Changes in the price of bus tickets in a big city have had no impact on the

Given a set amount of money, goods A and B both give the same marginal utility but good A costs twice as much as good B. If you

Norma-Jean [14]

Answer:

The correct answer is letter "B": consume more of good B and less of good A.

Explanation:

Marginal Utility is a common economic term referring to the extra benefit or satisfaction obtained by buying one additional unit of a good or service. Something has utility in economics if it meets any consumer desire or needs, whether for use or pleasure. People buy when the marginal utility is greater than the marginal cost, and when the marginal utility is less than the marginal cost, they do not.

Thus, if good A is twice the price of good B both having the same marginal utility, g<em>ood B should be consumed more because good A marginal utility is less than </em><u><em>its</em></u><em> marginal cost compared to good B</em>.

6 0

3 years ago

Sussex Corporation's production cycle starts in the Mixing Department. The following information is available for April:Work-in-

VladimirAG [237]

Answer:

C. 280,000 270,000

Explanation:

Units Started and Completed: Total Units in Process during April - Work in Process Units at April 30

Equivalent Units of Production (Weighted Average Method): Units Started and Completed + Ending Inventory x % Completion

Units Started and Completed: 280,000 units - 25,000 units = 255,000

Equivalent Units of Production Materials: 255,000 + 25,000 x 100% = 280,000

Equivalent Units of Production Conversion Costs: 255,000 + 25,000 x 60% = 270,000

4 0

3 years ago

The average starting salary for this year's graduates at a large Texan university is $45,000, with a standard deviation of $4,00

4vir4ik [10]

Answer:

The probability that a randomly selected graduate will have a starting salary of $50,000 or more is 10.56%

Explanation:

The formula for calculating a z-score is:

Z= $\frac{x-μ}{σ}$

Where:

x=Score in this case is $50,000

μ=Mean or average of the salary: $45,000

σ= standard deviation of $4,000.

Z= $\frac{50000-45000}{4000}$

Z= 1.25

This value has an associated probability of 0.8944= 89.44%, this means 89.44% of graduates will have a starting salary of $50,000 or less.

But if we want to know the probability that the graduate has a salary of $50,000 or more, taking into account a population of 100%=1

1-0.8944= 0.1056

Which represents that 10.56% of population of graduates will earn $50,000 or more.

7 0

3 years ago

justin corp. issues 10,000 shares of $1 par value common stock for $5 per share. the journal entry to record this transaction wi

enyata [817]

The record of the issuance of the stock is debit to cash for $50,000, credit to common stock for $10,000 and credit to excess of common stock of $40,000.

<h3>How to record journal entry for the following transactions?</h3>

A. Entries of the stock

1. Account(cash)

Cash=10,000 shares at $5 per share

Cash=10,000×5=$50,000

Cash to Debit=$50,000

Credit this account=$0

2. Account (common stock)

Common stock=10,000 shares at $1 per value common stock

Common stock=10,000×1=$10,000

Credit account=$10,000

Debit this account=$0

3. Account (Paid-in Capital in Excess of Par - Common Stock)

Paid in capital in excess of par-common stock=50,000-10,000=$40,000

Credit this account=$40,000

Debit this account=$0

This can be written as;

Account Debit ($) Credit ($)

Cash (10,000 shares×$5 price) 50,000

Common Stock (10,000 shares×$1 par) 10,000

Paid-in Capital in Excess of Par - Common Stock 40,000

The record of the issuance of the stock is debit to cash for $50,000, credit to common stock for $10,000 and credit to excess of common stock of $40,000.

To know more about journal entry, refer:

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6 0

2 years ago

Consumer credit: Multiple Choice is currently a privilege of the affluent. dates back to colonial times. currently carries no fi

Alex787 [66]

Consumer credit dates back to colonial times.

<h3>What is consumer credit?</h3>

Money that customers can borrow to pay for products or services is known as consumer credit. Customers who have access to credit can make purchases today and pay for them over time. Consumers can obtain credit from banks, financial organizations, and companies.

Consumer credit is governed by federal and state rules that shield borrowers from dishonest lending practices and stop companies from treating them differently based on non-financial considerations.

Examples of consumer credit are credit cards, education loans, mortgages, etc.

Consumer credit has been around since the colonial era when farmers used it frequently.

Learn more about consumer credit here:

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4 0

2 years ago