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padilas [110]
3 years ago
13

Assume that Maia spends all of her income on halvah (H) and pomegranates (P) and is purchasing the optimal consumption bundle. I

f MUH/MUP = 3 and the price of halvah is $12, then the price of pomegranates must be:_________.
A. $36.
B. $12.
C. $3.
D. $4.
Business
1 answer:
mamaluj [8]3 years ago
5 0

Answer:

The correct answer is:

$4 (D.)

Explanation:

From the question, we are told that:

the price of halvah (MUH)= $12

the price of pomegranates (MUP)= ????

Next, we are also told that the optimal consumption ratio of MUH to MUP = 3

This means that the Mauginal Utility of halvah (H) to the marginal utility of pomegranates (P) = 3

MUH/MUP = 3

12/MUP = 3

MUP = \frac{12}{3} = 4

MUP = $4

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The term <u>price taker</u> refers to a firm operating in a perfectly competitive market that must take the prevailing market price for its product. Read below about a perfectly competitive market.

<h3>What is a perfectly competitive market?</h3>

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learn more about price taker: brainly.com/question/15416827

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6 0
2 years ago
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Explanation:

Direct Labor rate Variance = Actual Hours * Actual Rate- Actual Hour * Standard Rate

Direct Labor rate Variance = 24840*15- 24840*14

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