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marshall27 [118]
2 years ago
13

While eating at Alex’s "Pizza by the Slice" restaurant, Clara experiences diminishing marginal utility. She received 10 utils fr

om consuming the first slice of pizza and would only receive 5 utils from consuming a second slice, at the same price. Based on this information we can conclude that
Alex may have to lower the price to convince Clara to buy a second slice.
Clara will not eat a second slice, even if it is given to her at no charge.
Clara will definitely want to buy a second slice of pizza.
Even if Clara buys a second slice, she will not buy a third slice.
Business
1 answer:
klemol [59]2 years ago
6 0

Answer:

Alex may have to lower the price to convince Clara to buy a second slice.

Explanation:

Marginal utility is an economic concept that says that a consumer recieves more marginal utility in the first consumption of a good or services than in the second and the subsequents. In fact with each consumption the marginal utility reduces, this effect is known as diminishing marginal utility.

One of the the methods to reduce the effects of the diminishing marginal utility is to reduces prices. As the utility of a product decreases as its consumption increases, consumers are willing to pay smaller amount of money for more of the product.

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Mr. Jacob, who is terminally ill, writes a will transferring all his assets to his daughter Silvia, in the event of his death. T
Anit [1.1K]

Answer:

Invalid

Explanation:

Since it is stated in the will, that upon his death should the assets be transferred, it means that Silvia doesn't get anything until Mr Jacob ceases to be alive.

With the new development as regards Mr Jacob living for 6 more months before dying, Silvia has no assets yet and as such cannot transfer anything to Jacob Jnr.

Cheers

8 0
3 years ago
What famous economist developed the principle of comparative advantage as we know it today?
andreyandreev [35.5K]
Adam Smith was the first who alluded to the concept of comparative advantage. This concept has later been elaborated by David Ricardo.
8 0
3 years ago
As a result of differences between depreciation for financial reporting purposes and tax purposes, the financial reporting basis
Verizon [17]

Answer:

Deferred tax liability = $52,500

Explanation:

Difference between depreciation for financial reporting purposes and tax purposes at December 31 = 250,000

Enacted tax rate = 30%

Tax rate for future years = 40%

so Deferred tax liability = $250,000 x 40% = $100,000

8 0
3 years ago
The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in produ
cestrela7 [59]

Answer:

D. 20 days

Explanation:

Daily usage rate: 50 kg each day

Order size: 1,000 kg

lead time: 4 days

Since the question just wants to know the length of an order cycle, all of the monetary information can be disregarded.

The company must maintain a stock, at the time of order, big enough to supply production during the lead time. Minimum stock should be:

Min = 50\frac{kg}{day} * 4\ days\\Min = 200 \ kg

Therefore, the company must reorder when stock reaches 200 kg. The length of the order cycle is the number of days for the company to reach minimum stock added to the order lead time:

C = \frac{1000 - 200}{50} +4\ days\\C= 20\ days

7 0
3 years ago
Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholde
djverab [1.8K]

Answer:

A. Jan-01

Dr Cash 35,000

Cr Common stock 35,000

Apr-01

Dr Cash 5,940

Cr Common stock 5,940

B. Jan-01

Dr Cash 35,000

Cr Common stock700

Cr Additional paid-in capital 34,300

Apr-01

Dr Cash 5,940

Cr Common stock110

Cr Additional paid-in capital 5,830

Explanation:

a. Preparation of the journal entry to Record the transactions, assuming Clothing Frontiers has no-par common stock.

Jan-01

Dr Cash 35,000

(700 shares*$50 per share)

Cr Common stock 35,000

Apr-01

Dr Cash 5,940

Cr Common stock 5,940

(110*$54 per share)

b. Preparation of the journal entry to Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock.

Jan-01

Dr Cash 35,000

(700 shares*$50 per share)

Cr Common stock700

Cr Additional paid-in capital 34,300

(35,000-700)

Apr-01

Dr Cash 5,940

(110*$54 per share)

Cr Common stock110

Cr Additional paid-in capital 5,830

(5,940-110)

6 0
2 years ago
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