Answer:
Consumers behave rationally, attempting to maximize their satisfaction.
Explanation:
The principle assumption upon which the theory of consumer behavior and demand is built is:
A consumer attempt to allocate their limited money income among available goods and services so as to maximize their utility (satisfaction).
Utility is described as an amount of satisfaction derived from the consumption of a commodity. Measurement units is utils.
Assume that consumers have complete information about availability, prices and utility levels of all goods and services. All bundles of goods can be ranked based on their ability to provide utility.
The theory is useful for understanding the demand side of the market.
Answer:
Average inventory= $41,750
Explanation:
Giving the following information:
Beginning Inventory= $37,200
Ending Inventory= $46,300
<u>To calculate the average inventory, we need to use the following formula:</u>
Average inventory= (beginning inventory + ending inventory) / 2
Average inventory= (37,200 + 46,300) / 2
Average inventory= $41,750
Answer:
true
Explanation:
this then narrows what resources both in material and finances have to be put into further marketing and sales of said products
<u>Calculation of Total Assets:</u>
Total assets based on the given transactions can be calculated as follows:
Cash Received from Investors $6,900
Add: Amount Borrowed from Local Bank $3,900
Add: Supplies Purchased on account $1,190
Add: Equipment purchased $6,900
Less: Cash Paid for purchase of equipment -$2,190
Total Assets = $16,700
Hence based on the given transactions, the company's total assets are <u>$16,700</u>
A
Explanation:
Because the judgement of executives does not adequately factor into a mathematical equation. it's like a judgement call only whereas the others can be used in an equation manner
