Utility = x1x2. P1 = 10 and P2 =5. Income (m) = $200. The original utility maximizing quantities are: x₁ = = 10 and x2 =20. If the price of x₁ increases to 15, the substitution effect will result

Answers

Answer 1

Utility = x₁x₂. P₁ = 10 and P₂ = 5. Income (m) = $200. The original utility-maximizing quantities are x₁ = 10 and x₂ = 20. If the price of x₁ increases to 15, the substitution effect will result in a new utility maximizing quantity of x₁ = 6.67, option a.

To determine the new utility maximizing quantity of x₁ after the price of x₁ increases to 15, we need to compare the changes in the marginal utilities and prices.

The marginal utility of x₁ is given by the partial derivative of the utility function with respect to x₁:

MU₁ = ∂U/∂x₁ = x₂

The marginal utility of x₂ is given by the partial derivative of the utility function with respect to x₂:

MU₂ = ∂U/∂x₂ = x₁

To maximize utility, the consumer will equate the ratio of marginal utilities to the price ratio:

MU₁ / P₁ = MU₂ / P₂

Substituting the given values:

x₂ / 10 = x₁ / 5

Cross-multiplying:

5x₂ = 10x₁

Simplifying:

x₂ = 2x₁

Given that the original utility maximizing quantities are x₁ = 10 and x₂ = 20, we can substitute x₁ = 10 into the equation to find the corresponding value of x₂:

x₂ = 2x₁ = 2(10) = 20

Now, we need to determine the new utility maximizing quantity of x₁ when its price increases to 15. We can use the same equation and substitute the new price and the value of x₂ we just found:

x₂ / 15 = x₁ / 5

Cross-multiplying:

5x₂ = 15x₁

Simplifying:

x₂ = 3x₁

Substituting x₂ = 20:

20 = 3x₁

Solving for x₁:

x₁ = 20 / 3 ≈ 6.67

Therefore, the new utility maximizing quantity of x₁ is approximately 6.67.

The correct answer is option (a) 6.67.

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Related Questions

Q 2.29: During its most recent period, Raymond Manufacturing expected Job No. 59 to cost $600,000 of overhead, $1,000,000 of materials, and $400,000 in labor. Raymond applied overhead based on direct labor cost. Actual production required an overhead cost of $590,000, $1,140,000 in materials used, and $440,000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead?

Answers

Answer:

$70,000 overapplied

Explanation:

Raymond manufacturing expected job No 59 to cost $600,000 of overhead , $1,000,000 materials and $400,000 labour

The actual production cost is $590,000

$1,140,000 worth of materials were used and $440,000 labour cost

The first step is to calculate the overhead rate

= expected overhead /expected cost of labor

= $600,000/$400,000

= 1.5

The overhead applied can be calculated as follows

= overhead rate× real cost of labor

= 1.5 × $440,000

= $660,000

Therefore the over applied or underapplied can be calculated as follows

= $660,000-$590,000

= $70,000

Hence the overapplied is $70,000

what is the economic importance of sudan and Jordan arable
land?

Answers

Sudan and Jordan have arable land, which has an enormous economic value. Arable land plays a crucial role in Sudan's economy. Sudan's vast arable land is used primarily for agriculture, making it the country's primary source of income.

Sudan's arable land accounts for 16% of the country's GDP, and agricultural goods account for over 80% of the country's exports. Cotton, peanuts, gum arabic, and livestock are the country's primary agricultural products.

As a result, arable land has significant economic value and can boost Sudan's economy.Jordan Economic Importance of Arable LandIn Jordan, agriculture accounts for 3% of the country's GDP, and arable land is a valuable asset. Jordan's arable land produces a variety of crops, including fruits, vegetables, and cereals.

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What is the Congress or Legislative branch?

Answers

Answer:

The legislative branch is made up of the House and Senate, known collectively as the Congress. Among other powers, the legislative branch makes all laws, declares war, regulates interstate and foreign commerce and controls taxing and spending policies.

Explanation:

Why is fashion designer Kira's Plasinina father important

a. He is a businessman who helped her achieve her goals .

b. He liked her drawings .

c. He funded her ventures.

d. He was her inspiration

Answers

d . he was her inspiration

What is one benefit that you or someone you know receives as a result of government
spending?
I

Answers

Answer:

They are a more reliable means of help in anything.

