Answer:
False
Explanation:
A certificate of Deposit or CD is a deposit made into a bank for a specific time. This deposit will earn a fixed interest rate that varies upon the days the deposit is made of. The rule is: Longer the days of the deposit, longer the interest rate paid.
Answer:
b
Explanation:
Marginal utility is the additional utility derived from consuming one more unit of a good
the consumption decision is to consume more units of a good that gives the higher utility per good.
Marginal utility per unit of good = marginal utility / price of the good
haircut = 2000 / 40 = 50
Nails = 1000 /25 = 40
the utility per unit for haircut is greater for haircut than nails, so he would choose haircut
When marginal utility is positive, it means that increasing consumption by one unit increases total utility
When marginal utility is negative, it means that increasing consumption by one unit decreases total utility
When marginal utility is zero, total utility has reached its maximum and no more units of goods would be consumed
Answer:
improvements to the building,
Explanation:
Opportunity cost is the foregone advantage of not setting certain options in decision making. When a particular option is preferred over others, then benefit from the other options not selected are forfeited. The forfeited benefits represent the opportunity cost.
The value of opportunity cost is equated to the value of the next best alternative. Where there were more than two alternatives available, the next best alternative from the chosen option becomes the opportunity cost. In this case, improvement to the building was voted the second preferred option; hence it becomes the opportunity cost.
The manufacturing business that smith used to illustrate the effects of division labor is the pin-making industry. Adam Smith is a Scottish economist which he was know for his book "An Inquiry into the Nature and Causes of the Wealth of Nations" was was until now used as a primary reference in economic studies.
Answer:
the break even price is $0.35
Explanation:
The computation of the break even price is shown below"
= (Variable cost + fixed cost) ÷ (Number of units sold)
= ($500 ÷ 2,000 ×10,000 + $1,000) ÷ (10,000 units)
= ($2,500 + $1,000) ÷ (10,000 units)
= $0.35
hence, the break even price is $0.35
We simply applied the above formula so that the correct value could come
And, the same is to be considered