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Mamont248 [21]
2 years ago
12

Suppose the price of Good X is $4 and the price of Good Y is $3. If a consumer has a Marginal Rate of Substitution (MRSxy) of 1

for the bundle they are considering, then given their budget constraint, the consumer
a. Cannot reach a higher level of utility given their budget constraint.
b. Would have a higher utility if they bought more of Good X.
c. Would have a higher utility if they bought less of Good X
Business
1 answer:
nexus9112 [7]2 years ago
4 0

Answer:

c. Would have a higher utility if they bought less of Good X

Explanation:

Since the marginal rate of substitution is -1, this means that at that point the consumer is indifferent between product X and product Y, but since product X is more expensive than product Y, he/she will increase their utility per dollar if at least one more unit of product Y is bought instead of one unit of product X.

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Anna007 [38]

Answer: Actual state

Explanation: In simple words, The actual state refers to the way in which a rational consumer actually satisfies his or her needs and wants.

In the given case, Bessie is sure that she has the same product left at home however she does not have any proof. Bessie decides to not purchase the good she already has one, thus, despite of not having a proof she decides to satisfy her wants by not purchasing the bottle.

Hence the correct option is C .

7 0
3 years ago
_________ are basic beliefs about right and wrong or philosophies that are pervasive in a society. For instance, in some countri
solmaris [256]

Answer:

A. Values

Explanation:

Although, the above explanations entails or encompasses what values are, manners and customs of people in a country; however, values is what summarizes the whole passage.

Values are what a given society holds in high esteem. They are basic and fundamental beliefs that controls actions in a given society. Values may be right or wrong according to the philosophies of those who believes in such, it is however very important because it helps a society determines what is important I.e something that is good, worthwhile and very much desirable.

3 0
2 years ago
Read 2 more answers
Requirement 3. The company marketing vice president believes a new sales promotion that costs $ 140 comma 000 would increase sal
gregori [183]

Answer:

Revenue = 240000×49= 11,760,000

Variable manufacturing expense = 240000×20 = 4,800,000

Sales commission expense = 240000×8 =1,920,000

Fixed manufacturing overhead = $2,400,000

Fixed operating expenses = 245,000

Sales promotion = 140000

Profit = 2,255,000

8 0
3 years ago
Question 1 of 10
madreJ [45]

Answer:

B. Thanks can have collection agencies seize part of the borrowers income

Explanation: I just got it right for a p e x

5 0
2 years ago
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You are examining an investment opportunity. It would require you to pay money today and then receive payments semi-annually fro
Lady_Fox [76]

Answer:

The semi annual rate is 4.88%

Explanation:

semi annual rate = [((1+r)^(1/n)) -1]

                            =  [((1+10%)^(1/2)) -1]

                            = 4.88%

Therefore, the semi-annual rate (i.e. periodic return per six months) do you require (i.e. need to earn such that this implies 10% earned per year when you get to compound semi-annually) is 4.88%.

 

5 0
2 years ago
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