The Stone-Geary utility is written as u=lnU=βln(q−y) where u is the utility index; q is the commodity. (a) Find the marginal utility of this function with respect to q. (4 Pts) (b) What is the significance of a positive marginal utility? (4 Pts) (c) Find the second derivative of this Function (d) Does the function exhibit Diminishing Marginat atinty? (A Pes) (e) What does the second derivative subsest
Answers
(a) To find the margin utility of the function u = ln(U) = βln(q - y) with respect to q, we need to differentiate the function with respect to q:
u' = (∂u/∂q) = (∂/∂q) [βln(q - y)]
Using the chain rule, we can differentiate the natural logarithm term:
u' = β(1/(q - y)) * (∂(q - y)/∂q) = β/(q - y)
So, the marginal utility with respect to q is β/(q - y).
(b) The significance of a positive marginal utility is that it indicates an increase in utility as the quantity of the commodity q increases.
as q increases, the individual derives more satisfaction or pleasure from consuming additional units of the commodity. Positive marginal utility reflects the notion of "more is better" in terms of consumer preferences.
(c) To find the second derivative of the function, we need to differentiate the marginal utility with respect to q:
u'' = (∂²u/∂q²) = (∂/∂q) [β/(q - y)]
Differentiating β/(q - y) with respect to q:
u'' = -β/(q - y)²
(d) The function exhibits diminishing marginal utility. Diminishing marginal utility means that as the quantity of the commodity q increases, the additional utility or satisfaction derived from each additional unit of q decreases. In this case, the negative sign in the second derivative (-β/(q - y)²) indicates diminishing marginal utility.
(e) The second derivative suggests that the rate of change of the marginal utility with respect to q is negative, indicating diminishing marginal utility. The squared term in the denominator (-β/(q - y)²) emphasizes that the rate of decrease in marginal utility becomes larger as q increases, reinforcing the concept of diminishing marginal utility.
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Related Questions
Most stores today are near several others in one of four settings that include all of the following except which? Multiple Choice a. the regional shopping center b. the strip mall c. the old-town district
d. the community shopping center
e. the power center
Answers
Most stores today are typically located in one of four primary settings: the regional shopping center, the strip mall, the community shopping center, and the power center. Here option A and E are the correct answer.
These settings are designed to attract consumers by offering convenient access to a variety of retail options. Regional shopping centers are typically large, enclosed shopping malls that feature anchor department stores and a range of smaller retailers.
Strip malls, on the other hand, consist of a series of adjacent storefronts that are typically arranged in a linear configuration. Community shopping centers are smaller versions of regional shopping centers and are typically anchored by a single large store such as a grocery or drug store.
Power centers are outdoor retail centers that typically feature big-box retailers like Walmart or Home Depot. The one option in the list that is not one of the four primary retail settings is the old-town district.
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Your company is looking at purchasing a front-end loader and has narrowed the choice down totwo loaders. Loader 1 costs $150,000 with a useful life of seven years with a salvage value of
$10,000 at the end of the seventh year. Loader 2 costs $110,000 with a useful life of five years
with a salvage value of $10,000 at the end of the fifth year. The annual profit for either one is
$20,000. Using a MARR of 20%, which alternative should your company buy?
Answers
Based on the provided information and a minimum attractive rate of return (MARR) of 20%, the company should choose Loader 1 over Loader 2 for purchase.
To determine the better option, we need to calculate the present worth (PW) of each loader and compare them. Loader 1 has a useful life of seven years, and Loader 2 has a useful life of five years.
Both loaders have a salvage value of $10,000 at the end of their respective lifespans.
For Loader 1, the initial cost is $150,000, and the annual profit is $20,000.
Using the MARR of 20%, we can calculate the annual equivalent worth (AE) of the annual profit using the formula AE = (Annual Profit - Salvage Value) / (1 + MARR)^n, where n is the number of years. Substituting the values, AE1 = ($20,000 - $10,000) / \((1 + 0.20)^7\)= $9,090.91.
For Loader 2, the initial cost is $110,000, and the annual profit is also $20,000. Similarly, calculating the AE, we get AE2 = ($20,000 - $10,000) / (1 + 0.20)^5 = $10,909.09.
To find the PW, we multiply the AE by the appropriate factor: PW = AE * (1 + MARR)^n. For Loader 1, PW1 = \($9,090.91 * (1 + 0.20)^7\) = $53,527.19. For Loader 2, PW2 = $10,909.09 * (1 + 0.20)^5 = $55,114.80.
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Yew Industries uses a process costing system. For the month of December. the total equivalent units of production for conversion costs is 28.500 units. Beginning work in process inventory consisted of 7,000 units, which were 60% complete with respect to conversion costs. Ending work in process inventory consisted of 6,000 units, which were 75% complete with respect to conversion costs. How many units were started during the month of December? 25,500 units 24,000 units 23,000 units 27,600 units None of the above
Answers
The number of units started during the month of December is 23,000 units. The correct answer is 23,000 units.
To determine the number of units started during the month of December, we need to calculate the change in the equivalent units of production for conversion costs.
Beginning work in process (BWIP) inventory was 7,000 units, which were 60% complete, so the equivalent units of production for BWIP is 7,000 x 0.60 = 4,200 units.
Ending work in process (EWIP) inventory was 6,000 units, which were 75% complete, so the equivalent units of production for EWIP is 6,000 x 0.75 = 4,500 units.
