Answer:
According to utility analysis, the consumer will be in equilibrium when he is spending money on goods in such a way that the marginal utility of each good is proportional to its price. Let us assume that, in his equilibrium position, consumer is buying q1 quantity of a good X at a price P1.
Explanation:
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Answer:
$1,550
Explanation:
Given that
Price tag = $620
Discount percentage = 60%
By taking the information,
The computation of the suit original price equal to
= Price tag ÷ (1 - discount percentage)
= $620 ÷ (1 - 0.60)
= $620 ÷ 0.40
= $1,550
Therefore, the suit original price is $1,550 after considering the discount percentage and the price tag.
Answer:
Explanation:
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Answer:
The flexible-budget amount is $120,000
Explanation:
The flexible-budget amount is the same lump sum as the static budget.
Therefore, The flexible-budget amount is $120,000.
