Answer:
Reallocate spending from magazines to newspapers.
Explanation:
We are only given the utility provided by the last newspaper and the last magazine, but in order to answer the question I will consider that the utility remains the same from the first to the last unit.
Frank obtains 10 utils from purchasing each magazine and each newspaper:
- magazine = $5 / 10 utils = $0.50 per util
- newspaper = $2.50 / 10 utils = $0.25 per util
Frank obtains twice the utils from each dollar spent on newspapers than on magazines, so he should spend more money on newspapers.
Wow, someone talking about Dr. Juran. In my career I was able to actually attend a conference of which he was the main attraction. Not sure if your statement requires an answer besides, true or false.
Hope you find some real good info below about him and his focus. It wasn't MONEY.
The Juran trilogy:
Juran was one of the first to write about the cost of poor quality. This was illustrated by his "Juran trilogy," an approach to cross-functional management, which is composed of three managerial processes: quality planning, quality control, and quality improvement. Without change, there will be a constant waste; during change there will be increased costs, but after the improvement, margins will be higher and the increased costs are recouped.
Answer:
The demand curve would shift to the right
Explanation:
A monopolistic competition is when there are many buyers and sellers of differentiated goods.
Producers in a monopolistic competition usually engage in advertising.
Advertising increases the awareness of a good or service to consumers which should increase the demand for the good. Increase in demand for the good, would shift the demand curve of the good to the right.
I hope my answer helps you
Answer:
The expected profit is:
$5.
Explanation:
a) Calculations:
Profit from customers paying $10 = $6 ($10 - $4)
Profit from customers paying $8 = $4 ($8 - $4)
Expected profit from customers paying $10, = $6 x 0.5 = $3
Expected profit from customers paying $8, = $4 x 0.5 = $2
Total expected profit = $5.
The expected profit is the profit from customers paying $10 weighted with probability plus the weighted profit from customers paying $8. Adding the expected profit from each class of customers gives the overall expected profit combined.
Answer:
C All of the answers are correct
Explanation:
A market structure is termed as oligopoly when there are very few suppliers in a market of so many buyers. For oligopoly, the profit is maximized where the marginal cost equals the marginal revenue. If the marginal cost curve shifts upwards, it means that it increases. In an attempt to increase the cost in one firm, all the consumers will shift to the other firms, in an attempt to increase output, a company will make lesser profit. In this case, it means that the company will have to make use of non-price methods to compete. Therefore, the correct answer is C as the above given answers are all correct.
