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Q: Currently, your bank holds $8 million in deposits at a 4% interest rate. However, you need to…

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Q: Explain what the utility maximizing choice means. Discuss how you could use marginal utility to…

A: Utility is characterised as the whole satisfaction a customer experiences when utilising a good or…

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: Imagine you are a bank manager. Currently, your bank holds $8 million in deposits at a 4% interest…

A: Interest rate elasticity of savings is given by the formula, E = Change in DepositsOriginal…

Q: Explain how changes in income (budget constraint) and prices affect consumer consumption choices.…

A: Considering a 2 good case given the prices and income levels of consumer budget constraint / line is…

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: 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: Why do people purchase more of something when its price falls?

A: Law of demand states that when other things remain the same increasing price leads to reduces the…

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: How does change in price affect CONSUMER OPPORTUNITIES?

A: Microeconomics refers to the branch of economics that is concerned with a single factor and affects…

Q: Would you call your refrigerator a comfort or a necessity?

A: Necessity commodities are those products and services that customers can purchase regardless of…

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: 5. Describe, and show graphically, how the bandwagon and snob effects affect the market demand curve…

A: Bandwagon and Snob effects are part of network externalities. The former is a positive externality,…

Q: does poverty have an effect on juvenile deliquency?

A: Yes, poverty has an effect on juvenile delinquency. Poverty is a major repeating factor of juvenile…

Q: It is a set of those combination of two goods which offer the consumer the same level of…

A: It is the Indifference set which act as an combination of the two goods which actually offers 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: You purchased five video games at $20.00 each and eight apps from iTunes for $2.99 each. The fifth…

A: The utility function refers to all those commodity bundles that derive the same amount of utility…

Q: Explain the four kinds of utility.

A: In economics, to represent benefit or worth, the idea of utility is utilized. Its use has grown…

Q: A celebrity starts an ad campaign talking about the dangers of vaping. What is likely to happen?…

A: The market demand curve shows the negative relationship between price of the good and its quantity…

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: How much is steve willing to pay for one bag of potato chips?

A: Demand refers to the willingness and ability of the consumer to pay for goods and services.

Q: In 2001, the typical consumer in Volcania spent $3577 on all goods and services. They spent $1967.35…

A: Total expenditure done by consumer = $3,577 Expenditure on food = $1,967.35 Percentage of budget…

Q: When a consumer is below the budget line, what does it mean?

A: According to the given question A budget line is gradually a line which have other name that is the…

Q: What product do you use that you would use regardless of the price? Why? Is this related to price…

A: ***Since, according to guidelines external links cannot be used while answering, so, the expert has…

Q: Jayden's grandmother gives him $240$⁢240 each month, which he spends on pizzas and burgers. Usually,…

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Q: How does a consumer determine how much of a good he or she will buy?

A: In a market, when a consumer wants to purchase a specific good, he needs to decide how much quantity…

Q: How does a sudden decrease in consumer confidence due to a significant political event impact the…

A: Consumer confidence refers to how optimistic or pessimistic consumers are about the economy's…

Q: Last year Bob purchased a plane ticket for $300. He was unable to take the trip so he received a…

A: Explicit costs are the actual out of the pocket expenditure of a firm or an individual. Implicit…

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: What are the two things consumers can do with income?

A: Income is the financial gain earned during a particular period of time.

Q: Pepsi and coke are Substitute or compliment good?

A: The goods which can be used in place of one another to fulfill the needs of a consumer are termed as…

Q: What is meant by autarky?

A: A country that is autonomous is referred to as being autarkic. Countries that practice autarky are…