A restaurant offers an "all you can eat" meal for $9. Tyrone has eaten three servings and is trying to decide whether or not to go back for a fourth. The economic way of thinking suggests that Tyrone should go back for the fourth serving if and only if:_______. a. his marginal benefit of the additional serving is greater than zero.
b. his marginal benefit of the additional serving is at least $3.
c. his marginal benefit of the additional serving is $9 or more.
d. his total value from the meal exceeds $ Because information is costly to acquire.

Answers

Answer 1

Answer:

Answer:

a. his marginal benefit of the additional serving is greater than zero.

Explanation:

While consuming an additional unit of a commodity : consumer compares it's marginal/additional benefit (utility) MU with marginal/ additional cost i.e price P. Hence, equilibrium is where : Marginal Utility MU = Price P

However in this case, 'all you can eat' i.e unlimited food at $9. So, there is no additional cost for consuming 4th serving.

So, Tyrone will take consumption decision based on only marginal benefit - will consume if the marginal benefit i.e additional satisfaction from the 4th serving consumption > 0, because it will increase her Total Benefit/ Total Satisfaction.

If MU / MB of 4th serving is negative: she will be worse off consuming 4th unit, as it will reduce her total benefit/ satisfaction. If it's 0, she will be indifferent consuming 4th unit or not, as total benefit/ satisfaction will remain same.

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A(n) __________ consists of one person at the top of the organization and many levels of managers who are responsible to that person

Answers

The answer is hierarchy.

The way you spend your time and energy is your _____. career
lifestyle
occupation
leisure time

Answers

The way you spend your time and energy is your lifestyle.

I agree! A career is a job or occupation, an occupation is a job or profession, and leisure time is relaxing not wasting energy. I hope this helps!!

A good financial plan does not include an insurance plan.a. True
b. False User: A good financial plan does not include an insurance plan.
a. True
b. False User: Randy would like to set up a budget for a vacation he is taking next year. Which money management tool should Randy use?
printable graphs
spreadsheet
online banking
ExpensureTM

Answers

A good financial plan does not include an insurance plan.
This statement it false. Insurance plans provide a person long-term benefits that are paid at present but can be used later in the future, especially for emergency purposes (e.g. health insurance).

If Randy would like to save his money for a vacation next year he must use an online banking account. This way he can easily track his transactions day-in and day-out to save up for his trip.

Because of large reserves that center around the Persian Gulf, the Middle East often produces as much as two-thirds of the world’s supply of __________.A. water
B. cattle
C. coal
D. petroleum

Answers

your answer is D - petroleum.

the area around the Persian Gulf is desert so can't be the water, coal or cattle. But here it can be found large underground reserves of Petroleum.

Answer:

Explanation:

The Item column of the ledger account for the opening first entry for the ledger accountsshould contain the
A. word Cash.
c. account title.
B. words Opening Entry.
d. word Balance.

Answers

The first item in the ledger account's Item column for the opening entry should be the account title. This provides a clear description of the account's purpose. Following entries will include transaction details.

The question relates to the first item that appears in the Item column of the ledger account when making the first entry for the accounting period, otherwise known as the opening entry.

Typically, the first item in the ledger account should be the account title.
This means that the correct choice would be 'c. account title'.
The account title provides a clear description of what the account is used for.
The subsequent entries would then usually involve transactional details including the date, description, debit, credit, and running balance.

Learn more about Ledger Accounts here:

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It's either Opening Entry or Account title following this order

Who, what, and When.
Who would be the company or the person's name
What would be if it's a balance sheet, income statement, Chart of accounts, or trial balance.
When is the date.

Example

Stockholm's Company
Balance Sheet
February 1, 2015

Which of the following is not an objective of financial reporting? Multiple Choice 1. To provide information about the fair value of an entity’s economic resources.
2. To report financial performance from the perspective of cash inflows and outflows.
3. To provide indirect information about management’s performance in meeting its responsibilities for stewardship of the entity.Incorrect
4. To provide information that is useful to investors and creditors.

Answers

Answer:

The answer is 3. To provide indirect information about management’s performance in meeting its responsibilities for stewardship of the entity.

Explanation:

Financial reporting mainly deals with providing reliable and accurate financial information to stakeholders, investors and related parties to ensure a smooth flow of the economic activities.

However, it's not a standard of how the management perform and govern the entity. There are seperate rules and laws to ensure the transparency and the performance of the management.

Final answer:

The primary objective of financial reporting is to provide a clear and fair view of a company's financial position and performance. Reporting financial performance from the perspective of cash inflows and outflows is not inherently an objective of financial reporting. The correct option is 2.

Explanation:

The main objective of financial reporting is to provide users, such as investors and creditors, with a clear and fair view of an entity's financial performance and position.

Given this, the answer to the question, 'Which of the following is not an objective of financial reporting?' would be option 2: 'To report financial performance from the perspective of cash inflows and outflows.'

This statement is not inherently an objective of financial reporting as it focuses more on cash management. Instead, financial reporting typically focuses more holistically on the financial performance and position of the company, which may not always align directly with cash inflows and outflows. The correct option is 2.

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