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IrinaK [193]
3 years ago
5

Consumers in Georgia pay twice as much for avocados as they do for peaches. However, avocados and peaches are equally priced in

California. If consumers in both states maximize utility, will the marginal rate of substitution of peaches for avocados be the same for consumers in both states? If not, which will be higher?
Business
1 answer:
Ugo [173]3 years ago
4 0

Answer: Explanation:

The marginal rate of substitution of peaches for avocados is the maximum amount of avocados that a  person is willing to give up to obtain one additional peach. When consumers maximize utility, they set their MRS equal  to the price ratio,  Pp/PA

where ,

P p  is the price of a peach and

PA is the price of an avocado.

In Georgia,  avocados cost twice as much as peaches, so the price ratio is ½ , but in California, the prices are the  same, so the price ratio is 1. Therefore, when consumers are maximizing utility (assuming they buy  positive amounts of both goods), the marginal rates of substitution will not be the same for consumers  in both states. Consumers in California will have an MRS that is twice as large as consumers in Georgia.

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The form of departmentalisation that the construction company responsible for building the taxi rank followed was <u>product departmentalization</u><u>.</u>

Product departmentalization is peculiar to a bug company that deals with multi-products. Construction company may be responsible for taxis, trucks or buses. Construction company responsible for taxi rank in this case grouped all the activities related to the taxis in a specific department.

Product departmentalization becomes vital when producing, marketing, and handling of every product hold certain importance for the company. It requires the company to ensure specialized production facilities.

<h3>What is departmentalization?</h3>

Departmentalization is an establishment structure that divides people into groups, or departments, based on certain sets of criteria. These departments have their own leadership and work together to complete tasks.

Therefore, the correct answer is as given above

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7 0
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Which of the following contingent liabilities would require a company to record a note to the financial statements
SOVA2 [1]

The following contingent liabilities would require a company to record a note to the financial statements:-

a.) The liability is possible and cannot be reasonably estimated.

b.) The liability is probable and cannot be reasonably estimated.

c.) The liability is possible and is estimated to be $35,000.

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Eligible contingent liabilities are recognized as expenses on the income statement and as liabilities on the balance sheet. If the chance of accidental loss is low, i. H. With a probability of less than 50%, the liability should not be recognized on the balance sheet.

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<em>Your question is incomplete. please read below to find the full content.</em>

Which of the following contingent liabilities would require a company to record a note to the financial statements

The liability is possible and cannot be reasonably estimated.

The liability is probable and cannot be reasonably estimated.

The liability is remote and estimated to be $15,000.

The liability is possible and is estimated to be $35,000.

The liability is remote and cannot be estimated.

The liability is probable and estimated to be $40,000.

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3 years ago
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It would therefore be in Country Q's best interest to trade as this would increase their employment figures and GDP on account of higher production.

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