Answer:
$270
Explanation:
If the rent is $300 then 110 units will be occupied. The manager of the apartment complex should set a price which will maximize the revenue. When the rent is increased by $2 then one additional unit will be left vacant. This will reduce the revenue of the apartment manager. The equation to find the best possible rent which maximizes the total revenue is:
Profit = 110 (p - 300)
P = 110p - 330
P = 270.
The rent for the apartment should be 270 so the total revenue will be maximized.
The life insurance policy in which death benefits last a lifetime but premiums are all paid after a specified time period is a limited-pay whole life policy.
Answer:
change in total utility obtained by consuming an additional unit of a good
Explanation:
The utility is the level of satisfaction derived from the consumption of a good or service.
Marginal utility obtained from the consumption of a good is the change in the total utility due to the consumption of an additional unit of that good.
The total utility from consuming a good is maximized when the marginal utility is zero.
In order to maximize the total utility while consuming more than one good the marginal utility obtained from the last dollar spent on each product should be equal.
,Answer:
$168,700
Explanation:
The computation of the cash paid to suppliers is shown below:
But before that first we have to determine the purchase amount which is
As we know that
Cost of goods sold = Beginning inventory + purchase - ending inventory
$159,400 = $18,700 + purchase - $13,700
So, the purchase amount is $154,400
Now the cash paid to suppliers is
= Opening balance of account payable + purchase made - ending balance of account payable
= $22,500 + $154,400 - $8,200
= $168,700
We simply applied the above formulas
