Julio's marginal rate of substitution equals is: 0.38, which is the price of food divided by the price of clothing.
<h3>Marginal rate of substitution</h3>
Using this formula
Marginal rate of substitution=Price of food/Price of clothing
Let plug in the formula
Marginal rate of substitution=$3 per unit/$8 per unit
Marginal rate of substitution=0.375
Marginal rate of substitution=0.38 (Approximately)
Therefore Julio's marginal rate of substitution equals is: 0.38, which is the price of food divided by the price of clothing.
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Answer:
1. The elasticity of demand for movie tickets must be INELASTIC.
2. Demand curves become LESS elastic in the long run. This means that the ticket price increase will likely be MORE profitable in the long run.
Explanation:
1. As demand is inelastic, the percentage of price increase will be greater than the decrease in the quantity of tickets demanded, and consequently profit will increase.
2. In the long term, demand becomes inelastic. Consequently, in the long term the percentage of the price increase will continue to be greater than the percentage of decrease in the quantity of tickets demanded.
Answer:
The answer is: Jamison has $175 in taxes due.
Explanation:
To determine the amount of taxes that Jamison still has to pay, we can use the following formula:
Taxes due = tax liability - (taxes withheld by employer + tax credits)
Taxes due = $7,200 - ($4,400 + $2,625) = $7,200 - $7,025 = $175
Jamison has $175 in taxes due.
Answer:
No.
Explanation:
You said if you charge, so it will only charge your phone. You aren't able to upload photos directly to an Xbox.
Although, if you are pc, you can upload a custom gamerpic easily.
(An example would be a gamerpic, you need the app in order to have a custom gamerpic because it accesses your files).
