Answer: a good consumers demand more of as their incomes increase. "Ceteris paribus" means demand will change when price changes. if other market factors remain constant.
Field A B C D
Corn 40 40 30 10
Tobacco 10 40 20 30
Production possibility frontier <span>is defined as a </span>curve<span> depicting all maximum output </span>possibilities<span> for two goods, given a set of inputs consisting of resources and other factors. The PPF assumes that all inputs are used efficiently.
In the PPF, Corn data is represented by the y-axis, Tobacco data is represented in the x-axis. I simply inputted the points but didn't make the curve because there is a point that seem to go beyond the curve. Please see attachment.</span>
Answer:
option (D) $21.66
Explanation:
Data provided in the question:
Basic direct labor rate per hour = $12.68
Payroll taxes = 13% of basic direct labor rate
Fringe benefits per hour = $7.33
Now,
The standard rate per direct labor hour
= Basic direct labor rate per hour + Payroll taxes + Fringe benefits per hour
= $12.68 + ( 13% of $12.68 ) + $7.33
= $12.68 + $1.6484 + $7.33
= $21.6584 or $21.66
Hence,
The correct answer is option (D) $21.66
Answer:
The correct answer is: The benefit of making the request will likely exceed the cost.
Explanation:
Utility maximization implies obtaining the greatest return after making a decision considering the least amount possible of resources in the process to obtain what is desired. The benefit is greater than the cost, utility maximization takes place in determining what the benefit and the cost could be.
Thus, <em>if you decide to tell your spouse where to go to eat for your birthday, the benefit of informing that is likely higher than the cost of disclosing that information</em>.