Enter a logical function in cell F5 that calculates employee FICA withholding. If the employee is full-time and has at least one
dependent, then he or she pays 7% of the annual salary minus any deductions. All other employees pay 5% of the annual salary minus any deductions. Copy the function down through column F. Format the data in column F with Accounting Number Format.
1 answer:
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Answer:
Option (B) is correct.
Explanation:
The utility maximization point for a consumer is as follows:
It is given that,
price of Pepsi(x) = $1 per can
price of a hamburger(y) = $2
Marginal utility from Pepsi = 4
Marginal utility from hamburgers = 6
Hence,
4 > 3
Therefore, it can be seen that the consumer's utility is not maximized at this point.
Law of diminishing marginal utility states that as the consumer consumes more and more quantity of goods then as a result the utility obtained from the consumption goes on diminishing.
So, there is a need to increase the quantity of Pepsi consumed and reducing the quantity of hamburgers consumed.