1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Genrish500 [490]
3 years ago
8

Elmer’s utility function is U(x, y) = min{x, y2}. If the price of x is $25 and the price of y is $15 and if Elmer chooses to con

sume 7 units of y, what must his income be? a.
Business
1 answer:
Arte-miy333 [17]3 years ago
6 0

Answer:

the income is $1,330

Explanation:

The computation of the income is shown below;

Given that

U(x, y) = min{x, y2}

Price of x is $25

ANd, the prcie of Y is $15

So,

25X + 15Y = M

if Y = 7,

So,  

At eqm, X = Y^​​​​​​2 = 49

Then ,

M = 25 × 49 + 15 × 7

= 1225 + 105

= 1330

Hence, the income is $1,330

The same should be relevant and considered too

You might be interested in
True or false: Controlling involves developing goals and preparing various budgets to achieve those goals.
Radda [10]

False, Planning involves developing goals and preparing various budgets to achieve those goals not controlling

Controlling involves determining if goals have been followed and taking corrective measures

Control is a management feature that helps you check for errors in order to take corrective action. This is done to minimize deviations from standards and ensure that the organization's set goals are achieved in the desired way.

The corporate governance management process is when managers define, measure, improve and manage cost management of their business operations. Control processes allow enterprises to manage changes in their supply chain, customer demand, and other variables that affect their lives.

Learn about controlling function here:brainly.com/question/22691648

#SPJ1

7 0
1 year ago
You are asked to send out an important letter to your business associates in Japan, and it must be sent within the next 90 minut
alexandr1967 [171]

Answer:

The answer is "15 minutes"

Explanation:

I will approximately spend 15 minutes on prewriting once i have gathered the information needed.

4 0
3 years ago
1. You’ve been hired by Nielsen Company to study the market for potatoes. Demand in the potato market is characterized by the de
icang [17]

Answer:

P = MR = 1

Explanation:

The demand function is q = 25 - 12p.

The  total income is the price of potatoes multiplied by the quantities of potato --> P * Q

p*q = p*(25-12p)

p*q = 25p - 12p^2

the first derivative of the previous equation is the marginal revenue. In perfect competition the Price = Marginal revenue.

First derivative of total income ---> 25-24p

And MR = P

25-24p=p

25=25p

<h2>p=1</h2>

8 0
2 years ago
Related to the Economics in Practice on page​ 77: If a hurricane results in the supply of hotel rooms decreasing and the demand
UkoKoshka [18]

Answer:

Increases; Ambiguous effect on equilibrium quantity

Explanation:

This situation states that the supply of hotel rooms decreases and the demand for hotel rooms increases due to the hurricane, so this change will shift both the supply curve and the demand curve in the hotel rooms market.

This will shift the supply curve leftwards and demand curve rightwards, therefore as a result, there is an increase in the equilibrium prices and the effect of this change on the equilibrium quantity is ambiguous because that will be dependent upon the magnitude of the shifts of demand and supply curve.

5 0
3 years ago
The following information is available from the current period financial statements:
Galina-37 [17]

Answer:

$166,000

Explanation:

The net cash flow from operating activities using the indirect method is computed below:

Cash flow from Operating activities - Indirect method

Net income $175,000

Adjustment made:

Add : Depreciation expense $28,000

Less: Increase in accounts receivable -$16,000

Less: Decrease in accounts payable -$21,000

Total of Adjustments -$9,000

Net Cash flow from Operating activities $166,000

8 0
3 years ago
Other questions:
  • A study of about 1,800 U.S. colleges and universities resulted in the demand equation q = 9,900 − 2p, where q is the enrollment
    9·1 answer
  • Question 3
    8·2 answers
  • 15 POINTS!
    8·1 answer
  • The ____ phase of the SDLC includes four main activities: requirements modeling, data and process modeling, object modeling, and
    10·1 answer
  • o test the validity of your selection device for widget makers, you have given it to the present widget makers in your company a
    12·2 answers
  • A few years back, Dave and Jana bought a new home. They borrowed $230,415 at a fixed rate of 5.49% (15-year term) with monthly p
    8·1 answer
  • Dante, the plant manager at Inferno Manufacturing, is interested in increasing the facility's productivity by utilizing MBO so t
    14·1 answer
  • In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet figures from histori
    14·1 answer
  • 9. Search costs are
    9·1 answer
  • Dwight Donovan, the president of Stuart Enterprises
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!