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tresset_1 [31]
2 years ago
14

Abby, Bobbi, and Deborah each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and

paperback novels cost $8 each. Abby has a budget of $80, Bobbi has a budget of $60, and Deborah has a budget of $40 to spend on ice cream and paperback novels. Which of the following statements is correct?
a. Each woman faces the same budget constraint.
b. The slope of the budget constraint is the same for each woman.
c. The area underneath the budget constraint is larger for Deborah than for Abby.
d. All of the above are correct.
Business
1 answer:
umka2103 [35]2 years ago
3 0

Answer:

b. The slope of the budget constraint is the same for each woman.

Explanation:

Budget Line is the combination of two goods that a consumer can buy, given prices & money income (all spent).

Equation : p1x1 + p2x2 = m ;

where p1 & p2 are price of good 1 & 2 , x1 & x2 are quantities of good 1 & good 2 , m = money income  

  • Abby's Budget Line : 5I + 8N = 80
  • Bobbi's Budget Line : 5I + 8N = 60
  • Deborah's Budget Line : 5I + 8N = 40 [ I = Icecream, N = Novel ]  

Slope of Budget Line represents change (sacrifise) of a good needed to get change (gain) of other good, given same prices & income.

Slope = ΔY/ΔX = Px / Py

Since prices are same for each woman, price ratios & hence the slope of budget line will also be same for all of them.

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Answer:

The correct answer is: The second worker.

Explanation:

Productivity is an economic term describing the relationship between outputs as compared to inputs needed to produce those outputs. It is a measure of efficiency. Typically inputs are raw materials, labor, and capital assets. Outputs are generally expressed as either revenue or total units of finished goods.

In the example, a form to measure each worker's productivity is comparing how many plastic labels they can place per hour. Thus:

  • Worker 1: <em>1000 per 1/2 hour (30 minutes) </em>
  • Worker 1: <em>2000 per 1 hour  </em>

  • Worker 2: <em>850 per 1/3 hour (20 minutes)</em>
  • Worker 2: <em>2550 per 1 hour </em>

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Evans' rule says that if n = 50 you need at least 5 predictors to have a good model.
olya-2409 [2.1K]
I believe that is false.
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A department store chain is expanding into a new market, and is considering 16 different sites on which to locate 5 stores. assu
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We can find the number of ways by multiplying the amount of possibility each store can have.

For store 1, it can be placed on 16 sites. Store 2 can be placed on 15 sites (since store 1 is already on site 1). Store 3 can be placed on 14 sites and so on until store 5 which has 12 sites.

Therefore the number of ways is:

C = 16 * 15 * 14 * 13 * 12

<span>C = 524,160 possibilities</span>

3 0
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Samson's purchased a lot four years ago at a cost of $398,000. At that time, the firm spent $289,000 to build a small retail out
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Answer:

initial cash flow is 2,929,000

Explanation:

Attached is the table

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PeopleMag sells a plot of land for $100,000 to Seven Star Company, its 100 percent owned subsidiary, on January 1, 20X7. The cos
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Answer:

PeopleMag cannot report a gain on the sale of land for 2007 or 2008 in the consolidated financial statements

Explanation:

PeopleMag cannot report a gain on the sale of land for 2007 or 2008 in the consolidated financial statements. The land must be reported on the consolidated balance sheet at its original cost of $75,000. The intercompany gain is unrealized and is eliminated. In 2009, the entire gain of $45,000 ($120,000 - $75,000) is realized and recognized when the land is sold to an outside party.

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