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Vera_Pavlovna [14]
2 years ago
13

Suppose your friend tells you that he recently purchased a particular product for $1000 but that the product was "priceless." al

though your friend is probably exaggerating, what would the consumer surplus equal for his "priceless" product?
Business
1 answer:
Alchen [17]2 years ago
3 0
I dont know the question
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Sean is spending the day at the water park. He paid to enter the park and can use any water ride an unlimited number of times th
aksik [14]

Answer: a. less than 50 utils.

b. Sean's marginal utility has become negative.

c. fewer times

Explanation:

Utility is the satisfaction derived from consuming a good or service. Marginal Utility is the added satisfaction a consumer gets when he/she consumes an additional unit while the total utility is the sum of how satisfied he/she is after consuming a given number of units.

Marginal utility reduces with every extra unit taken. So Sean's marginal utility of riding the Twisty River the second time is likely less than that of the first time.  Consider when you are very thirsty and you take the first sip of water. This is the most satisfying sip and the last one you take is the least satisfying.

As long as marginal utility is positive, total utility will increase. Imagine Sean gets a marginal utility of 50, 40, 30 and 10. The total utility is then 50, 90, 120 and 130 after every ride. If after the fifth ride, his total utility is 115, it means his marginal utility has become negative (maybe he threw up).

Because marginal utility reduces with every additional unit taken, Sean is not likely to keep spending the same amount of money when he is not getting the same amount of satisfaction so he will likely ride the Twisty River  fewer times.

6 0
2 years ago
After Sue purchased the business, one of her goals was better work-life balance, and she promoted employees to management positi
makvit [3.9K]

Answer:

<u>D) Compared the hours she spent with her dog to her goal of 2 hours a day of "dogtime"</u>

Explanation:

Remember, Sue wants to in the end determine whether performance met standards for the strategic objective of better work life.

Work life here includes the hours one spents in his or her job, therefore she should compare the hours she spent with her dog to her goal of 2 hours a day of "dogtime".

8 0
2 years ago
Piper owns a vacation cabin in the Tennessee mountains. Without consider-ing the cabin, she has gross income of $65,000. During
zloy xaker [14]

Answer and Explanation:

a)  rent income from sarah's vacation house will not affect her AGI, because according to rules if vacation house is used fewer than 15 days, in that case it is treated as a personal house and its expenses and income have not effect on the AGI. only the mortgage interest and property yax will be deducted from AGI.

b) only the mortgage interest and property yax will be deducted from AGI. other expenses are non-deductible from AGI because these are treated as personal expenses.

7 0
2 years ago
The total completion time is 25 days. Task A is planned to take seven days. Task B is planned to take five days. Task C is plann
Lapatulllka [165]

Explanation:

The computation of the number of slacks in the project A when it is finished is

= Total completion time -- Task A planned days - Task B planned days - Task C planned days

= 25 days - 9 days - 5 days - 8 days

= 3 days slack    

Simply we subtract the total planned days taken by each task from the total completion time on a project so that the number of slacks has come

Therefore, it came positive 3 slacks time

3 0
2 years ago
A social sciences researcher wants to know about the amount of money that couples without children spend on leisure travel. Her
Anit [1.1K]

Answer:

$18.74

Explanation:

the margin of error for a 95% confidence level = Z x (σ / √n)

  • Z for a 95% confidence level = 1.96
  • standard deviation (σ) = $160
  • sample size (n) = 280

the margin of error for a 95% confidence level = 1.96 x ($160 / √280) = 1.96 x ($160 / 16.733) = 1.96 x $9.56 = $18.74

8 0
2 years ago
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