One benefit is that when my family gets sick, the government pays for the NHS and we can easily get the antibiotics and care for either a lot cheaper or it would be free

What is the amount of money the Hardys will need to deposit annually (rounded to the nearest two decimal places) to achieve their down-payment goal

Answers

To determine the amount of money the Hardys will need to deposit annually to achieve their down-payment goal, they should consider factors such as the desired down-payment amount, the timeframe for saving, and the interest rate.

By dividing the desired down-payment amount by the number of years they have to save, the Hardys can calculate the annual deposit needed.

To calculate the annual deposit, the Hardys should divide their desired down-payment amount by the number of years they have to save. For example, if their down-payment goal is $50,000 and they plan to save for 5 years, the annual deposit would be $10,000 ($50,000 divided by 5). This calculation assumes no interest or investment returns.

If the Hardys want to factor in interest, they should consider a higher annual deposit to account for the growth needed to reach their goal. Additionally, it's important to round the annual deposit to the nearest two decimal places for accurate planning.

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Do believe that entrepreneurs are 'born' and not 'made'? Justify your answer.​

Answers

Answer:

Entrepreneurs are born and not made.

Explanation:

In order to be an entrepreneur you must have good business ethic and life skills, no one can make you have the mindset and ethic of an entrepreneur only influence on the skills you are already born with.

Please help. Atleast the top 2

Please help. Atleast the top 2

Answers

Answer:

Number 1 is Pure Market. Number two is socialist, I'm pretty sure.

Explanation:

Please mark me brainliest if someone else answers :>

the negative impact of the coronavirus as one of the socio- economic issues on businesses

Answers

Answer: reducuced workforce across all economic sectors and caused many jobs to be lost.

Explanation:

Can I please please get help this is do in 10 mins please please help!!!!!!!!

Can I please please get help this is do in 10 mins please please help!!!!!!!!

Answers

It is C. A business tourist

Question 1 / 10

Which of these BEST concludes the story?

Concludes means ends. Which option is the best to end the story?
A.
Rita and I will most likely make the team because of our talent.

B.
As soon as we get to school tomorrow, Rita and I will read the list.

C.
Tomorrow, Rita and I will go to the community park to practice again.

D.
If Rita and I do not make the team, we will try out for a different sport.

Answers

Answer:

As soon as we get to school tomorrow, Rita and I will read the list.

Explanation:

Because I know.

Marissa has recently accepted a job as a transcriptionist that will require several hours of typing a day. What are two pieces of advice you would give her to make sure her workstation is set up ergonomically?

Answers

Marissa will be typing for a considerable amount of time each day as a transcriptionist, which can cause physical discomfort and strain.

What kind of pay does a transcriptionist get?

A lucrative vocation with plenty of potential is transcription. An entry-level transcriptionist typically makes $19.02 per hour, whereas an accomplished transcriptionist makes $25 or $30 per hour. If you labour 2.5 hours for each day for 24 hr at this pace, you could easily make an average if $1141.2 per month.

What exactly does a transcriber do?

A transcriptionist is indeed a person who converts recorded dictation into written form, such as medical terminology. A common task of the profession is to listen to audio recordings but then type what is hear, either using a word processing computer or a stenotype machine.

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a taxpayer places a $75,000 5-year recovery period asset (not an auto) in service in 2022. this is the only asset placed in service in 2022. assuming half-year convention, an election to expense under section 179 (no bonus depreciation), and taxable income after all deductions except section 179 of $8,000, what is the amount of section 179 immediate expensing?

Answers

The amount of section 179 immediate expensing allowed for the asset is $67,000. This means that the taxpayer can immediately deduct $67,000 of the asset's cost as a business expense, rather than depreciating it over its 5-year recovery period.

Under the given scenario, the taxpayer has placed a $75,000 5-year recovery period asset in service in 2022 and has no other assets placed in service during the same year. Assuming the half-year convention and an election to expense under section 179, the amount of section 179 immediate expensing can be calculated as follows:

First, determine the maximum amount of section 179 immediate expensing allowed for the year, which is $500,000 for 2022.

Next, subtract the taxable income after all deductions except section 179 from the cost of the asset, which gives us $67,000 ($75,000 - $8,000).

