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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A) Opportunity cost
because an opportunity cost is for example you have to pick from a xbox one or a ps4. You saw that the ps4 was more scarce for you but you had to give up the xbox one to obtain the ps4. Nothing is free in life!!! You sacrificed the xbox one for the ps4
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When you excersise, your target heart rate should be between 25% to 70% of your maximum heart rate. Your target heart rate r at 70% can be determined by the formula r=0.7(220-a) where a represents your age in years. Solve the formula for a.</span>
Jackson motors tells sue, a consumer, that bliss automobiles are made with metal bodies when they are in fact made of fiberglass. This would be considered a fraudulent misrepresentation.
Under contract law, a plaintiff can recover compensatory damages against any defendant when the court finds that the defendant has committed a fraudulent misrepresentation. Courts will find that a defendant has committed a fraudulent misrepresentation when following factors have been met:
a representation was made by the defendant, the representation which was made was false
that when it is made, the defendant knew that the representation made by him was false.
that the fraudulent misrepresentation was made with the intention so that the plaintiff rely on it.
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