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artcher [175]
3 years ago
13

Suppose apples come in two quality​ levels, low quality and high quality. At a store in the​ apple-growing region, the price of​

low-quality apples is ​$1 per pound, and the price of high-quality apples is $4 per pound.
Timmy lives in the apple-growing region and buys 8 pounds of each type. His marginal utility of low-quality apples is 3 utils and his marginal utility of high-quality apples is 12 utils.
1. Is Timmy maximizing his utility?
Business
1 answer:
dedylja [7]3 years ago
5 0

Answer:

Yes.

Explanation:

Given that,

Price of​ low-quality apples = ​$1 per pound

Price of high-quality apples = $4 per pound

Marginal utility of low-quality apples = 3 utils

Marginal utility of high-quality apples = 12 utils

Equimarginal:

(Marginal utility of low quality apples ÷ Price per apple) = (Marginal utility of high quality apples ÷ Price per apples)

(3 utils ÷ $1) = (12 utils ÷ $4)

3 = 3

Yes, Timmy is maximizing his utility as his equimarginal utility is same for both the goods as shown above.

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Answer:

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as it relates to the prime factors of business and means of production

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Production or distribution is the correct answer
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Heims is an automobile manufacturing company. When the sales team in the company gets an order, the information reaches all asso
Hoochie [10]

Answer:

Enterprise resource planning system.

Explanation:

Heims seems to be using an enterprise resource planning (ERP) system to let relevant department members access to order status and fulfillment. It is not a customer relationship management (CRM) system, since this system is primarily used to manage the current customer relationship and to generate new sales lead. A CRM system is usually used by the sales team only, while ERPs are inter-departmental. It is most definitely not a risk and threat or environment and disaster management system, since the scenario occurring in Heims has do not require these systems.

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3 years ago
can someone help me for my obt project work can you say me how can I write object and conclusion on clay work of bear please....
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3 years ago
Flitter reported net income of $25,500 for the past year. at the beginning of the year the company had $216,000 in assets and $6
Brut [27]

Answer:

There are two ways in which Return on Assets can be calculated depending on whether we consider Total assets at year-end or average total assets.

Return on Assets = \frac{Net Income}{Total Assets at year end}   1

                                                          or

Return on Assets = \frac{Net Income}{Average Assets}       2

Substituting the values in equation 1 we get,

Return on Assets = \frac{25500}{316000}

Return on Assets = \frac{25500}{316000}

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Substituting values in equation 2 we get,

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4 years ago
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