Answer:
Consumers should choose to take the flight.
Explanation:
The price of a rental car = $50
Marginal utility from the car = 20 utils
Now find the per dollar utility from car = $50 / 20 = 2.5
The price of a flight = $85
Marginal utility from the flight = 30 utils
Now find the per dollar utility from flight = $85 / 30 = 2.83
Since the per dollar, MU is greater in the case of flight so consumers should choose to take the flight.
Answer:
$335,428
Explanation:
The computation of the plane operating cost is shown below:
Plane Operating Cost = Fixed cost + (Variable cost per unit × quantity) + (Variable cost per unit × quantity)
= $41,490 + ( $2,839 × 101 flights) + ($23 × 313 passengers)
= $41,490 + $286,739 + $7,199
= $335,428
We only considered the planned activity as we have to compute the plane operating cost for the planning budget
Answer:
A.$2,619
B.$6,800
C.$839
D.$495
Explanation:
Calculation to Determine the amount to be paid in full settlement of each of the invoices,
a) (2,800-200)*99%+45
=2,600*99%+45
=2,574+45
= $2,619
b) (7,600-800)
= $6,800
c)$1,400 – $600 – $16 + $55
=$784+$55
= $839
d)$500 –$5 = $495
Answer:
$43
Explanation:
The total cost incurred by the company is made of two classes of cost namely; Fixed and variable cost. While the fixed cost is constant, the variable cost is dependent on the number of tractors produced.
A such,
Fixed cost = $550,000
Variable cost = 22000 × $180 = $396,000
Total cost = $550,000 + $396,000
= $946,000
The average cost per tractor is the result of the ratio of the total cost to the number of tractors
average cost per tractor = $946,000/22,000
= $43
Answer:
See as below
Explanation:
1. A graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices.
Supply curve: <em>The supply curve is upward sloping. It originates from the bottom left corners and rises as prices increase.</em>
<em> </em>
2. The claim that other things being equal, the quantity supplied of good increases when the price of that good rises.
Law of supply:<em> The law of supply asserts that there is a positive or direct relationship between price and quantity supplied. Firms are willing to supply more at higher prices to make more profits.</em>
3. The amount of a good that sellers are willing and able to supply at a given price.
Quantity supplied:<em> </em><em>Quantity supplied denotes a numerical value that firms are willing to sell at the given price. A high selling is a motivation for producers to supply more. </em>
4. A table showing the relationship between the price of a good and the amount of it that sellers are willing and able to supply at various prices. supply schedule
Supply schedule: <em>A supply schedule shows the quantities that producers are willing to sell at different prices in a period. It illustrates how the price affects the quantities supplies are willing to sell.</em>
