Answer:
Nathan's budget line __rotates inward ____ and he moves to a ____lower__ indifference curve.
Answer:
Explanation:
13 years would be a time in the future hence you use future value formula.
Future value formula is FV = PV*(1+r)^n
r = interest rate; in this case it is the semiannual rate = 0.049/2 = 0.0245 as a decimal.
pv = principal amount invested = 7,500.00
Duration of investment; in this case, number of semi-annual periods = 13*2 = 26
The expression would be ; 7500(1.0245)^26
<span>Utility gained with each individual unit of a good that you purchase is called </span>a. marginal utility
This is of high importance because marginal utilities are used to determine how many items a consumer is willing to buy.
Answer:
Is irrelevant in decision making
Explanation:
Since the suck cost is the cost that no longer is recovered so it should not be a factor to consider when making a decision. For example, you have bought a cinema ticket for this evening, but it is heavily rainy so you may get sick if you go to the cinema. The fact that you have paid for this ticket should not consider whether to go or stay home since you can not get this amount of money no matter what happens.
