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- QUESTION 22 This question asks you to compare the Slutsky equations for the consumer's model with monetary income (CM) and for the consumer's model with endowments (CE). Consider the demand for good x and how this demand changes as the price of good x increases O a. In both the CM and the CE models, if x is a normal good, then the demand for good x must decrease O b. In both the CM and the CE models, if x is an inferior good, then the demand for good x must increase Oc Suppose x is a normal good. While in the CM model the demand for good x must decrease, in the CE model the demand for good x may increase if the consumer is a net seller of good x before the change in price Od. Suppose x is a normal good. While in the CM model the demand for good x must decrease, in the CE model the demand for good x may increase if the consumer is a net buyer of good x before the change in price Oe Suppose x is a normal good. While in the CM model the demand for good x must increase, in the CE model the…What choice on the following PPF is considered productively inefficient? A В F E Select the correct answer below: C D E Economic OutputLeast-squares regression is a statistical method for identifying cost behavior. True or False True
- The increase/decrease in variable cost from existing level to the new level is called as __cost. a.Standard b.Marginal c.Fixed d.OpportunityQuestion 9 In the standard cost formula Y = a + bX, what does the "Y" represent? O total cost variable cost per unit total variable cost total fixed costThe labor supply curve a. may slope either upward or downward, depending upon the real wage b. slopes downward to illustrate that a decrease in the real wage decreases the number of individuals willing to work c. slopes upward to illustrate that more people will want to work as the real wage increases d. slopes upward to illustrate that changes in the real wage are directly proportional to changes in the nominal wage e. slopes downward to illustrate that the availability of workers is directly proportional to the real wage
- Spirit Manufacturing is a division of Crane Communications, Inc. Spirit produces cell phones and sells these phones to other communication companies, as well as to Crane. Recently, the vice president of marketing for Crane approached Spirit with a request to make 25, 200 units of a special cell phone that could be used anywhere in the world. The following information is available regarding the Spirit division: Selling price of regular cell phone Variable cost of regular cell phone $126 63 Additional variable cost of special cell phone 51 The marketing vice president offers to pay Spirit $232 per phone. Spirit has no available capacity and would have to forgo sales of 33,200 phones to existing customers to meet this request. Calculate the minimum transfer price.Translate the following monetary payoffs into utilities for a decision maker whose utility function is described by an exponential function with R = 250: –$200, –$100, $0, $100, $200, $300, $400, $500.Answer the question on the basis of the following marginal utility data for products X and Y. Assume that the prices of X and Y are $4 and $2, respectively, and that the consumer's income is $18. Units of X 1 2 3 4 5 Marginal Utility, X Multiple Choice 20 16 12 8 6 4 4 of X and 5 of Y What quantities of X and Y should be purchased to maximize utility? O 2 of X and 1 of Y O 2 of X and 6 of Y Units of Y 1 2 3 4 5 6 O2 2 of X and 5 of Y Marginal Utility, Y 16 14 12 10 8 6
- Relevant range is the activity that affects the increase or decrease of costs Select one: O True O False Previo m Jump to... Return to: General +In what sense is the WACC an average cost? A marginal cost?QUESTION 1 Which of the following statements describes the behaviour of variable costs? O a. They are constant per unit of output O b. They vary per unit of output as production volume changes O . They are constant in total when production volume changes O d. They vary in total, from period to period when production is constant