Answer:
Fit dimension
Explanation:
Utility function is the function which is vital that measures the preferences over a set of the services or goods. Utility states the consumer or the customer satisfaction, receiving the consuming and choosing the service or product.
Consumer utility function is the function which states the satisfaction or contentment of the customer. So, if the firm or the company who is offering the tailor made ( which means as per the requirement of the customer), to the customer that appeals the fit dimension of the utility function of the customer as it captures how well the service or the product matches the characteristics of the given customer.
Your answer to this question is increased by $1000
Answer:
The percent change in labor productivity is 22%
Explanation:
Listing out the parameters given:
labor productivity (2009) = 3.33 units/hr,
labor productivity (2010) = 4.27 units/hr
To calculate the percent change in labor productivity, we have it thu:
percent change in labor productivity = [labor productivity (2010) - labor productivity (2009)] ÷ labor productivity (2010)
Let's assume 'Labor productivity' = LP
%Δ in LP = * 100% = * 100%
%Δ in LP = * 100% = 22%
%Δ in LP = 22%
This shows an increase in computer manufacturing from 2009 to 2010 by 22%
Answer: income effect of a price change.
Explanation: The income effect is known as the effect on real income when price changes, it can however be positive or negative. The income effect expresses the impact of increased purchasing power on consumption.
In this scenario, spending $10 for lunch, and you would like to purchase two cheeseburgers. When you get to the restaurant, you find out the price for cheeseburger has increased from $5 to $6, so you decide to purchase just one cheeseburger, this scenario best illustrates the income effect of a price change.