Answer:
A. slopes upward for normal goods and downward for inferior goods.
Explanation:
In the case of Engle curve it plots the relationship between income and demand for a good.
In the case of the normal goods, as the income rises the demand also rises while on the other hand in the case of inferior goods, the income rises the demand false
So it sloped upward for the normal goods and slop downwards for the inferior goods
Well 50% of 50,000 is 25,000 so I’d say make sure your cars don’t go above 15,000 a Year cause Car(s)
Answer:
a. product platform
Explanation:
Product platform -
It refers the process of designing , where all the parts of the goods or services have some common element in common , is referred to as product platform .
The method is used to -
- increases the process of developing new products ,
- reduce the cost of development ,
- a single element acts as a identification for the product .
Hence , from the given scenario of the question ,
The correct option is a. product platform .
Answer:
The correct option is c. $8.
Explanation:
Ken will maximize utility where the following equation holds:
MU of Sprite / Price of Sprite = MU of potato chips / Price of potato chips ................. (1)
Where;
MU of Sprite = Marginal utility of Sprite = 3
Price of Sprite = $1 per can
From the table in the question, equation (1) holds at the point where Marginal utility of potato chips is 6 since the Potato chips cost $2 per bag.
Substituting the values into equation (1), we have:
MU of Sprite / Price of Sprite = MU of potato chips / Price of potato chips => 3 / 1 = 6 / 2 = 3
Since when the marginal utility of potato chips that maximizes utility is 6, Ken consumes 4 Bags of Potato chips monthly and pays $2 per bag at this point, the amount he spends on potato chips each month can be calculated as follows:
Amount spent on potato monthly = Number of bags of Potato chips consumed monthly * Cost of potato chips per bag = 4 * $2 = $8
Therefore, the correct option is c. $8.
Answer:
$450
Explanation:
Activity based costing is the process by which a business allocates cost on the basis of the number of times an activity is carried out.
For example if different departments use a photocopier to copy 3,000, 5,000, and 2,000 sheets. The total cost will be allocated based on amount of activity per department.
In this instance
Total number of boards= 36,000
Inspections= 5% of the total
Inspection cost= $15 per hour
Percentage that will be inspected= 0.05 * 36,000 = $1,800
It takes one minute to inspect each board, there are 60 minutes in one hour. So 60 boards are inspected in one hour.
Number of inspection hours= 1,800 ÷ 60= 30 hours
Total cost of inspection= Cost per hour * Number of hours
Total cost of inspection= 15 * 30= $450
