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
lutik1710 [3]
3 years ago
13

Suppose you have a fixed amount of income and spend equal amounts on two goods, X and Y. The price of good X is Px = $10, and th

e price of good Y is Py = $5. The marginal utility of X is MUx = 60 utils, and the marginal utility of Y is My = 15 utils. How should the consumption of X and Y change, if at all, to increase utility
Business
1 answer:
atroni [7]3 years ago
8 0

Answer:

More of good Y should be consumed to increase total utility.

Explanation:

The price of good X is Px = $10, and the price of good Y is Py = $5.

The marginal utility of X is MUx = 60 utils, and the marginal utility of Y is My = 15 utils.

The total utility from the consumption of the two goods will be maximized when the ratio of the marginal utility from last unit and the price of the good will be equal for both the goods.

The ratio for good X

= /frac{60}{10}

= 6

The ratio for good Y

= /frac{15}{5}

= 3

Since the ratio is greater for good X, the consumption should shift from good X to good Y in order to maximize utility.

You might be interested in
Successful consultative salespeople create value by helping customers understand​ ________.
liraira [26]
Successful consultative salespeople create value by helping customers understand their problems and help them find ways to overcome them.  They add value to what they are selling to the customer by paying attention to what the customer needs. They are aware and attentive to their clients. 
5 0
3 years ago
A trial balance prepared after adjustments have been recorded is called a(n):a. Unclassified balance sheet. b. Classified balanc
Aleks04 [339]

Answer:

e. Adjusted trial balance.

Explanation:

Adjusted trial balance -

It refers to the method of listing the account details of the company which are made after adjustment made after the year's end , is referred to as adjusted trial balance .

It is the fifth step in the accounting cycle , just before the production of the financial statements.

Hence , from the given statement of the question ,

The correct answer is e. Adjusted trial balance .

6 0
3 years ago
Margie is 15 and claimed as a dependent by her parents. she has $800 in dividends income and $1,400 in wages from a part-time jo
Vinil7 [7]
Under United States tax law, the standard deduction is a dollar quantity that non-itemizers may deduct from their income before income tax is applied. Taxpayers may select either itemized deductions or the standard deduction, either outcomes in the lesser amount of tax payable. The standard deduction is accessible to US citizens and aliens who are occupant for tax purposes and who are individuals, married persons, and heads of household. When filing her own tax return, Margie is limited to the greater of $1,050 or $1,750, it is solved by the sum of the earned income for the year plus $350.So the answer is $1,400 + $350 = $1,750
6 0
3 years ago
What two reasons are given for why wages differ between jobs?
serious [3.7K]
The efficiency of the worker and the level of skill required differ between occupations 
3 0
3 years ago
Hang Ten Company manufactures surf boards and uses an activityminusbased costing system to allocate all manufacturing conversion
lesya [120]

Answer:

Total= $ 321.25

Explanation:

Giving the following information:

Each surfboard consists of 30 separate parts totaling $ 155 direct​ materials and requires 3 hours of machine time to produce.

Materials handling: Number of parts $ 3.75 per part

Machining: Machine hours $ 2.00 per machine hour

Assembling: Number of parts $ 1.50 per part

Packaging: Number of finished units $ 2.75 per finished unit

Total manufacturing cost:

Direct materials= 155

Materials handling=$ 3.75* 30= $112.5

Machining: $ 2.00*3= 6

Assembling: $ 1.50*30= 45

Packaging: $ 2.75

Total= $ 321.25

7 0
4 years ago
Other questions:
  • Ursula, an employee of Ficus Corporation, is 35 years old and plans to retire in 20 years. The corporation has a qualified retir
    12·1 answer
  • What type of organization provides the liability advantages of a corporation, without the regulations corporations must deal wit
    8·1 answer
  • What is diminishing marginal returns?
    9·1 answer
  • Jack owned a stock for five months and earned an annualized rate of return of 6 percent. What was the holding period return?
    5·1 answer
  • Policies and standards are a collection of concrete definitions that describe acceptable and unacceptable human behavior. The qu
    10·1 answer
  • When workers intentionally reduce their productivity, it is called a(n)?
    7·2 answers
  • The amount of money that a worker's compensation claimant can recover
    12·1 answer
  • has sales of $39,230, costs of $12,930, depreciation expense of $2,630, and interest expense of $1,910. The tax rate is 22 perce
    15·1 answer
  • In year 2, Rocco changes its inventory method from the weighted-average to the FIFO method. If FIFO would have been used in year
    14·1 answer
  • You work for a company that provides payroll automation software to its clients. You are creating a program that will automate p
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!