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mestny [16]
3 years ago
11

Suppose Barry is maximizing his utility from consuming used paperback novels and audio books. The price of a used novel​ = $4 an

d the price of an audio book​ = $8. If the marginal utility of the last novel was 32 units of utility​ (utils) what was the marginal utility of the last audio book​ purchased? A. 2 utils B. 12 utils C. 16 utils
Business
1 answer:
melamori03 [73]3 years ago
7 0

Answer:

None of the answers is correct, it should be 64 utils

Explanation:

If Barry's utility from consuming a used novel is 32 utils and the book costs $4, he was able to get 8 utils per dollar (= 32 / $4).

If an audio book costs $8, then Barry should obtain $8 x 8 utils per dollar = 64 utils.

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Lehman Corp. has two departments: Assembly and Testing. Assembly department had beginning inventory of 750 units which were 50%
algol13

Answer:

Total equivalent unit     1,425 units

Explanation:

<em>Under the first-in -first out system, to account for the units completed in a period, it is assumed that the opening inventory units are first completed and the balance represents the newly introduced.</em>

<em>Fully worked represents unit of inventory started this this period and completed this period</em>

Fully worked = completed units - opening inventory

Fully worked = 1200 -750 = 450 units

Item                        Units                                     Equivalent Units

Opening WIP         750     750×50%                     375

Fully worked          450      450× 100%                   450

Closing WIP           800       800× 75%                 <u> 600</u>

Total equivalent unit                                              <u>1,425</u>

Note the opening inventory has 50% work done last period so the balance of 50% i.e (100 - 50)  is completed this period

     

5 0
3 years ago
Cork Inc. declared a $160,000 cash dividend. It currently has 6,000 shares of 7%, $100 par value cumulative preferred stock outs
Ira Lisetskai [31]

Answer:

$124,000 is the correct answer if we use 6% which is the correct question scenario. If we take 7% then its

Explanation:

The cash dividend announced is $160,000. Remember the first payment goes to preferred shareholders and then the amount left would be distributed among the ordinary shareholders.

The dividend share of Preferred shareholders = 6000 shares * $100 par value * 6% fixed rate = $36,000

After deducting this amount from the dividend announce will go to ordinary shareholders and is calculated as under:

Share of Dividend of ordinary shareholders = $160,000 - $36,000

= $124,000

Similarly if we use 7% fixed rate, then

The dividend share of Preferred shareholders = 6000 shares * $100 par value * 7% fixed rate = $42,000

After deducting this amount from the dividend announce will go to ordinary shareholders and is calculated as under:

Share of Dividend of ordinary shareholders = $160,000 - $42,000

= $124,000

5 0
3 years ago
Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the followin
Tasya [4]

Answer:

See below

Explanation:

The below shows the calculation of variance

Budgeted direct labor (per unit) 0.60

Units 2,000

Budgeted direct total labor (hrs) 1,200

Actual hours 1,160

Standard rate $17

Direct labor efficiency variance

The direct labor efficiency variance

= (Budgeted hours - Actual hours) × Standard rate

= (1,200 - 1,160) × $18

= $720 favourable

7 0
3 years ago
1) Decide whether you would expect relationship between the following pairs of dependent and independent variables (respectively
kvasek [131]

Answer:

(a) GDP is a dependent variable and aggregate net investment is a independent variable. There is a positive relationship between the variables which means that an increase in the net investment will lead to increase GDP.

(b) There is a negative relationship between the variables which means that as the supply of wheat increases, as a result price of wheat falls. So, as the number of acres of wheat planted in a season  increases as a result price of wheat decline.

(c) There is a negative relationship between the variables which means that an increase in the interest rate in an economy will lead to increase the cost of borrowings and hence, net investment falls.

(d) There is a negative relationship between the variables because of the law of demand. It states that an increase in the price of a commodity will lead to reduce the quantity demanded for that commodity.

(e) There is no relationship between these variables. Both the variables are totally uncorrelated.

4 0
3 years ago
Industry-level strategy is a corporate strategy that addresses the question "how should we compete against a particular firm in
Alik [6]
The answer is false.
8 0
3 years ago
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