Answer:
Consumers should choose to take the flight.
Explanation:
The price of a rental car = $50
Marginal utility from the car = 20 utils
Now find the per dollar utility from car = $50 / 20 = 2.5
The price of a flight = $85
Marginal utility from the flight = 30 utils
Now find the per dollar utility from flight = $85 / 30 = 2.83
Since the per dollar, MU is greater in the case of flight so consumers should choose to take the flight.
Answer:
d. backorder
Explanation:
Based on the scenario being described within the question it can be said that the sales associate most likely offered to backorder the item for Linda. This is when a retailer places an order for a product that is no longer in stock for the time being, in order to comply with the customer, but will take a while for that order to come in and for the transaction to be completed.
Option C
If expectations of the future inflation rate are formed solely on the basis of a weighted average of past inflation rates, then economics would say that expectation formation is: adaptive.
<u>Explanation:</u>
Adaptive expectations hypothesis implies that investors will modify their expectations of future behavior based on current prior behavior. In finance, this impact can effect people to produce investment decisions based on the way of contemporary historical data, such as stock price activity or inflation rates, and modify the data to prophesy future exercise or rates.
If the market has been trending downward, people will possible expect it to proceed to trend that way because that is what it has been acting in the recent past.
Helps perform calculations and other manipulations of data
Answer:
B
Explanation:
Mortgages prevent government regulation of property but involve higher taxes
