Answer:
$1 per pound
Explanation:
Marginal utility is defined as the additional satisfaction that a person gains from consumption of an additional unit of a product.
Since Robinson spends all of his money on mangoes and bananas his the marginal utility per price of each product will be equal.
This is called equi marginal utility (Gossens second law).
Marginal utility of mango ÷ price of mango = marginal utility of banana ÷ price of banana
30 ÷ 3 = 10 ÷ price of mango
10 = 10 ÷ price of mango
Cross multiply
Price of mango * 10 = 10
Price of mango = 10 ÷ 10 = $1 per pound
<h3>Price elasticity of demand is 2.6
</h3>
Explanation:
The average percent change in both quantity and price is called the Midpoint Method for Elasticity.
Midpoint method for elasticity = (((Q2 - Q1) / (Q2 + Q1)/2) / ((P2 - P1) / (P2 + P1)/2))
By applying the above formulae for given problem:
- Midpoint method for elasticity = (((15000 - 10000) / (15000 + 10000)/2) / ((70 - 60) / (70 + 60)/2))
- Midpoint method for elasticity = ((5000 / 12500) / (10 / 65))
- Midpoint method for elasticity = (0.4 / 0.1538461538461538)
- Midpoint method for elasticity = 2.6
Answer: In a market with positive externalities, <u>"C. the efficient level of production is more than what competition will obtain.".</u>
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Explanation: An externality is a situation in which the costs or benefits of production or consumption of some good or service are not reflected in its market price. A positive externality is the positive effect of an activity imposed by an unrelated third party.
Answer:
Closed facts.
Explanation:
In a situation of close facts the action has already been taken before now, and the researcher is to analyse it and determine best course of action.
On the other hand when there is an open fact situation the action has not taken place yet, and the future action can be influenced to give a favorable result.
For example Jeremy has identified a research question that relates to a transaction that the client completed several months ago. This is a closed fact situation.
Answer:
An examination of returns is called an audit. Please mark me brainliest. Thank you.
