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.
If it is greater than or equal to the price.
hope this helps
C. expected profit margins
the mission statement provides information about the company as to who, why and how they plan to operate
Answer: a lot more
Explanation: Organizations and businesses buy a lot more than consumers. They purchase industrial goods in large quantities to further process or use in their own business operations.
Answer and Explanation:
The journal entries are shown below:
On Apr 2
Petty cash $290
To Cash $290
(Being the establishment of the petty cash fund is recorded)
For recording this we debited petty cash as it increased the cash and credited the cash as it reduced the assets
On Apr 10
Mail & Postage $62
Contributions and Donations $33
Meals & entertainment $114
Cash Short and Over $4 ($290 - $62 - $33 - $114 - $77)
To Cash $213
(Being the replenishment of the fund is recorded)
For recording this, we debited the mail & postage, contributions & donations, meals & entertainment as it increased the expenses and credited the cash as it reduced the assets and the balancing figure is debited to cash short and over
On Apr 11
Petty Cash $140 ($430 - $290)
To Cash $75
For recording this we debited petty cash as it increased the cash and credited the cash as it reduced the assets
