Becca would be the classy rich

Q: Ahmed is considering his plans for the coming weekend. He is currently working as a marketing…

A: An incremental cost is the difference in total costs as the result of a change in some activity.…

Q: You have two options for how to spend the afternoon. You can either go see a movie with your…

A: Opportunity cost is what one gives up  (or sacrifices) when one chooses one option over another.…

Q: Freddie sees a watch for sale in the window of a shop with a price tag of $50 attached. Explain…

A: At the marketplace, there are different ways used by firms to attract consumers and to sell output…

Q: Explain the difference between a utility function and correspondence

A: A utility function in economics is a mathematical equation that explains how a person or a group of…

Q: Peter and Cindy each had some money at first. Peter started spending $1.20 daily. After 15 days,…

A: money spent by Peter daily = $1.20 money spent by Cindy = 5/3 * 1.20 = $2

Q: How should I spend my money in order to maximize my utility?”

A: Utility refers to the the satisfaction derived by consumption of a good/commodity or a service.

Q: A friend of yours mentions to you that his PIBP for a shirt is a range of $40-$50. What argumen can…

A: This answer is as follow

Q: Caden wants to buy a jacket for $48.10. If he puts $1.85 in his piggy bank each day, how many days…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: Mika earns $379 per week which she spends entirely at the grocery store, purchasing either food or…

A: Mika's weekly income = $379 Additional food stamps = $50Total money available for food = $379 + $50…

Q: You just spent $40 on a new movie for your collection. You would have preferred the director's cut…

A: Opportunity Cost is the cost of the next best alternative that is being sacrificed in order to…

Q: Joan is an employee of a manufacturing company. She was called to the office of her boss one day.…

A: Yes , this type of behaviour is totally not suitable for a business organizations. Attitude is just…

Q: Daniel Jones thought he was getting his girlfriend the best surprise Valentine’s Day gift ever. He…

A: The question states that Jones , in an attempt to surprise his girlfriend bought concert tickets of…

Q: Bryce is at the local grocery store, shopping for himself and his girlfriend Renee. This week,…

A: The two effects that may cause Bryce to purchase more chicken breasts this week than last week…

Q: Suppose there are two goods, coffee (C) and tea (T). The consumption set is R2+, so both goods can…

A: Given, Abdul owns 2000 gm of coffee Pc = 2 Dhs. Price of tea: Pt > 0 Initial endowment income =…

Q: How is a pure premium calculated?

A: To determine how the pure premium is calculated.

Q: Explain how economic forces such as employment, income, prices, interest rates, and consumer…

A: Demand for a commodity id desire backed by ability to buy and willingness to pay by an individual,…

Q: You have £20 per week to spend, and two possible uses for this money: telephoning friends back home,…

A:

Q: You are a University student who must live off-campus in the second year. There are two types of…

A: Opportunity Cost is defined as the cost of the next best alternative or the cost that is forgone.…

Q: Parker's shares of stock in ACME Corporation lost $200 in value, but his shares in XYZ, Inc. gained…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Luke has a monthly income of $80. He spends this money making telephone calls from home (measured in…

A: Budget constraint refers to all possible combinations of goods that a person can afford, given the…

Q: evi offered to sell his car to Evan for $5,000 cash. Evan responded to Levi's offer by saying: "I…

A: In contract law, a binding agreement is formed when there is an offer, acceptance of that offer, and…

Q: Anne has a job that requires her to travel three out of every four weeks. She has an annual travel…

A: The budget line is a graphic representation that shows the possible relationship between the costs…

Q: Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores…

A: Opportunity cost is the benefit that was forfeited because a specific alternative wasn't chosen. To…

Q: What is the matching concept?

A: The matching concept is an accounting practice whereby companies acknowledge revenue and related…

Q: Significance of scale of preference

A: Every individual has it's own needs and wants.

Q: Is it irrational to spend all your current disposable income

A: Answer - Disposible income :- It is the income an individual have after paying the taxes . The…

Q: opinion about "costumer is always right"

A: In my opinion ,yes customer is always right. We have to make them feel that we are willing and…

Q: What is the trend of the total utility

A: Total utility refers to the overall satisfaction or usefulness that a consumer derives from…

Q: What are the factors which determine the choice that a person makes between buying a Honda Accord or…

A: The demand for the commodity is directly related to the income or purchasing power of the consumer.…

Q: utility maximisation

A: The usefulness or enjoyment that a consumer can derive from a service or good is referred to as…

Q: Type out the correct answer ASAP with proper explanation of it . Suppose that in your first year of…

A: The deficit refers to the amount by which a person, organization, or government's expenses exceed…

Q: Utility equals satisfaction true or false

A: The concept of utility is used to analyse consumers' tastes.

Q: Give a list of factors that might influence a consumer's motivation to purchase a penthouse flat and…

A: In a general scenario, we've got five main factors that determine consumer behavior, i.e these…

Q: Catherine wins a non-transferable, non-refudnable ticket to attend Saturday's baseball game. Taylor…

A: in the above given example Catherine and Taylor are can be referred to as the consumer for the game…

Q: Explain how loss aversion impacts our decisions as consumers?

A: Loss aversion is one of the major concepts in prospect theory in behavioral economics that helps in…

Q: New York Giants star quarterback Eli Manning can sell 5 times more Giants memorabilia than any other…

A: Given,  New York Star Quarterback Eli Manning sells 5 times more memorabilia than any other team…

Q: Justin builds furniture for a living. Justin's out-of-pocket expenses (for wood, paint, etc.) plus…

A: The objective of the question is to identify the economic term that represents Justin's…

Q: Parker's shares of stock in ACME Corporation lost $100 in value, but his shares in XYZ, Inc. gained…

A: Behavioral economics is a branch of economics that incorporates psychological and cultural factors…

Q: Nora's utility function is given by U = In(C) + In(L), where U is utility, C is consumption, and L…

A: The term "labor supply" refers to how much time and effort people are willing to put in for paid…