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
den301095 [7]
2 years ago
6

What is the basic difference between cardinal and ordinal approaches of utility?​

Business
1 answer:
Natasha2012 [34]2 years ago
3 0

Answer:

Cardinal utility is the utility wherein the satisfaction derived by the consumers from the consumption of good or service can be measured numerically. Ordinal utility states that the satisfaction which a consumer derives from the consumption of product or service cannot be measured numerically.

Explanation:

hope this helps you.

You might be interested in
Assume a $1,000 Treasury bill is quoted to pay 8% and matures in 3 months. 1. How much interest would an investor receive? (10 p
antiseptic1488 [7]

Answer:

i dont know

Explanation:

5 0
2 years ago
Why do we need to do school when at home bc this is supposed to be my vaca...
QveST [7]

Answer:

because it's only April

Explanation:

school doen't end until may

5 0
3 years ago
Read 2 more answers
Which of the following statements is true?-direct costs can easily be traced to a cost object; indirect costs cannot be-both dir
Andru [333]

Answer: Statement A

Explanation: Direct cost are those costs which are variable in nature and can be allocated to the total units of output produced, these are easily traceable. Examples - direct material, direct labor and piece rate wages etc.

Indirect costs are those cost which cannot be allocated to the number of units produced on individual basis unlike direct cost these costs can be either fixed or variable in nature. Examples - rent expenses, administrative expenses.

.

From the above explanation we can conclude that statement A is correct.

5 0
3 years ago
A good economic theory is best described as one that:: A. Is true. B. Realistically depicts the real world economists are trying
ollegr [7]

Answer:

b.

Explanation:

thats my answer my module

8 0
3 years ago
LO 3.4A company sells two products, Model 101 and Model 202. For every one unit of Model 101, they sell they sell two units of M
dexar [7]

Answer:

The sales mix is 1:2.

                           Model 101          Model 102

Selling Price                       21             56

Variable Cost              -14            -35

Contribution Per Unit       7               21

Multiply Sales Mix Ratio       1               2

Weighted Contribution       7                      42

Now add the weighted Contribution to compute Contribution margin per composite unit which is 7+42=$49

Explanation:

I assumed that the cost and selling price here for Model 101 is $14 and $21 respectively. Similarly the cost and selling price of Model 102 is $35 and $56 respectively.

Remember that Contribution margin per composite unit means that we will earn 49 dollars(combined contribution of sales mix) if we sell the sale mix of Model 101 and 102 which is 1:2.

6 0
3 years ago
Other questions:
  • The U.S. GAAP lower of cost or market rule for inventories may be applied to total inventory, to groups of similar items, or to
    8·1 answer
  • You are given the following facts about a solely owned S corporation. What is the shareholder's ending stock basis?
    8·1 answer
  • Ivor borrowed $420,000 from Lear Bank. At Lear's request, Ivor entered into an agreement with Ash, Kane, and Queen for them to a
    12·1 answer
  • When troubleshooting for connectivity issues, why would is it important to check the physical conditions of the network before r
    9·2 answers
  • Misty and John formed the MJ Partnership. Misty contributed $50,000 of cash in exchange for her 50% interest in the partnership
    11·1 answer
  • Pick an organization (public or private) and then choose a particular type of COI that is associated with this type of organizat
    9·1 answer
  • Consider the statements. Indicate whether each statement falls mainly under the field of microeconomics or macroeconomics.
    10·1 answer
  • A popular hotel has continued to lose business in its room service food sales over the last five years. Using the Six Sigma DMAI
    7·1 answer
  • Jay and Carrie Garrett operate a small retail store in a college town that sells only house plants and accessories, which they n
    9·1 answer
  • Sheffield Corp. has beginning work in process inventory of $148000 and total manufacturing costs of $677000. If cost of goods ma
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!