BUSINESS COLLEGE

For lunch, Maria eats only salads or vegetarian burgers. Her weekly food budget is $36. Each salad costs $6 and each vegetarian burger costs $3. When deciding how much of each good to buy, Maria knows that 2 salads and 4 vegetarian burgers will give her a utility of 8. Maria’s utility-maximizing point is:A. 6 salads, 1 vegetarian burgerB. 4 salads, 6 vegetarian burgersC. 3 salads, 6 vegetarian burgersD. 2 salads, 8 vegetarian burgers

Answers

Answer 1
Answer:

Maria’s utility-maximizing point is:  3 salads, 6 vegetarian burgers. Therefore, the correct option is C.

Given information: Each salad costs $6 and each vegetarian burger costs $3. Maria’s weekly food budget is $36.

3 salads cost will be: $6 * 3

= $18

6 vegetarian burgers cost: $3 * 6

= $18

Total cost: $18 + $18 = $36

When Maria is consuming 3 salads and 6 vegetarian burgers, she is spending $36 which is equal to her budget i.e. $36. So, it is Maria’s utility-maximizing point.

The happiness or benefit that a person obtains from consuming a good, using a service, or participating in an activity is referred to as utility. It stands for the arbitrary evaluation of how highly a person values or likes a given option or choice.

Thus, the ideal selection is option C.

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The complete question might be:

For Lunch, Maria Eats Only Salads Or Vegetarian Burgers. Her Weekly Food Budget Is $36. Each Salad Costs $6 And Each Vegetarian Burger Costs $3. When Deciding How Much Of Each Good To Buy, Maria Knows That 2 Salads And 4 Vegetarian Burgers Will Give Her A Utility Of 8. Maria’s Utility-Maximizing Point Is: A. 6 Salads, 1 Vegetarian Burger B. 4 Salads, 6

32. For lunch, Maria eats only salads or vegetarian burgers. Her weekly food budget is $36. Each salad costs $6 and each vegetarian burger costs $3. When deciding how much of each good to buy, Maria knows that 2 salads and 4 vegetarian burgers will give her a utility of 8. Maria’s utility-maximizing point is:

A. 6 salads, 1 vegetarian burger

B. 4 salads, 6 vegetarian burgers

C. 3 salads, 6 vegetarian burgers

D. 2 salads, 8 vegetarian burgers

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Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 not due for three years. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)
TB MC Qu. 05-109 Marquis Company uses... Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: August 2 10 units were purchased at $12 per unit. August 18 15 units were purchased at $14 per unit. August 29 12 units were sold. What is the amount of the cost of goods sold for this sale

Star Company has a contingent liability that has a likelihood of actual occurrence that is classified as probable. Also, the amount of the liability can be reasonably estimated. Under these circumstances, Star is required to

Answers

Answer:

recognize a liability and an expense in its financial statements.

Explanation:

Contingent liability refers to a liability that arises in some unpredictable future event. In this, the amount is expected or predicted.

Here in the question the actual occurrence would be categorized also its amount would be predicted so the same is to be recorded as a liability and recorded as an expense in the financial statement i.e. balance sheet & income statement

Research shows that projects dedicated to information security policies fail due to eight common perceived missteps. Which of the following is not one of the missteps?
a. Unclear purpose: This refers to the clarity of value the project brings.b. Doubt: This refers to the need for change; it is necessary to explain why what is in place today is not good enough.c. Lack of organizational incentives: This refers to the inability to motivate behaviorsd. Lack of complexity: This refers to an oversimplication of policies that sacrifices depth and nuance.

Answers

Answer:

d. Lack of complexity: This refers to an oversimplication of policies that sacrifices depth and nuance.

Explanation:

Projects dedicated to information security policy are improved by lack of complexity . When the process for project execution is simplified, it is easy to understand and execute the various project stages, making processes more efficient. Simplification is a valuable tool businesses are using more and more to reduce wastage and increase returns.

On the other hand complexity in a project makes it hard to understand, and easier to make time-wasting mistakes.

What is the present value of a $500 payment received at the end of each of the next five years, worth to you today at the appropriate discount rate of 6 percent? $1,105 $1,850 $2,106 $2,778

Answers

Answer:

PV= $2,106.18

Explanation:

Giving the following information:

Annual payment= $500

Number of periods= 5 years

Interest rate= 6%

To calculate the present value, first, we need to determine the future value:

FV= {A*[(1+i)^n-1]}/i

A= annual payment

FV= {500*[(1.06^5) - 1]} / 0.06

FV= $2,818.55

Now, the present value:

PV= FV/(1+i)^n

PV= 2,818.55/1.06^5

PV= $2,106.18

Final answer:

The present value of a $500 payment received at the end of each of the next five years at an appropriate discount rate of 6 percent is approximately $2,106.

Explanation:

The question you asked involves the concept of calculating the present value of a series of future payments, also known as an annuity. The present value of an annuity can be determined using the formula:

PV = PMT * [(1 - (1 + r)^-n)/r]

where 'PV' is the present value, 'PMT' is the periodic payment, 'r' is the discount rate (as a decimal), and 'n' is the number of periods.

Plugging in the values from your question we get:

PV = 500 * [(1 - (1 + 0.06)^-5) /0.06]

This will give us the present value of the cash flows. Thus, the present value for a $500 payment received at the end of each of the next five years, worth to you today at the appropriate discount rate of 6 percent is $2,106.

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Which document must a prospective buyer of an existing (resale) condominium unit receive?

Answers

Answer:

Governance Form.

Explanation:

The buyer has the right to request a copy of several documents, including the Governance Form. This form summarizes the board of directors and unit rights.

Which of the following is a normative economic statement? The poverty rate hit a new high last year and income distribution also worsened. Health care accounts for roughly a third of total spending in the economy. The government needs to revamp the Social Security program to make it sustainable. Retail sales are expected to continue on their downward trend in the next three quarters.

Answers

Answer:

The government needs to revamp the Social Security program to make it sustainable.

Explanation:

A normative economic statement is always a suggestion for the economy, whereas a descriptive economic statement is a statement providing information, as it states the facts and do not provide any suggestion.

Here, in given instance the statement,

Government needs to improve or form the Social Security Program, so that the program is sustainable, is a suggestion and not a fact.

Thus, it is a normative economic statement.

Final answer:

Among the provided statements, the one suggesting the government needs to revamp the Social Security program to be sustainable is the normative economic statement due to its prescription for improvement.

Explanation:

Normative economics involves judgments and prescriptions for economic policies or outcomes. Among the provided statements, 'The government needs to revamp the Social Security program to make it sustainable' is a normative economic statement. This statement is normative because it is based on value judgments and expresses an opinion on how things should be. It suggests a course of action that ought to be pursued to improve the Social Security program and doesn't merely describe factual aspects of the economy like the rest of the statements do.

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Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 200 $5.00 $1,000 Purchase, 1/15/18 100 5.30 530 Purchase, 1/28/18 100 5.50 550 An end of the month (1/31/18) inventory showed that 160 units were on hand. If the company uses FIFO and sells the units for $10 each, what is the gross profit for the month

Answers

Answer:

the gross profit for the month is $1,180

Explanation:

FIFO Inventory System Sell the Older Inventory Acquired first followed by the Recent Acquired Inventory

Trading Account of Effie Company

Sales (240 units × $10.00)                          $2,400

Less Cost of Sales :

200 units × $5.00 :                 $1,000

40 units × $5.50    :                 $  220

Total Cost of Sales                                     ( $1,220)    

Gross Profit                                                    $1,180
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