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Olegator [25]
2 years ago
6

You view tea and scones as perfect complements, and you prefer to consumer one cup of tea with one scone. Also, your indifferenc

e curves are plotted with tea on the vertical axis. If you presently have two cups of tea and one scone, what this the marginal rate of substitution (MRS) at this point
Business
1 answer:
vodka [1.7K]2 years ago
8 0

Answer:

Infinity

Explanation:

In the case when the tea and scones are considered to be the perfect complements also you give preference one cup of tea over the one scone

Plus the indifferent curve with tea should be plotted on the vertical axis

So in the case when there is 2 cups of tea with one scone so at this point, the MRS should be at infinity as the indifference curve should be in downward sloping because we presume that there is preferences done at monotonicity

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Suppose that Italy and Sweden both produce rye and cheese. Italy's opportunity cost of producing a pound of cheese is 5 bushels
mars1129 [50]

Answer:

Italy has a comparative advantage in the production of cheese

Explanation:

Suppose that Italy and Sweden both produce rye and cheese.

Italy's opportunity cost of producing a pound of cheese is 5 bushels of rye while Sweden's opportunity cost of producing a pound of cheese is 10 bushels of rye.

<u>By comparing the opportunity cost of producing cheese in the two countries, you can tell that Italy has a comparative advantage in the production of cheese because it has a lower opportunity cost (as a matter of fact half the cost) in comparison with Sweden.</u>

<u>Comparative advantage is an economic term that refers to an economy's ability to produce goods and services at a lower opportunity cost than that of trade partners</u>

6 0
3 years ago
Suppose you deposit​ $2000 in currency into your checking account at a branch of Bank of​ America, which we will assume has no r
Finger [1]

Answer: Please see answer in the explanation column

Explanation:  A T- account resembles a tshape that shows a representation for financial records using  double-entry bookkeeping, when it involves  different accounts like asserts and liabilities, debits to liabilities decrease the account while credits increase the account. The contrary is true for assets

first T-account

.a) <u>Assets              |         Liabilities</u>

Reserve: +$2000        Deposit: +$2000

b)

<u>Assets                |        Liabilities</u>

Reserve $400        Deposit=+$2000

Loans: .+$1600         

Where required reserve ratio is 20% ie 0.02 x 2000= $400

The bank will keep $400 as reserve and can only loan out $1600

Deposited in another bank as

<u>Assets                |        Liabilities</u>

Reserve $1600        Deposit=$1600

4 0
3 years ago
A boss who is a micromanager often works excessive hours, skips vacations, and needs to approve everything
satela [25.4K]
<span>This is a true or false question that often shows up on business related tests. The answer: true. Bosses who micromanage things often have employees who are frustrated and unhappy. In many cases, they feel undervalued and that they are not trusted to handle tasks without direct supervision from the boss. Companies that have a boss who is a micro-manager usually have a high turnover rate.</span>
8 0
3 years ago
The price of stadium seats at a baseball game increases from $20 to $30 and ticket sales fall from 45,000 per game to 35,000 per
Xelga [282]

Answer:

Inelastic

Explanation:

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% Change in quantity = ( 45,000 - 35,000 ) / 45,000 = 22.22%

% Change in price = ( 20 - 30 ) / 20 = -50%

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8 0
3 years ago
Have you ever been disciplined for or the subject of an administrative order relating to conduct or practices involving any aspe
crimeas [40]

Answer:

1. Does it mean if I have been taught any financial information?  

NO

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Explanation:

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1. Does it mean if I have been taught any financial information?  

NO

This question wants to know if you have been DISCIPLINED, PUNISHED OR PENALIZED for any finance-related fraud

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3. Is this question a positive question or negative?  

This question is positive because it shows you are seeking for an opportunity for work or travel.

6 0
3 years ago
Read 2 more answers
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