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kogti [31]
3 years ago
6

Regardless of his income and regardless of prices, Smedley always spends 25% of his income on housing, 10% on clothing, 30% on f

ood, 15% on transportation, and 20% on recreation. This behavior is consistent with which of the following?
a. All goods are perfect substitutes.
b. Smedley's demands for commodities do not change when their prices change.
c. Smedley consumes all goods in fixed proportions.
d. Smedley has a Cobb-Douglas utility function.
e. More than one of the above.
Business
1 answer:
OlgaM077 [116]3 years ago
7 0

Answer: D. Smedley has a Cobb-Douglas utility function.

Explanation:

Utility is the satisfaction that a customer gets when he or she uses a particular good or service.

Since we're informed that regardless of his income and regardless of prices, Smedley always spends 25% of his income on housing, 10% on clothing, 30% on food, 15% on transportation, and then spends 20% on recreation, this behavior is consistent with a Cobb-Douglas utility function.

In this case, the goods aren't perfect substitute as they do not serve safe function. Also, Smedley doesn't consumes all goods in fixed proportions. Therefore, the correct option is D.

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For your speech to be effective, you must carefully consider what your specific
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Answer:

A. Specific Purpose

Explanation:

This is 101 for anyone who wants to write an effective speech, knowing what you want to accomplish and what you want the audience to do by the end of your speech is the idea behind this.

8 0
3 years ago
One of the technical evaluators on a multi-million dollar source selection just told you that her husband was just offered a job
ratelena [41]

Answer:

The correct administrative remedy against such a contractor is to have them suspended.

Explanation:

The role of a technical evaluator is sensitive as it means that he or she would be privy to almost if not all information that has to do with the contract.

In the information provided, the technical evaluator's husband was offered a job at a company competing or bidding for a multi-million dollar contract she was also evaluating.

Their husband didn't ask for the job. They offered it so that they might gain information to their advantage.

The action of this contractor can be classified as fraudulent. One of the administrative actions that can be taken against such is to have them suspended with a threat to have their license permanently revoked if they should make a similar attempt again.

Cheers

3 0
3 years ago
which of the following describes an important difference between general partnership and limited partnerships
dexar [7]
The main difference between a general partnership and a limited partnership is that "<span>A general partnership has unlimited liability for all partners while a limited partnership has limited liability." In addition, the liability of the personal assets in a general partnership is its obligation.</span>
8 0
3 years ago
Read 2 more answers
Current disposable income held to buy consumption goods in the future is referred to as:______.
maxonik [38]

The current disposable income held to buy consumption goods in the future is referred to as saving.

Consumables are goods that are best suited for their end use. In other words, the end-user of consumer goods is the consumer themselves, and capital goods are the goods used to manufacture consumer goods.

Common examples include food, drink, clothing, shoes, and gasoline. Consumer services are usually intangible products or actions that are produced and consumed simultaneously.

Learn more about   consumption goods here

brainly.com/question/18849286

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3 0
2 years ago
Ashley Inc.’s total value is $950 million. Its balance sheet shows $100 million of accounts payable, $100 million of notes payab
PIT_PIT [208]

Answer: $7.50

Explanation:

Given that,

Total value = $950 million

Accounts payable = $100 million

Notes payable = $100 million

Long-term debt = $200 million

common equity = $200 million

shares of common stock = 100 million

Value of equity = Value of firm - Value of preferred stock - Value of long term debt.

                         = $950 million - 0 - $200 million

                         = $750 million

Value\ of\ stock = \frac{Value\ of\ equity}{Number\ of\ shares}

Value\ of\ stock = \frac{750}{100}

                                 = $7.50

                     

5 0
3 years ago
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