Then, compare this amount to the maximum amount of section 179 immediate expensing allowed for the year ($500,000), and choose the lower amount. In this case, $67,000 is lower than $500,000.

Therefore, the amount of section 179 immediate expensing allowed for the asset is $67,000. This means that the taxpayer can immediately deduct $67,000 of the asset's cost as a business expense, rather than depreciating it over its 5-year recovery period.

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NOTE - the complete question is not avalible in serch engine.

the wto may support trade barriers when it discovers that

Answers

Tje wto may support trade barriers when it discovers that a country is violating international trade rules or engaging in unfair trade practices that harm other countries' economies.

True or false genres or categories of repertory, do not necessarily transfer from one society to the next though they may be similar. Music

Answers

Answer:

True

Explanation:

Considering the style and function of music in society, researchers have found out that music is used for different specific purposes, in every different society as well.

In other word, there is specific music for specific events, hence, it is TRUE that "genres or categories of repertory, do not necessarily transfer from one society to the next, though they may be similar."

Anika, a division manager, is purchasing materials to ensure she has enough to meet customers' demands. Anika is engaging in the ________. A) planning function B) directing function C) controlling function D) decision function

Answers

The closest answer would be Planning function

Anika, a division manager, is purchasing materials to ensure she has enough to meet customers' demands. Anika is engaging in the directing function. Thus, the correct option is B.

What is Directing function?

Directing function can be said to be a process in which the managers instruct, guide, and oversee the performance of all the workers of the organization to achieve predetermined goals. Directing function is said to be the heart of the management process in an organization. Planning, organizing, staffing have got no importance if the direction function does not take place properly.

There are four primary elements of the directing function which include supervising, motivating, leadership, and communication. The importance of Directing function include initiating actions, ensures co-ordination, improves efficiency, facilitates change and assists stability and growth.

Therefore, the correct option is B.

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Which of the following is one of the basic functions of government
accountants?
A) Government accountants file tax returns for government agencies.
B) Government accountants purchase equipment for Congress.
C) Government accountants keep track of how government agencies use taxpayers money.
D) Government accountants create businesses laws and regulations.

Answers

Answer: A) Government accountants file tax returns for the government agencies.

Answer:

D

Explanation:

Real Estate Question

A buyer is purchasing a property for $500,000. He has a down payment of $50,000 and is financing the rest. What's the amount of the loan origination fee if the lender charges one-and-a-half points? Please explain your work as well.

Answer Choices:
$5,000
$6,750
$750
$7,500

Answers

Answer:

Amount of the loan origination fee = $7,500

Explanation:

Given:

Purchase cost of house = $500,000

Down payment cost = $50,000

Lender charges point = 1.5 points[%]

Find:

Amount of the loan origination fee

Computation:

Amount of the loan origination fee = Purchase cost of house x Lender charges point

Amount of the loan origination fee = 500,000 x 1.5%

Amount of the loan origination fee = $7,500

how do people help millions 100 millions of people? 99 points for answering

Answers

Answer:

Well first, you must know there are a few requirements.

be a natural-born U.S. citizen of the United Statesbe at least thirty-five years oldbe a resident in the United States for at least fourteen years.

Then you would be helping more than 350 million people a day!

Explanation:

The FCC has the power to regulate all of the following communications EXCEPT:

Answers

The Federal Communications Commission (FCC) has the power to regulate various forms of communication in the United States except political speech.

Political Speech: The FCC does not have the authority to regulate political speech, including campaign advertisements and political debates. Political speech is protected by the First Amendment of the U.S. Constitution, which limits the government's ability to restrict or regulate free expression in the context of political discourse.

While the FCC regulates many aspects of communication, including broadcasting, telecommunications, radio frequencies, and certain content standards, it is not involved in regulating the content of political speech or the political messaging conveyed through various communication channels.

It's important to note that the FCC's regulatory authority is subject to specific laws and regulations, and its jurisdiction may evolve over time as new technologies and communication methods emerge, or as legislation and court rulings shape its scope of authority.

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Will cash bonuses speed the return to work of unemployed people? A state department of employment security notes that last year 68% of people who filed claims for unemployment insurance found a new job within 15 weeks. As an experiment, the state offers $500 to people filing unemployment claims if they find a job within 15 weeks. The percent who do so increases to 77%.

