1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bekas [8.4K]
3 years ago
12

Five consumers have the following marginal utilities of apples and pears: Consumer Marginal Utility of Apples Marginal Utility o

f Pears Dmitri 8 10 Frances 7 16 Jake 6 12 Latasha 5 9 Nick 4 8 The price of an apple is $1, and the price of a pear is $2. Which, if any, of these consumers are optimizing over their choice of fruit?
a. Dmitri
b. Frances
c. Jake
d. Latasha
e. Nick
Business
1 answer:
Leokris [45]3 years ago
5 0

Answer:

Options C and E

Only Nick and Jake are optimising over his choice of fruit?

Explanation:

The marginal utility obtained from the purchase of a product is the amount of satisfaction derived from purchasing an additional unit of the product.

The utility is maximised when the satisfaction in terms of marginal utilities obtained from each product is equal to each other.

We obtain this simply by dividing the marginal utilities for each fruit by their price, and comparing them.

Dmitiri:

Apples: 8/1 =8

Pears: 10/2 =5

8/1 is not equals to 10/2

Frances:

Apples: 7/1 =7

Pears: 16/2 =8

7 is not equals to 8

Jake:

Apples: 6/1 =6

Pears: 12/2 =6

The marginal utility is equal hence Jake's choice is optimal

Latasha:

Apples: 5/1 =9

Pears: 9/2 =4.5

9 is not equals to 4.5

Nick:

Apples: 4/1 =4

Pears: 8/2 =4

The marginal utility is equal hence Nick's choice is optimal

You might be interested in
Value chain analysis is a tool used to:
melamori03 [73]

Answer:

c)  understand the parts of the firm's operation that create value and those that do not.

Explanation:

Value chain analysis (VCA) is a process where a firm identifies its primary and support activities that add value to its final product and then analyze these activities to reduce costs or increase differentiation.

Value chain represents the internal activities a firm engages in when transforming inputs into outputs.

Value chain analysis is a strategy tool used to analyze internal firm activities. Its goal is to recognize, which activities are the most valuable (i.e. are the source of cost or differentiation advantage) to the firm and which ones could be improved to provide competitive advantage. In other words, by looking into internal activities, the analysis reveals where a firm’s competitive advantages or disadvantages are. The firm that competes through differentiation advantage will try to perform its activities better than competitors would do. If it competes through cost advantage, it will try to perform internal activities at lower costs than competitors would do. When a company is capable of producing goods at lower costs than the market price or to provide superior products, it earns profits.

7 0
3 years ago
Once an online catalog is in place, there are high costs in maintaining and accessing it.
Ket [755]

Answer:

False, once an online catalog is in place, there is little cost in maintaining it

5 0
2 years ago
The lower the user's switching costs:
JulijaS [17]

Answer:

more intense the competitive pressures posed by substitute products.

Explanation:

The lower the user's switching costs: the more intense the competitive pressures posed by substitute products.

Switching costs can be defined as the cost of a consumer switching from a product to a substitute good.

Therefore when such switching costs are low, it will be easier to switch from one product to another, implying that the competitive pressure from substitute goods are higher.

8 0
3 years ago
Read 2 more answers
The par value or stated value of stock represents the amount of legal capital that a corporation must maintain for the protectio
ohaa [14]

Answer:

True

Explanation:

This is the value of stock or share that was set by the owners of a corporation at the point of registration of the company. It is the price that is stated in the corporation's article of association and also in the share certificate. The par value of a share has no relationship with the market value as they can be far apart.

The par value is a value specified by law for the protection of the people who might want to extend credit to the corporation.

6 0
3 years ago
Assume that the resort town of Ocean View passed a law imposing an extra tax on boardwalk food businesses that used plastic cups
TEA [102]

Answer:

The answer is: A) Is the law rationally related to a legitimate government interest?

Explanation:

A legitimate government interest applies when a government (in this case municipal government) passes a law to protect the health, safety, and economy of it's citizens.

This law will probably be reviewed using a rational basis, which is the least strict type of legal scrutiny.

3 0
3 years ago
Other questions:
  • Property rights are
    7·1 answer
  • Power Plate Inc., a consumer electronics manufacturer, introduced a new solar cooker in the market. The team responsible for the
    5·1 answer
  • A business firm is collaborating on an initiative with a nonprofit organization by providing public-relations training to workin
    15·1 answer
  • Alpha Colony and Beta Colony both manufacture textiles and technology. Alpha Colony always produces higher quality textiles and
    13·1 answer
  • Jody borrowed $25,000 from her controlled corporation for six months. She used the funds to pay her daughter's college tuition.
    6·1 answer
  • Wyatt Co. has a probable loss that can only be reasonably estimated within a range of outcomes. No single amount within the rang
    10·1 answer
  • A one-month European call option on a non-dividend-paying stock is currently selling for $1. The stock price is $47, the strike
    12·1 answer
  • The allowance method of estimating uncollectible accounts receivable based on an analysis of receivables shows that $839 of acco
    5·1 answer
  • Which stage of the planning process is Jekyll Corp. involved in if it is assessing how well alternative plans meet high-priority
    8·1 answer
  • HELP PLEASE, 30 POINTS!! Cameron’s laptop no longer responds when he uses the keyboard or tracking pad. It most likely needs an
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!