Given the following utility function: Upper U equals 100 Upper X Superscript 0.25 Baseline Upper Y Superscript 0.75 U = 100X0.25Y0.75 and marginal rate of substitution: MRS equals negative StartFraction 0.25 Upper Y Over 0.75 Upper X EndFraction MRS = − 0.25Y 0.75X A consumer facing the following prices: Px = $ 10 10, Py =$ 1 1 chooses to consume: 12 12 units of good X and 19 19 units of good Y. Given this consumption bundle, the marginal rate of substitution is equal to minus − 0.53 0.53 (Round your answer to two decimal places. Note that the minus sign is already included.). Given this value, the consumer should consume more Y and less X in order to maximize his/her utility.

According to the law of demand, there is an inverse relationship between price and quantity demanded. that is, the demand curve for goods and services slopes downward. why?

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)

Careers in designing, planning, managing, building and maintaining the built environment can be found in the following career cluster: a. agriculture, food & natural resources b. architecture & construction c. arts, audio-video technology & communications d. business, management & administration