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Vikentia [17]
3 years ago
8

lunch in Jamie's dorm is an all-you-can-eat buffet, served from 11 a.m. until 1 p.m. By noon, the buffet is picked over, and by

12:30, there are very few popular items left. The garbage bins, though, are full of food. If the cafeteria changed its policy so that students had to pay for each item chosen, students would: Select one: a. make the same selections as before, but eat more of what they select. b. select only the most expensive items in the buffet. c. encounter shortages earlier in the day. d. only select an item if its marginal benefit is greater than or equal to its price.
Business
1 answer:
Elena L [17]3 years ago
7 0

Answer:

d

Explanation:

A rational consumer would only consume goods for which her marginal benefit is equal or greater than the marginal cost.

Marginal benefit is the benefit derived from consuming one extra unit of a good

Marginal cost is the cost of consuming one more unit of a good

Because the buffet is all you can eat, there is no marginal cost for putting more food on your plate. Thus, students would tend to over-serve. This would lead to wastage of food.

If the policy is enacted, students would only consume goods for which their  marginal benefit is equal or greater than the marginal cost. As a result, wastages would reduce.

the items they would select would be dependent on the marginal benefit they would derive from consuming the food item

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Woodman Products, Inc., has found that new products follow a learning curve. The first two units have been completed with the fo
ahrayia [7]

Answer:

(a) 72

(b) 57.6

(c) 46.08

Explanation:

Given that,

Units produced = 1

Marginal Labor Time = 112.50

Units produced = 2

Marginal Labor Time = 90.00

First, we need to calculate the learning rate.

Learning Rate:

= (Marginal labor time for producing 2 units ÷ Marginal labor time for producing 1 units) × 100

= (90 ÷ 112.50) × 100

= 80%

At production level of 1 unit:

Marginal Labor time = 112.5

At production level of 2 units:

Marginal Labor time:

= Marginal Labor time at 1 unit × Learning rate

= 112.5 × 80%

= 90

(a) At production level of 4 units:

Marginal Labor time:

= Marginal Labor time at 2 units × Learning rate

= 90 × 80%

= 72

(b) At production level of 8 units:

Marginal Labor time:

= Marginal Labor time at 4 units × Learning rate

= 72 × 80%

= 57.6

(c) At production level of 16 units:

Marginal Labor time:

= Marginal Labor time at 8 units × Learning rate

= 57.6 × 80%

= 46.08

5 0
3 years ago
question 5 mr. porter sells 10 bottles of champagne per week at a price of $100 per bottle. he can sell 11 bottles per week if h
Natali5045456 [20]

As per the given data, there is An increase of $90  and a decrease of $100.

( bottle cost 90x10 =900 and 90x11=990; increase of $90)

(Total Revenue: 100x10=1000 , 90x10=900; difference is 100)

<h3>What is revenue?</h3>

While doing any kind of business, a person always invests some money and tries to generate a profit. This can be done with the help of operations calculations.

After an average sale that has been done. This kind of work or activity is done in the case of revenue. One can easily calculate the revenue by putting the given value into the formula.

Thus, in the case of Mr. Potter, after selling 11 bottles per week, the total revenue will be a difference of a hundred dollars.

Learn more about revenue from here:

brainly.com/question/8645356

#SPJ4

7 0
2 years ago
Andy decides to go skydiving for his 40th birthday. He signs a waiver, boards the plane and prepares for the jump. Everything is
Bumek [7]

Answer: assumption of the risk

 

Explanation: In case of any dispute, if the defendant succeed to prove the court that the the plaintiff knowingly took the potential risk of the activity which he or she was participating, then under the assumption of risk court can reduce or bar the recovery of that plaintiff.

In the given case, Andy signed a waiver before going for the dive. That waiver is a proof that he himself assumed the risk.

Thus, he will not recover his injuries under the defense of assumption of risk .

4 0
3 years ago
A company estimates that warranty expense will be 2% of sales. The company's sales for the current period are $176,000. The curr
erastovalidia [21]

Answer:

The answer is

Dr Warranty Expense $3,520

Cr Estimated Warranty Liability $3,520

Explanation:

Warranty expense is a contingent liability and it is defined as liabilities that may be incurred by a firm or business depending on the outcome of an uncertain future circumstance.

Current sales = $176,000

Warranty expense = $3,520(2% of $176,000).

The rule: Debit increases assets and expenses while credit reduces it.

Credit increases equity(stock), sales(revenue) and liabilities while debit reduces it.

Therefore the period entry is

Dr Warranty Expense $3,520

Cr Estimated Warranty Liability $3,520

8 0
3 years ago
Amelia has been working as a teataster for approximately 15 years. She visits tea gardens in the country of Bodonia to grade tea
Rashid [163]

Answer:

Top-down processing.

Explanation:

Top-down processing is the process by which the human brain uses information that it has been exposed to through one or more sensory systems. It is a cognitive process that starts with our thoughts and flows to lower level senses.

Information is processed through our senses and the brain creates perceptions of these information.

In this instance has been working as a tea taster for 15 years, so she has been exposed to various tea flavour through sensory organs of taste. When she visits tea gardens in the country of Bodonia to grade teas according to their quality and taste, she uses her previous knowledge of teas to grade the Bodonia teas.

8 0
4 years ago
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