Answer:
Rational Consumer Jim will consume at utility maximising Consumer Equilibrium product combination : 4 Units of Nuts , 8 Units of Apples .
Explanation:
Consumer is at equilibrium where : Budget Line is tangent to Indifference Curve & hence their slopes are equal i.e MRS (NA) = P(N) / P(A)
As per qstn given details : A / N = 10 / 5 implying A/N = 2 i.e A = 2N
Putting this in Budget Constraint: Price of goods x Quantity of goods = Income
[P(A) x Q(A)] + [P(N) x Q(N)] = Y
10A + 5N = 100
10 (2N) + 5N = 100 <em> [</em>S<em>ince A = 2N] </em>
<em>20N + 5N = 100 </em>
<em>25N = 100 </em>
<em>N = 4 ; A = 8 [Since A = 2N] </em>
Answer: d. All of the above statements describe advantages of online retailing.
Explanation: Online retailing allows consumers of products and services to directly buy them from a seller over the internet via the use of a web browser or a mobile app. In offers a series of advantages such as convenience, access to information and reviews, being able to quickly compare prices before selection (comparison shopping), in-home privacy, a greater variety of products to choose from among others.
Answer:
$7,816.9943
Explanation:
Using the high-low method;variable cost per unit=[Total cost at highest level-Total cost at lowest level]/(Highest level-Lowest level)
= $16,700 - $15,850 / 951 - 860
= $850 / 91
= $9.340659340659341
= $9.3407
Hence, total fixed cost = $16,700 - ($9.3407*951) = $16,700 - $8,883.0057 = $7,816.9943
<span> contribution margin income statement</span>