The exchange rate for converting the druba to the troon is1 troon = 1.5 druba.
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Explanation:</u></h3>
The amount in dollar that is obtained as the exchange rate in between two different currencies refers to the par value. This par value of currency depends on the exchange rates. Say for an instance, one British pound has the value of three U.S dollars and if an individual has 100 pounds, then $300 will be the par value in dollars.
The currency devaluations up to 10 percentage were allowed under the Bretton Woods system. This can also be done only getting approvals form the International Monetary Funds. When considering gold, the total amount of currency that is essential in purchasing one ounce of gold is known as gold par value. The exchange rate for converting the druba to the troon is 1 troon = 1.5 druba.
The kind of motivation at play based on the consumer’s behavior in the given scenario is <u>irrational motive</u>
There are two kinds of motives in consumer behavior which includes:
- Rational motives: This has to do with making a purchasing decision based on the best decision available that would give maximum satisfaction.
- Irrational (emotional) motive has to do with those decisions that a consumer makes based on how he <em>feels </em>about a particular product, without considering utility (satisfaction)
Based on the given scenario, we are told that Lila is going to purchase a couch and she goes to the store to get one. When she gets there, she notes a comfortable cushion, but makes the decision to get a less comfortable for "reasons she cannot explain". This is an example of Irrational (emotional) motive
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Answer:
20 more tons of pollution into the air, and Firm B will emit 100 fewer tons of pollution into the air.
Explanation:
It is given that :
Amount of tons of pollutants emitted by the two firms A and B earlier = 100 tons
Cost of pollutants by firm A = $ 200 per ton of pollutions
Cost of pollutants by firm B = $ 100 per ton of pollutions
Since the cost for eliminating the pollutants into the air is more for the firm A, the ticket is also more valuable for firm A. And therefore, firm A will buy all the tickets form firm B for an amount around $ 101 to $ 199. It will do so as to have a positive consumer and also to produce surplus.
So firm A will eliminate 20 tons of pollution and will use 80 ton capacity from the tickets. And for firm B, it will eliminate all 100 tons of pollutions.
Answer:
b. make fewer than 20 wedding cakes per month.
Explanation
Laura sells 20 wedding cakes per month.
Her monthly total revenue is $5,000.
Marginal Revenue = $5000 / 20 cakes = $250
The marginal cost of making a wedding cake is $300.
<em>In order to maximize profits, Laura should make fewer than 20 wedding cakes per month. </em>
<em>The reason is that Laura's marginal cost is higher than her marginal revenue implying that she is spending more on each item than she is gaining. </em>
<em>By reducing one unit of output she will be gaining more revenue.</em>
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Profit Maximization Rule Definition states that if a firm chooses to maximize its profits, it must choose that level of output where Marginal Cost (MC) is equal to Marginal Revenue (MR) and the Marginal Cost curve is rising. i.e. it must produce at a level where MC = MR.
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<em>Hence Laura has to make fewer cakes</em>
Answer:
Foster an innovative culture and climate that permits experimentation, risk-taking , and failure.
Explanation:
The director of the new product development in the given case comes across that even after the proper research done by his team regarding the product acceptance by the consumers the outcome was not the same.
In order to keep his team open to innovation the director Rinn should encourage and develop an environment of creating new ideas and products which should open up the scope for experiments , risks and failure of the product keeping in mind that all experiments does not necessarily leads to positive results and involves risks as well.