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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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Answer:

✔ Asking employees questions helps develop their critical thinking skills.

✘ Asking employees questions boosts their morale by helping them feel like experts, even though they’re not.

✘ Asking employees questions enhances their sense that the manager is the only person they should be in dialogue with, so they start talking less to each other.

✔ Asking employees how to solve problems empowers them to arrive at solutions to which they’re committed.

Explanation:

A manager who asks questions with a sincere interest in the answers is engaging in dialogue similar to a “regular” back-and-forth conversation, and this authenticity builds trust and promotes the open exchange of ideas. Another key benefit is that having employees think about questions, rather than just telling them information or telling them what to do, engages their critical thinking skills—which are key skills for organizational success. Also, when employees are asked how to solve problems, they are likely to have more buy-in to the solution they arrive at than to a solution imposed on them. Many people are motivated by feeling as though their ideas make a positive difference.

Lower-level employees are often the experts in operational details and often have more direct contact with customers than higher-level managers, so they have tremendous expertise that can and should be tapped. Asking employees questions begins an organizational dialogue that can lead to a decentralized communication network, in which employees freely exchange ideas with one another and not just with their manager.

7 0
2 years ago
Which leadership factor is defined as giving pep talks, asking employees for advice and praising their work, keeping them inform
Andrei [34K]

The leadership factor that is defined as giving pep talks, asking employees for advice is Motivating others.

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Learn more about Motivation at;

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if you go to the concert, you spent $45 dollars but lose the opportunity to sell the ticket

if you sell the ticket illegally, you get $75 at the cost of not seeing the concert


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the opportunity cost is 120 dollars
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