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Reika [66]
1 year ago
9

Assume that Joe has​ $80 to spend on books and movies each month and that both goods must be purchased whole​ (no fractional​ un

its). Movies cost​ $8 each, and books cost​ $20 each.​ Joe's preferences for movies and books are summarized by the following information.No. per Month Movies TU Movies MU Movies MU/$ No. per Month Books TU Books MU Books MU/$ 1 50 1 22 2 80 2 42 3 100 3 52 4 110 4 57 5 116 5 60 6 121 6 62 7 123 7 63 a. Fill in the figures for marginal utility and marginal utility per dollar for both movies and books.b. Are these preferences consistent with the law of diminishing marginal utility? Explain briefly. c. Given the budget of $80, what quantity of books and what quantity of movies will maximize Joe’s level of satisfaction? Explain briefly.e. Now suppose the price of books falls to $10. Which of the columns in the table must be recalculated? Do the required recalculations. f

Business
1 answer:
vovangra [49]1 year ago
7 0

Answer:

Please see attachment

Explanation:

Please see attachment

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<span>The machine would have a cost basis of $80,000 - $86,000. All business owners must gain profit from the products that they sell by ensuring that their capital will be returned to them. Putting such costing price gives the owner the capital gains as well as earning back the expenses that he has shelled out in order to purchase the machine to be sold in the market. <span>
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8 0
1 year ago
Ghose and Han​ (2014) found that the elasticity of demand for Google Play apps is negative 3.7. This elasticity applies to a sma
scZoUnD [109]

Answer:

1) The demand will decrease by 37% as a result of a 10% increase in price:

0.10 x -3.7 = -0.37 a ngevative impact in the maginitude of 37%

2) Revneue will fall

3) The decrease in revenues will be for 30.7%

Explanation:

<u>Revenues Price x Quantity</u>

P (1 + 0.1) Q (1 - 0.37) = (1.1)(0.63) = 0.693

we apply to the price the 10% increase

and we apply to the demand the 37% decrease in quantity

The revenue will fall to 0.693 = 69.3%

100 - 69.3 = 30.7%

5 0
1 year ago
Sheridan Company purchased a delivery truck. The total cash payment was $43,718, including the following items. Negotiated purch
rosijanka [135]

Answer:

the cost of the delivery truck is $40,698

Explanation:

The computation of the cost of the delivery truck is given below:

Negotiated purchase price $34,800

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Hence, the cost of the delivery truck is $40,698

The same should be considered and relevant

7 0
1 year ago
Slide presentations help you present your content in a logical and organized manner because they allow you to present your slide
slamgirl [31]
Slide presentations help you present your content in a logical and organized manner because they allow you to present your slides: C (sequentially).

Hope I helped you :). 
6 0
2 years ago
Read 2 more answers
Despite having sufficient snow, a local ski mountain has decided to close in early march for the end of the ski season. what is
RSB [31]
<span>Most Ski resorts will try to extend the ski season as long as possible. This is because they are only going to earn money if they are open for business. In this case, the ski mountain is closing early in March instead of waiting until a more traditional time of year, probably late spring. While there may be a few reasons why the ski mountain might chose to close early even though there is sufficient snow this year, it is likely that this is a financial decision. If the ski mountain is not able to turn a profit, that is the most likely reason they will shut down early. If it is costing more to the keep the resort open then they can earn by staying open a few more weeks, then it would make sence to just shut down early.</span>
7 0
2 years ago
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