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Elina [12.6K]
3 years ago
12

Mitchell's money income is $150, the price of X is $2, and the price of Y is $2. Given these prices and income, Mitchell buys 50

units of X and 25 units of Y. Call this combination of X and Y bundle J. At bundle J, Mitchell's MRS is 2. At bundle J, if Mitchell increases consumption of Y by 1 unit, how many units of X must he give up in order to satisfy his budget constraint
Business
1 answer:
MissTica3 years ago
4 0

Answer:

1 unit of X must be sacrifised to gain a unit of Y, with satisfying Budget Constraint .

Explanation:

Budget Line shows the product combinations that a consumer can buy with given prices & money income (spending all) . Equation : P1X1 + P2X2 = M

Price ratio slope of the budget line i.e = P1/P2 : shows the amount of a good needed to be sacrifised to gain a unit of the other good , given prices & income.

So, Price Ratio : PX / PY = 2 / 2 = 1 in this case; implies 1 unit of Good X is needed to be sacrifised to gain a unit of good Y with given prices & income.

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Diehl Cleaners has the following balance sheet items. Classify each item as an asset, liability, or owner’s equity. Accounts pay
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Answer:

Assets : Cash, Accounts receivable, Equipment

Liabilities : Salaries and wages payable,  Accounts payable,  Notes payable

Owners Equity : Owner’s capital

Explanation:

Assets are valuable things owned by a business, to which firm's present or future monetary economic benefit can be entitled.

Cash , Account receivables (from debtors who owe money to us) , Equipments are all beneficial ownerships and hence are Assets.

Liabilities are financial burden of the business, the amount business owes to others.

Salaries and wages payable, Accounts payable (from creditors to whom we owe money), Notes payable are all financial obligations to be fulfilled by business - so are liabilities of business.

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3 years ago
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Explanation:

6 0
2 years ago
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During the 1920s, more people began to acquire shares of stock using
oksian1 [2.3K]

Answer:

Wait in line before trading

Explanation:

1920s stock brokerages. When a normal person wanted to buy or sell shares, they had to run to the next broker and sometimes wait in line before making their trade.

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Suppose you're pitching in a softball game and facing a good hitter. you remember that you struck her out with a fastball the la
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8 0
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A firm practicing third-degree price discrimination may:
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Answer:

(B) I and II 

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I hope my answer helps you.

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