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rodikova [14]
2 years ago
8

Robinson spends all his income on mangos and bananas. Mangos cost $3 per pound. Robinson's marginal utility is 30 for the last p

ound of mangos purchased and 10 for the last pound of bananas. If Robinson maximizes his utility from consuming these goods, the price of bananas is
Business
1 answer:
ANEK [815]2 years ago
8 0

Answer:

$1 per pound

Explanation:

Marginal utility is defined as the additional satisfaction that a person gains from consumption of an additional unit of a product.

Since Robinson spends all of his money on mangoes and bananas his the marginal utility per price of each product will be equal.

This is called equi marginal utility (Gossens second law).

Marginal utility of mango ÷ price of mango = marginal utility of banana ÷ price of banana

30 ÷ 3 = 10 ÷ price of mango

10 = 10 ÷ price of mango

Cross multiply

Price of mango * 10 = 10

Price of mango = 10 ÷ 10 = $1 per pound

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A product-process matrix can be used to address the fact that customers often participate in service processes.

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A customer is an individual or business that purchases goods or services from another business. Customers are important because they drive sales. Without them, companies cannot continue to exist.

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1 year ago
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5 0
2 years ago
Using the aging method of accounts receivable method, $5,000 of the company's Accounts Receivable are estimated to be uncollecti
gogolik [260]

Answer:

The correct answer is $4,500.

Explanation:

According to the scenario, the given data are as follows:

Uncollectible Account receivable = $5,000

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So, we can calculate the bad debt expense by using following formula:

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by putting the value, we get

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6 0
3 years ago
The Lunch Counter is expanding and expects operating cash flows of $32,500 a year for seven years as a result. This expansion re
storchak [24]

Answer:

$109,688.89

Explanation:

According to the scenario, computation of given data are as follows,

Formula for Net present value are as follows,

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Where, r = rate of return

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