Answer: Sharing food their homes giving out water and helping the sick as best as they can.
Explanation:
Julio's marginal rate of substitution equals is: 0.38, which is the price of food divided by the price of clothing.
<h3>Marginal rate of substitution</h3>
Using this formula
Marginal rate of substitution=Price of food/Price of clothing
Let plug in the formula
Marginal rate of substitution=$3 per unit/$8 per unit
Marginal rate of substitution=0.375
Marginal rate of substitution=0.38 (Approximately)
Therefore Julio's marginal rate of substitution equals is: 0.38, which is the price of food divided by the price of clothing.
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Physical Trauma
Loud noise
Loss of a loved one
Answer: 2.0 and 16%
Explanation:
The degree of operating leverage and the expected percent change in income, will be calculated thus:
Operating leverage will be:
= Contribution margin / Net operating income
= 49200 / 24600
= 2
Then, percentage change in income will be:
= %change in sale × operating leverage
= 8% × 2
= 16%
