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nata0808 [166]
3 years ago
6

Kevin is maximizing his utility consumption of almond butter sandwiches and sushi. There is a boom in fish in the summer and the

price of sushi suddenly drops. What will the price change most likely change in Kevin's consumption behavior? Group of answer choices Kevin will stick to his original indifference curve to a point intersecting the new budget constraint. Kevin's budget constraint and indifference curves will not change since the price of sushi has not changed Kevin will change his new budget constraint to be tangent to the original indifference curve at some point. Kevin will increase consumption with the bundle of goods at a new higher indifference curve tangent to the new budget constraint.
Business
1 answer:
olga_2 [115]3 years ago
4 0

Answer:

Kevin will increase consumption with the bundle of goods at a new higher indifference curve tangent to the new budget constraint.

Explanation:

Kevin's consumption possibilities frontier basically shows the budget constraint that Kevin faces when deciding what to purchase. It also represents the opportunity cost of consuming one product instead of another.

If the price of one of the products changes, then the whole consumption possibilities change and a new bundle of goods will be available.

E.g. Kevin had $10, sushi costs $5 and sandwiches cost $5. He can either buy 1 sushi and 1 sandwich, 2 sushis or 2 sandwiches. If the price of sushi decreases to $2.50, then Kevin's options increase. He can now purchase 2 sushis and 1 sandwich, 2 sandwiches or up to 4 sushis.

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3 years ago
Oliver's Company (OC) produces batches of chicken and beef organic dog food. Each time OC switches production from chicken to be
Vlad1618 [11]

Answer:

$3,600

Explanation:

Calculation to determine what amount of set-up costs should be allocated to the chicken dog food

Using this formula

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2 years ago
Although Rhode Island used the most paper money to deal with its financial problems, __________ refused to accept this type of c
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Although Rhode Island used the most paper money to deal with its financial problems, merchants refused to accept this currency and had to pay steep fines for doing so.

<h3>What are merchants?</h3>

Merchants are people and/or institutions aimed at commercializing goods or services.

Merchants need to have paper money of legal use to make transactions during commerce activities.

In conclusion, although Rhode Island used the most paper money to deal with its financial problems, merchants refused to accept this currency.

Learn more about merchants here:

brainly.com/question/13894095

brainly.com/question/1563664

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5 0
2 years ago
We may request personal information when you register to receive additional information ________ our products and services.
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Regarding because it makes sense
7 0
3 years ago
Read 2 more answers
rant Hillside Homes, Inc., has preferred stock outstanding that pays an annual dividend of $9.80. Its price is $110. What is the
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Answer:

The correct answer is: 8,9%.

Explanation:

The dividend yield is the amount of money a company pays to its stakeholders for owning stocks. The dividend yield is calculated on a yearly basis. The dividend yield is calculated by dividing the annual dividend of the stock with the share price of the asset. Thus, in the example:

Dividend yield = Annual Dividend / Share Price

Dividend yield = $9.8 / $ 110

Dividend yield = 0.089 <> 8,9%

3 0
3 years ago
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