Complete question:
The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium
a. $8 and $12
b. $6 and $4
c. $16 and $9
d. $4 and $6
Answer:
$6 and $4 set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.
Explanation:
Given,
The marginal utility of the last unit of apples consumed = 12
The marginal utility of the last unit of bananas consumed = 8
Now ,
To find :
The market level for apples and bananas, respectively, will be compatible with the consumer's equilibrium:
= 
= $6
= 
= $4
$6 and $4 set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.
Answer:
Empowerment approach is a type of approach which empowers people to do their tasks and this way they feel more confident working for the company.
Here in this question, I think that empowerment approach can be a good way to improve the responsiveness of the company because this way, it will create a sense of security in amongst the workers and they will feels confident to respond to customer needs by themselves, which in turn will ultimately lead to quick responding to the customer needs by the company. So yes, i think the answer is TRUE.
Hope this clear things up. Thank You.
Answer: he could benefit from adopting such a system, but should also consult with an accountant for advice about what's best.
Answer:
E=-4.0746
Explanation:
Using the midpoint method, Lauren's income elasticity of demand for new outfits is determined by the change in income multiplied by the average number of outfits, divided by the change in the number of outfits multiplied by the average income:
Her income elasticity of demand for new outfits is -4.0746.
Answer:
c. Involvement and empowerment of employees at all levels
Explanation:
Total quality management refers to managing the organization in order to develop a success in the long run by considering the low level workers to the high level executive, and at the same time focused on quality improvement and the customer satisfaction
Here are the following points to become important for an organization
1. Quality improvement, management leads to long term success for organization and customers
2. The deficiencies could be determined by performing the work and can be corrected through providing the training, education, etc
3. If the product contains high quality that meet the needs of the customers than it would lead to high customer satifaction
4. And, in case if there is few defective product so the company is in a position to save the cost
