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2 years ago

Which best describes the relationship between total utility and marginal utility?.

Business

1 answer:

Whitepunk [10]2 years ago

8 0

Answer:

While total utility measures the aggregate satisfaction an individual receives from the consumption of a specific quantity of a good or service, marginal utility is the satisfaction an individual receives from consuming one additional unit of a good or service.

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some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these coun

max2010maxim [7]

Some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these countries have a freely convertible currency.

Currency is the unit of price of money that is agreed upon by the government and its people in a country. A country has its own currency, although there are several countries that have the same type of currency. For example, in Indonesia, the currency is Rupiah, while in Japan the currency is Yen. Meanwhile, countries that use the same currency include America, Ecuador, Cambodia, Panama, and the British Indian Ocean Region.

In addition, currency can also be defined as a medium of exchange for goods and services. The party or institution that has the absolute right to issue currency is the government and its central bank.

You can learn more about Currency here brainly.com/question/14372075

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1 year ago

The typical soft drink can in the U.S. has a volume of 355 cm3. The two circular ends cost $0.0008 per cm2 each (because they ar

stepladder [879]

Answer:3cm radio for each circular end. 12.56cm height.

Explanation:

Those dimensions cost is 0.01261usd per can.

Lower radio or higher radio make can more expensive.

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3 years ago

Comparing Investment Criteria Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assum

andreyandreev [35.5K]

Answer:

⚡️?

Explanation:

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3 years ago

"Economists warn of an economic downturn. Investments and lending have risen as prices have skyrocketed. Unemployment is up as b

kipiarov [429]

For me, the incorrect passage would be "Investments and lending have risen". In an economic downturn, investors are reluctant to put money on a market that is experiencing losses.

Economists warn of an economic downturn. Prices have skyrocketed. Unemployment is up as businesses move up to reduce <span>costs. The Fed considers lowering discount rates and reserve requirements to increase monetary circulation.</span>

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3 years ago

Teddy Bower is an outdoor clothing and accessories chain that purchases a line of parkas at $12 each from its Asian supplier, Te

brilliants [131]

Answer:

a) 2179 parkas

b) 0.7389

c) 174 customers

d) 10,772

Explanation:

Given:

Bower's selling price =$22

Salvage value: $0

Cost price = $12

Mean distribution= 2300 parkas

S.d = 1100 parkas

a) Number of parkas Teddy Bower should buy from Teddysports to maximize profit:

Let's first calculate overage(Co) and underage (Cu) cost.

•Cu = Selling price - Cost price

= $22 - $12

= $10

Underage cost = $10

•Co = Cost price - Salvage value

= $12 - $0

= $12

Overage cost = $12

Let's now find the critical ratio with the formula:

$\frac{C_u}{C_u+C_o}$

$= \frac{10}{12+10}$

= 0.4545

From the Excel function NORMSINV, the corresponding z value is =

NORMSINV(0.4545)

z value = -0.11

For the number of parkas Teddy Brown should order, we have:

Quantity = Mean +(z*s.d)

= 2300+ (-0.11 * 1100)

= 2179 parkas

b) for z value corresponding to expected sales of 3000 parkas, we have:

z value = (expected demand -mean)/s.d

$\frac{3000-2300}{1100}$

= 0.64

From the Excel function NOEMSDIST, the corresponding probability =

NORMSDIST(0.64)

= 0.7389 = 73.89%

In stock probability = 0.7389

c) For L(0.64) using the standard normal loss function table, L(z) =

L (0.64) = 0.158

For expected lost sales, we have:

S.d * L(z)

= 1100* 0.158

= 173.8

= 174.

On average, there is expected to be a turn away of 174 customers due to shortage.

Lets first calculate expected sales and left over inventory.

•Expected sales = Mean -expected lost sales

= 2,300 - 174

= 2,126

•Left over inventory expected=

Expected demand - Expected lost sales

= 3000 - 2126

= 874

For expected profit, we have:

$(C_u* Expected lost sales)-(C_o* Expected leftover inventory)$

=($10*2126)-($12*874)

= $10,772

Profit expected = $10,772

3 0

3 years ago