Answer:
The answer is: A. choose the combination of food and non-food consumption that makes her as well off as possible from among the combinations of food and non-food items she can afford.
Explanation:
The economic model of consumer behavior states that an individual will consume the products or services that maximize his (or her) benefits and overall well-being while minimizing costs.
So this consumer should choose the combination of products (between food and non-food products) that maximize his well-being while having the lowest possible cost.
Answer:
hope this helps
Explanation:
The main factors that affect location decisions include regional factors, community considerations, and site-related factors. Community factors consist of quality of life, services, attitudes, taxes, environmental regulations, utilities, and development support.
Answer:
1. quick ratio
Explanation:
Common liquidity ratios include the quick ratio, current ratio, and days sales outstanding. Liquidity ratios determine a company's ability to cover short-term obligations and cash flows, while solvency ratios are concerned with a longer-term ability to pay ongoing debts.
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Answer:
Paul is NOT maximizing his utility.
Explanation:
Given:
MU
= Marginal utility from DVDs = 21
MU
= Marginal utility from books = 4
P = Price of DVDS = $11
P = Price of books = $1
Under the utility maximization theory for two or more goods, utility is said to be maximized by a consumer when the ratios of the marginal utility to price per unit of each good are equal to each other. For this question, this implies that when we have:
MU / P = MU / P ………………………….. (1)
Therefore, we have:
MU / P = 21 / 11 = 1.91
MU / P = 4 / 1 = 4
Since 1.91 = MU / P < MU / P = 4, this implies that these conditions are NOT consistent with equation (1). Therefore, Paul is NOT maximizing his utility.
In order to maximize his utility, Paul should consume more DVDs and consume less books until these conditions are consistent with equation (1).
