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Rom4ik [11]
2 years ago
7

Suppose Joe is maximizing total utility within his budget constraint. If the price of the last pair of jeans purchased is $25 an

d it yields 100 units of extra satisfaction and the price of the last shirt purchased is $20, then, using the rule of equal marginal utility per dollar spent, the extra satisfaction received from the last shirt must be:
A) 2,000 units of utility.
B) 500 units of utility.
C) 100 units of utility.
D) 80 units of utility.
Business
1 answer:
inessss [21]2 years ago
6 0

Answer:

80 units

Explanation:

Given:

  • Price: $25 we have: 100 units
  • Price: $20, how many units to maximize the total utility

Let X is the number of units we need to find

As we know that, the law of equal-marginal utility a consumer spends his or her income among goods so that utilities receive from the amount spent is equal. So we use a simple rule of three:

$25    100 units of utility

$20      X

<=> 25X = 20*100

<=> X = 80 units

Hope it will find you well.

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Answer:

the amount must be borrowed is $8,900

Explanation:

The computation of the amount must be borrowed is shown below:

Opening cash balance $19,900

Add: cash receipts $244,400

Less: cash disbursements -$253,300

Cash balance after disbursements $11,000

Minimum monthly cash balance $19,900

Amount to be borrowed $8,900

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2 years ago
A credit granted to a customer for returned goods requires a debit to a. Accounts Receivable and a credit to a contra-revenue ac
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Answer:

d. Sales Returns and Allowances and a credit to Accounts Receivable.

Explanation:

The entry to record credit granted to customer entails :

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The Recognition of Sales Return and Allowance decreases Sales Revenue.

5 0
3 years ago
Starbucks is owns and operates most of its retail outlets; mcdonalds franchises most of its retail outlets. an advantage of fran
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3 years ago
Baden Company has gathered the following information. Units in beginning work in process 0 Units started into production 37,700
Flura [38]

Answer:

The materials equivalent units is 37,700

Conversion costs equivalent units is 32,480

Explanation:

The equivalent units of production for materials can be computed thus:

Description                   quantity           % of completion    Equivalent units

Completed units            29000              100                          29000

(37700-8700)

Ending inventory            8700                100                      <u>    8700</u>

total equivalent units for materials                                      37700

The equivalent units of production for conversion costs can be computed thus:

Description                   quantity           % of completion    Equivalent units

Completed units            29000              100                          29000

(37700-8700)

Ending inventory            8700                40                      <u>    3480 </u>

total equivalent units for conversion costs                       32480

I applied 100% percentage of completion to ending inventory when determining materials equivalent units and 40% percentage completion when determining equivalent units for conversion cots  as it given in the question

6 0
3 years ago
Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability poli
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Answer:

The balance in Eve's prepaid insurance account as of December 2021 is $18000 as shown below.

Explanation:

The balance of prepaid insurance would be the balance left after 12 months expense has taken from both amounts

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3 years ago
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