Business, 24.02.2020 19:56 madisonvinson0
Julio receives utility from consuming food (F) and clothing (C) as given by the utility function Upper U (Upper F comma Upper C )equals FC. In addition, the price of food is $3 per unit, the price of clothing is $6 per unit, and Julio's weekly income is $50. What is Julio's marginal rate of substitution of food for clothing when utility is maximized? Explain. Julio's marginal rate of substitution equals A. 2.00, which is Julio's level of satisfaction. B. 0.50, which is the price of clothing divided by the price of food. C. 2.00, which is the price of clothing divided by the price of food. D. 2.00, which is (minus) the slope of the budget line. E. 0.50, which is the price of food divided by the price of clothing. Suppose instead that Julio is consuming a bundle with more food and less clothing than his utility maximizing bundle. Would this marginal rate of substitution of food for clothing be greater than or less than your answer above? Explain. If Julio is instead consuming a bundle with more food and less clothing than
Answers: 2
Business, 22.06.2019 07:30
When the national economy goes from bad to better, market research shows changes in the sales at various types of restaurants. projected 2011 sales at quick-service restaurants are $164.8 billion, which was 3% better than in 2010. projected 2011 sales at full-service restaurants are $184.2 billion, which was 1.2% better than in 2010. how will the dollar growth in quick-service restaurants sales compared to the dollar growth for full-service places?
Answers: 2
Business, 22.06.2019 10:00
Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.
Answers: 1
Business, 22.06.2019 19:30
Fly-by products, inc. operates primarily in the united states and has several segments. for the following segment, determine whether it is a cost center, profit center, or investment center: international operations- acts as an independent segment responsible for all facets of the business outside of the united states. select one: a. cost center b. profit center c. investment center
Answers: 2
Julio receives utility from consuming food (F) and clothing (C) as given by the utility function Upp...
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