Answers

Answer:

Apparently handing out a cash incentive for getting a job when you are unemployed really works. A 9% increase in the number of unemployed people getting a new job is significant.

But this hypothesis has a flaw. Is there any way that you can tell if people quit on purpose just to be able to file for unemployment and get the cash bonus? Unemployment benefits vary a lot depending on the state, but the national average is $378 per week. If you multiply that by 4¹/₂ weeks per month = $1,701 (roughly). It is not a fortune, but its not that bad either.

If we add the extra $500 cash bonus to the total unemployment benefits, in 15 weeks a person could earn $500 + (15 x $378) = $6,170 for not working.

It doesn't make sense for someone earning a high salary to quit just to get unemployment benefits, but being unemployed pays you $6,170 / (15 x 40 hours) = $10.28 per hour and that is more than the minimum wage.

in the base year, what can we say about real gdp and nominal gdp?

Answers

In the base year, we can say that nominal GDP and real GDP are equal, but in subsequent years, real GDP provides a better measure of economic performance by adjusting for inflation.

In the base year, the inflation rate is zero, which means that the nominal GDP and real GDP are equal. This is because the prices of goods and services in the base year are used to calculate both nominal and real GDP. Therefore, in the base year, we can say that nominal GDP and real GDP are equal.

However, in subsequent years, as prices change, there will be a difference between nominal GDP and real GDP. This difference is due to inflation, which causes the prices of goods and services to increase over time.

As a result, nominal GDP will tend to overstate economic growth, while real GDP will provide a more accurate measure of economic performance by adjusting for inflation.

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What was one result of the Bretton Woods system?
A. The U.S. dollar became backed by gold for the first time.
B. The U.S. dollar was no longer accepted in most countries.
C. The U.S. dollar became more valuable and influential.
D. The U.S. dollar lost its status as the world's reserve currency.

Answers

One of the results of the Bretton woods system was that the U.S dollar became more valuable and influential.

What is Currency?

Currency is a medium for exchange for goods and services. It is a form of legal tender approved by the government and accepted by all as a means of exchange.

The U.S dollar is a popular form of currency that is accepted by most countries as a form of exchange. After the Bretton Woods system was adopted, the U.S dollar became more influential and valuable to many.

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What are the 5 parts of a check?

Answers

The five parts of a cheque are date, Payee, Amount, Signature and Memo line.

Date, The date when the cheque is being written. It is important to write the correct date, as it determines when the funds can be withdrawn from the account.

Payee, The person or organization to whom the cheque is payable. This should be the name of the person or organization that you want to pay.

Amount, The amount of money to be paid to the payee, in both numerical and written form. The written amount is the legal amount of the cheque, and should match the numerical amount.

Signature, The signature of the account holder or authorized signatory, which authorizes the bank to withdraw the funds from the account and pay the payee.

Memo line, A line provided on the cheque where the account holder can write a note or description about the purpose of the cheque or the transaction. This is an optional part of the cheque, but can be useful for record-keeping purposes.

Correct Question :

What are the 5 parts of a cheque?

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What is a loan forgiveness program? everfi
1. A legal action that can be taken if the loan company has discriminated against you.

2. A program that allows you to correct mistakes on a loan application.

3. A program that reduces or wipes away the amount of your loan if you are eligible.

4. A policy of most loan companies where up to 6 late payments are accepted without penalties.

Answers

Answer:

Option 3.

Explanation:

A program that reduces or wipes away the amount of your loan if you are eligible  is a loan forgiveness program. The Public Service Loan Forgiveness Program is designed to encourage people to get into and stay in full-time public service careers.

How does loan forgiveness programs work?

If one is qualify for full forgiveness, cancellation, or discharge of its loan, they are no longer obligated to make payments.

If one is only eligible for forgiveness, cancellation, or discharge of a portion of their loan, they must return the remaining sum.

Thus, option c is correct.

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which economic indicators most strongly suggest than an economy is experiencing the expansion phase of the business cycle?

Answers

The economic indicators that most strongly suggest that an economy is experiencing the expansion phase of the business cycle are as follows: GDP Growth Rate, Employment, Consumer Confidence, Industrial Production,  Investment and Capital Spending.

