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VikaD [51]
3 years ago
14

Suppose a consumer had a budget of $125. The price of Good X is $5 and the price of Good Y is $7.50. Calculate value of the x-in

tercept of the budget line.
Business
1 answer:
Fynjy0 [20]3 years ago
7 0

Answer:

The value of the x-intercept of the budget line is 25.

Explanation:

Based on the question, the budget line equation is as follows:

X5 + Y7.5 = 125 ......................... (1)

Where;

X = Unit of commodity X or value of the x-intercept of the budget line

Y = Unit of commodity Y or value of the y-intercept of the budget line

To calculate value of the x-intercept of the budget line, we assume that Y = 0. Substituting Y = 0 into equation (1) and solve for X, we have:

X5 + (0 * 7.5) = 125

X5 = 125

X = 125 / 5

X = 25

Therefore, the value of the x-intercept of the budget line is 25.

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If you were told that your credit score was 700, how would you judge that number?
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3 years ago
How van an oligopoly cause market failure (8)​
Sladkaya [172]

The correct answer to this open question is the following.

Although there are no options attached we can say the following.

An oligopoly can cause market failure because companies that form the oligopoly do not allow other companies to enter and compete in the market. This action limits consumers to choose from a variety of options, including quality, the best price, and service.

Often, oligopoly associates the strongest or more powerful companies in order to wipe out other minor competitors. They want to establish a dominant presence that affects prices and consumers participation.

Oligopoly practices result in inefficiency and instability in the market. That is why oligopolies are not good for the economy.

The automobile industry is mostly associated with an oligopoly.

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6 0
3 years ago
Write short notes on-: <br>a)Micro enterprises <br>b)cottage industry ​
Effectus [21]

Answer:

cottage industry is a small-scale, decentralized manufacturing business often operated out of a home rather than a purpose-built facility

Explanation:

6 0
3 years ago
A vintner is deciding when to release a vintage of Sauvignon Blanc. If it is bottled and released now, the wine will be worth $2
ziro4ka [17]

Answer:

$269,158.88

Explanation:

The computation is shown below:

Before the difference of the amount, first we have to determine the value of the wine after one year which is shown below:

= $2,400,000 + $2,400,000 × 10%

= $2,400,000 + $240,000

= $2,640,000

And, the interest rate is 7%

Plus the additional cost is $360,000

So, the value of the wine now is

= ($2,640,000 - $360,000) ÷ (1 + 0.07)

= $2,130,841.12

So, the difference is

= $2,400,000 - $2,130,841.12

= $269,158.88

3 0
3 years ago
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