1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
icang [17]
3 years ago
14

(problem 13). margo's marginal utility of one dance lesson is 100 utils per lesson. her marginal utility of a new pair of dance

shoes is 300 utils per pair. the price of a dance lesson is $50 per lesson. she currently spends all her income, and she buys her optimal consumption bundle. what is the price of a pair of dance shoes?
Business
1 answer:
kirill115 [55]3 years ago
6 0

Since Margo purchase her optimal consumption bundle, the marginal utility per dollar consumed on dance lessons must be equivalent to the marginal utility per dollar paid on dance shoes. The marginal utility per dollar spent on dance lessons is 100 utils per lesson, where $50 per lesson is equivalent to 2 utils per dollar. The marginal utility per dollar expended on dance shoes therefore has to equal 2 utils per dollar. Since the marginal utility of a pair of dance shoes cost 300 utils per pair, the value of a pair of shoes should be $150 per pair, so that 300 utils per pair/$150 per pair is equal to: 2 utils per dollar.

You might be interested in
An accountant agreed to perform a compilation of a company’s financial statements under Statements of Standards for Accounting a
krek1111 [17]

Answer:

D

Explanation: Even though analytical procedures were performed during fieldwork of a compilation engagement, the agreed upon procedure was a compilation engagement. Additional review procedures was used during the compilation engagement for reasons the accountant deemed necessary. A review report can only be issued if the initial agreed upon engagement was a review of the company's financial statements and a full review engagement was conducted and not simply additional review procedures during a compilation engagement.

5 0
4 years ago
Julius asks rachel if she would like to sell her boat. rachel privately has no interest in selling her boat and believes that ju
erica [24]
Julius and Rachel have formed a valid contract because Rachel's outward expression showed the formation of a contract. A valid contract is an expressed agreement between two parties to produce a product or service. The essential elements of a valid contract are: an offer, an acceptance, an intention to create a legal relationship and a consideration, usually in form of money.<span />
6 0
3 years ago
Interests are the specific items or terms you actually negotiate and are generally the first thing that we think of when we anti
fomenos

Interests are the specific items or terms you actually negotiate and are generally the first thing that we think of when we anticipate negotiating - False

<h3><u>Explanation:</u></h3>

Interest refers to the things that we actually like to get. When we list an item in our interest list we will get that item without any negotiation. Items that are in our interest list are those that we use regularly and there will be no second item for its displacement. We will get these items even when the cost of the item is more.

When the things that are not in the list of our interest we will start negotiation. This is because these items are not mandatory for us and even when the price of the particular item is not reduced we will ignore and buy something instead of it. Thus, the specific items of our interest will not the first thing we anticipate for negotiation process.

4 0
4 years ago
Countries that export goods and services realize that it's an important source
nignag [31]
Answer is A. Debt. Or possibly revenue
6 0
4 years ago
Oh so you like brainly? Name every rank
neonofarm [45]

Explanation:

Beginner, Apprentice, Rising Star, Helping Hand, Ambitious, Virtuoso, Expert, Ace, Genius,etc

5 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following is a career pathway for business management and administration? (APEX)
    10·1 answer
  • The potential benefits lost by taking a specific action when two or more alternative choices are available is known as a(n):
    13·1 answer
  • Two loans same interest rate which to pay first
    6·1 answer
  • If the price of jelly goes up by 10 percent, we observe a decrease in the quantity demanded of peanut butter of 20 percent. the
    14·1 answer
  • Which is an example of a proprietorship?
    13·1 answer
  • Viaduct Corporation used untested and risky construction techniques to build a bridge under budget. The techniques were legal bu
    10·1 answer
  • All of the following are true statements EXCEPT:
    13·1 answer
  • What is the maximum amount a firm should pay for a project that will return $15,000 annually for 5 years if the opportunity cost
    12·1 answer
  • You are a new project manager who has been entrusted with a project. The project has entered the Execution phase, and you as the
    13·1 answer
  • A bill's supporters in the house of representatives generally prefer ________ while opponents generally prefer ________.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!