1. GDP Growth Rate: The growth rate of gross domestic product (GDP) is a crucial indicator of economic expansion. When the GDP is growing rapidly, it suggests that the economy is experiencing an expansion phase.

2. Employment: When an economy is in expansion, it will generate jobs, lowering unemployment rates. Therefore, falling unemployment rates indicate that the economy is growing.

3. Consumer Confidence: Consumer confidence is critical to the expansion phase of the business cycle. A rise in consumer confidence suggests that individuals believe that the economy will continue to grow.

4. Industrial Production: Industrial production also a crucial economic indicator. Industrial production growth shows that there is increased demand in the economy, meaning that it is growing.

5. Investment and Capital Spending: When businesses are investing in the economy by increasing their capital expenditure, it indicates that they believe the economy will continue to grow. When companies invest, it leads to increased job creation and economic growth.

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why is it impossible for firms in a monopolistically competitive industry

Answers

It is impossible for firms in a monopolisticaly competitive industry because existing businesses might band together to become a monopoly.

Initially, we must distinguish between short-term and long-term consequences.These businesses, when combined as a monopoly, would have positive economic profit in the short term. Yet, over time, this would result in a decline in profit or perhaps a loss. Due to the lack of entry barriers, new companies will enter the market and produce similar but distinct items. These new items, created by new businesses, will draw clients, and as a result, new businesses will share in some of the profits made by already-joined businesses ("monopoly"). So, we might conclude that maintaining this kind of monopoly over the long term is impossible.

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If left uncontrolled the high blood pressure can cause 1. Kidney disease 2. Heart failure 3. Stroke 4. All of above

Answers

If left uncontrolled, high blood pressure can cause kidney disease, heart failure, and stroke. Therefore, the correct option is 4. All of the above.

What is high blood pressure?

High blood pressure, also known as hypertension, is a chronic medical condition that occurs when the blood pressure in the arteries rises above the normal range. It is defined as a systolic blood pressure of 140 mm Hg or higher and a diastolic blood pressure of 90 mm Hg or higher.

Blood pressure can be controlled by making lifestyle changes like adopting a healthy diet, engaging in regular exercise, limiting alcohol intake, avoiding smoking, and maintaining a healthy weight. In addition, doctors can prescribe medications to control blood pressure if lifestyle modifications alone are not effective.

If left untreated, high blood pressure can cause damage to your body's vital organs, including the kidneys, heart, and brain. Kidney disease, heart failure, and stroke are some of the severe complications that can arise due to high blood pressure. Therefore, it is critical to manage hypertension effectively.

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What kind of businesses are motivated to earn a profit

O Public

O Government

O Private

O Nonprofit

Answers

Answer:

government is the corret answer

Most business are established for the purpose of making profits that serve their customers by selling a product or service. Private business are motivated to earn a profit. Thus, the correct option is C). Private.

What is the difference between profit and non-profit Organisation?

For-profit organization are those organization that operates with the goal of making money.  Most businesses are based on the purpose of earning for-profits that serve the customers by selling the product or service.

Not-for profit organization refers to those organizations that does not operate for profits.The major purpose of the non-profit organization is to provide the service or benefit to the community with no intention of earning a profit.

The major sources of funding for the non-profit organization are primarily funded through donations, fundraisers etc. and for the profit organizations are the sale of goods and services.

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A Ground Fault Circuit Interrupter (GFCI) is designed to do which of the following?

Select all that apply.

Detect when the current leakage is greater than 5 mA.


Protect people from severe and sometimes fatal electrocution by monitoring for electrical leakage to ground.


Interrupt the flow of electric current by tripping quickly enough to prevent electrocution from leakage

Answers

Answer: Protect people from severe and sometimes fatal electrocution by monitoring for electrical leakage to ground.

Explanation:

The main purpose of a Ground Fault Circuit Interrupter (GFCI) is to ensure that when a person gets electrocuted, the flow of electricity is cut off quickly so that no serious injuries or death occurs.

It works by monitoring the electrical leakage to the ground by checking to see if the current going to and coming from the equipment differ by a certain amount and if it does, the GFCI will interrupt the circuit.

Answer:

All of them,

Explanation:

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