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3 years ago

What role does utilityLOADING... play in the economic model of consumer behavior? When modeling consumer behavior, utility

Business

1 answer:

posledela3 years ago

6 0

Answer:

The correct answer is option A.

Explanation:

In the theory of consumer behavior, the term utility is used to define the level of satisfaction derived by a consumer from the consumption of a good or service.

There are two methods to present utility.

Cardinal Utility
Ordinal Utility

The method of cardinal utility measures utility in the quantitative term where its units are called utils. The ordinal utility expresses utility in relative terms as high and low.

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3 years ago

A hardware store makes a profit of $30,000 during its first year. The store owner sets a goal of increasing profits by $4000 eac

MrMuchimi

Answer:

$294,000

Explanation:

Data provided in the question:

Profit during the first year = $30,000

Increase in profit each year = $4,000

Now,

Profit for the current year = Profit for the previous year + $4,000

Therefore,

Year Current year profit

1 $30,000

2 $34,000 [$30,000 + $4.000]

3 $38,000 [$34,000 + $4.000]

4 $42,000 [$38,000 + $4.000]

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6 $50,000 [$46,000 + $4.000]

7 $54,000 [$50,000 + $4.000]

Hence,

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3 years ago

What is Silent viewing in marketing

adelina 88 [10]

Answer:

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Explanation:

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3 years ago

Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Nady [450]

Answer:

the total period cost for the month under variable costing is $46,700

Explanation:

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Fixed manufacturing overhead $ 13,530

Fixed selling and administrative expense $ 25,680

Total period cost for the month $46,700

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3 years ago

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What role does utilityLOADING... play in the economic model of consumer​ behavior? When modeling consumer​ behavior, utility

What role does utilityLOADING... play in the economic model of consumer behavior? When modeling consumer behavior, utility