a certain commodity when the unit price is $200 or more, but the demand increases by 200 units for each $
nikitadnepr [17]

Answer:

y = -0.05x + 200

Explanation:

Two points are available ($200, 0), ($190, 200)

We find the equation from these two points.

Slope = (190-200)/(200 -0) = -10/200 = -0.05

Now, we write the equation of line with scope m=-0.05 and point (0. 200)

y-200 = -0.05(x-0)

y = -0.05x + 200 (Demand equation)

8 0
3 years ago
Who would be more likely to join the cross-country team (individual sport) instead of the volleyball team (team sport) and want
fgiga [73]

Answer: Introvert with a high need for power

Explanation: An Introverted individual is one who is considered more thoughtful than social, with a personality more inwardly than outwardly directed and as one who often prefers to have time in non-social situations. Given this, an introvert with a high need for power, however, would be more likely to join the cross-country team, which is an individual sport, rather than the volleyball team (team sport) and want to be captain of the team rather than just be a member.

4 0
3 years ago
Read 2 more answers
What effect do my communication skills have on my ability to pursue, obtain and excel at my job?
Roman55 [17]
Depending on what you work at if you are a hard worker you can excel at many things. If you speak 2 languages that can also help you go up. So does your personality
6 0
3 years ago
Michael's Machine Shop reports the following information for the quarter.
Mandarinka [93]

Answer:

a. $26

b. $23

c. $34

d. $29

e. $21

f.  $11

g. $14

h. $11

Explanation:

a. Variable cost per unit.

Variable cost per unit = Variable Manufacturing Costs + Variable Non - Manufacturing Costs

                                    = $12 + $9 + $2 + $3

                                    = $26

b. Variable production cost per unit.

Variable production cost per unit = Variable Manufacturing Cost

                                                       = $12 + $9 + $2

                                                       = $23

c. Full cost per unit.

Full cost per unit = Manufacturing and Non - Manufacturing (Variable and Fixed)

                            = $12 + $9 + $2 + $3 + $47,500/23,750 units + $142,500/23,750 units

                            = $12 + $9 + $2 + $3 + $2 + $6

                            = $34

d. Full absorption cost per unit.

Full absorption cost per unit = Variable Manufacturing Costs + Fixed Manufacturing Costs

                                                = $12 + $9 + $2 + $6

                                                = $29

e. Prime cost per unit.

Prime cost per unit = Direct Manufacturing Costs'

                                = $12 + $ 9

                                = $ 21

f. Conversion cost per unit.

Conversion cost per unit = Direct Labor Costs + Overheads Costs

                                         = $9 + $2

                                         = $11

g. Contribution margin per unit.

Contribution margin per unit = Sales - Variable Costs

                                                = $ 40 - $26

                                                = $ 14

h. Gross margin per unit.

Gross margin per unit = Sales - Full absorption cost per unit

                                     = $40 - $29

                                     = $11

3 0
3 years ago
The Demand Curve is a line that is
Levart [38]

Answer:

A. At high prices, people want a small quantity. At low

Explanation:

7 0
2 years ago
Other questions:
  • The Churchill Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inv
    12·1 answer
  • Jose does not have a retirement plan at work. He currently earns $30,000 in salary and is in the 15% marginal tax bracket. If he
    7·1 answer
  • When workers are a part of a team their compensation should be?
    13·1 answer
  • Why do we have to pay taxes
    8·1 answer
  • Property taxes are based on
    6·2 answers
  • Question 5 (60 points)
    14·1 answer
  • A one page document that introduces you, your skills and background and asks for an interview is an example of what type of
    7·1 answer
  • Pettygrove Company had 1,800,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $
    11·1 answer
  • Assume markup is based on cost. Find the dollar markup and selling price for the following problem.
    10·1 answer
  • At a single-phase, multiple-channel service facility, customers arrive randomly. Statistical analysis of past data shows that th
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!