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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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Daniel and his intramural team just won the co-ed volleyball tournament, and they’re celebrating at an all-you-can-eat pizza pla
Gre4nikov [31]

Answer:

a. trade-offs 

c. marginal thinking 

Explanation:

Marginal thinking is when a decision maker evaluates the marginal benefits and marginal cost of a certain activity. Daniel is trying to evaluate if the extra calories (marginal cost) he would get from eating the 5th size of pizza (marginal benefit) is worth it.

Trade offs is also known as opportunity cost. It is what is sacrificed in order to carry out a certain activity. If Daniel eats the pizza, he's sacrificing a more healthy body for the extra slice of pizza.

I hope my answer helps you

5 0
3 years ago
THREE government regulations that guides the establishment and operation of a business.
algol [13]
Labor, privacy, and health
4 0
2 years ago
An individual taxpayer reported the following net long-term capital gains and losses:Year Gain (loss)1 ($5,000)2 1,0003 4,000The
Leona [35]

Answer:

A) 4000

Explanation:

Long term capital losses cannot be set of against the long term capital gains of next year

As a result an individual taxpayer should report in the

year 3 is $4000

5 0
3 years ago
In June 1985, Joseph Marcantuone and Robert Gieson purchased property located in East Orange, New Jersey. At the time of purchas
sattari [20]

Answer:

The answer would be All of the above.

Explanation:

All the above mentioned parties are related with discharge of the chemical and are liable to get the clean up done. Marcantuone and Gieson are liable as they are the owners, Lessees of the dry cleaning establishment are liable as they are the ones who operated on the effected land and Previous owners under whose ownership the lessees had taken the land on lease for a dry cleaning property.

All the parties are liable for the clean up as well as the damage occured post the clean up as well as per the law.

6 0
3 years ago
Suppose Chef Kitchen manufactures cast iron skillets. One model is a​ 10-inch skillet that sells for $ 28 . Chef Kitchen project
Lerok [7]

Answer:

production schedule for July = 815 10-inch skillets

Explanation:

price of 10-inch skillet $28

projected sales 625 units

costs:

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  • direct labor $3
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  • sales and administrative expenses $1,000

beginning inventory 60 units

ending inventory 40% of August sales

production during July = (projected sales - beginning inventory) + (40% x projected sales August) = (625 units - 60 units) + (40% x 625 units) = 565 units + 250 units = 815 10-inch skillets

6 0
3 years ago
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