The total equivalent units of production for conversion costs is given as 28,500 units.
To find the units started during December, we use the formula:
Units started = Total equivalent units of production - Equivalent units of BWIP - Equivalent units of EWIP
Units started = 28,500 - 4,200 - 4,500
Units started = 19,800 units
Therefore, the correct answer is 23,000 units (None of the above).
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Who watches Riverdale ? if you do can we be friends(pLEASE DON'T DELETE) and also who is your fav character from Riverdale
Answers
Answer:veronica
Explanation:
sure
Answer:
yes i love riverdale my fav character is cheryl or betty
Explanation:
Describe how basic business concepts are important to marketing?
Answers
The advantage of marketing for your business is that it engages customers and influences their decision to buy your products or services.
What fundamental ideas underlie business?A business concept is essentially a condensed explanation of the idea that drives a company's existence. It outlines the main consumer issues it wants to address, explains how the concept relates to a market, and offers clear guidance when developing a business plan.
What role does the business concept play?It not only establishes the foundation for the subsequent business plan, but also develops your idea, describes the customer issue it seeks to address, and examines how the idea will fit into the larger market. It's a bite-sized overview that you can distribute to potential partners, lenders, and/or investors.
What role does the marketing notion play in business?The benefit of marketing for your company is that it engages consumers and helps them decide whether to purchase your goods or services. A marketing strategy, which is a component of your business plan, also aids in establishing and sustaining demand, relevance, reputation, competition, etc.
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Write an article for publication in your School magazine on the topic the relationship between parents and their children should b7
e cordial
Answers
answer:
article
Explanation:
I hope it can help you , please mark me as brainiest
The relationship of a child with his\her parents should be transparent and healthy. Both should share a cordial relationship.
Why is it important to have a healthy and open relationship with parents?It is important because we all are living in a dynamic environment full of uncertainties and for children to know, understand and take the right decisions in life; parents' guidance is of utmost significance.
Children should feel free to discuss their day-to-day problems with their parents, as a result, parents can understand them better and guide them towards a better and bright future.
Thus, it's important for children to have deep bonding with their parents, and in the same way, parents should give liberty to their children to share their inner emotions.
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started business with cash Rs 100000 and furniture Rs 50000
Answers
Answer:
See below
Explanation:
Cash and furniture are assets. An increase in assets is debited. The amounts used to buy the in facilitating the transactions is the capital.
The journal entry will be as below,
Cash A/c Dr. Rs 100,000
Furniture A/c Dr. Rs 50,000
Capital A/c Cr. Rs 150,000
On March 17th, Rollo's Antiques accepted a credit card for a $1,000 purchase. The credit card company charges a 2% service fee. The entry to record this transaction would include a A : credit to Service Charge Expense of $20. B : debit to Cash of $1,000. C : debit to Service Charge Expense of $20. D : credit to Cash of $980.
Answers
Answer:
C : debit to Service Charge Expense of $20
Explanation:
The complete journal entry used to record this transaction would be:
March 17, 202x, sales revenue
Dr Cash 980 (assuming the transaction is processed automatically)
Dr Service charge (or Credit card) expense 20
Cr Sales revenue 1,000
Since the credit card company is charging you a 2% commission ($20), we must consider it an expense. Remember that all expenses must be debited.
Thirsty Dog! Is a zesty beef-flavored, vitamin-enriched, mineral-loaded, lightly carbonated bottled water for your dog. It might have been a great product, but competition over shelf space was fierce and the product could not generate enough sales per square foot for retailers. The makers of this product had
Answers
What effect do communication skills have on ability to pursue
Answers
Answer:
you. dummy joking I. don't know
Which profession do you prefer ro choose for your career?Engineer or Architect? Why?
Answers
Answer:
Architects
Explanation:
In my opinion,
Architects create new design concepts that push how modern day construction is executed.Architecture is one of the few professions that is never static.” Recently, architects have become more and more concerned with environmental and socially responsible building practices and materials.what is the purpose of creating a prototype?
Answers
Answer:
Prototypes provide a way to see how a possible product, idea, design, etc., would function in natural environments (not in the lab/workshop), but in the real world. They also can let designers, and those building it see if there are anything that needs to be changed or altered.
Which of the following is a list of liabilities?
A.accounts payable, bank loan, taxes payable, tax expense
B.accounts payable, bank loan, wages, taxes payable
C.accounts receivable, bank loan, taxes payable, accounts payable
D.accounts payable, bank loan, taxes payable, workers compensation payable
Answers
Explain an Argument In the section "Consequences of Ending Rent Control," you read that most economists argue that the benefits of ending rent control exceed the costs. Do you agree? Why or why not?
Answers
Answer:
Disagree Option
Explanation:
Setting prices ceilings on rent can cause the balance in supply and demand to fall short of each other. For example, let's say the equilibrium for supply and demand was 5 apartments for $100 a month and that the supply at $100 was 5 apartments. If you created a price ceiling at $90, this would cause a greater demand but less of a supply generating an apartment shortage.
AI Motors, a manufacturer of self-driving delivery trucks, is working on developing its next-generation electric vehicles. It has decided on a strategy of focusing on a narrow buyer segment and outcompeting rivals by offering buyers customized autonomous, self-driving electric vehicles at a lower cost than rivals. What basic strategic approach has AI Motors decided upon
Answers
Answer: best cost strategy
Explanation:
The basic strategic approach that AI Motors decided upon is referred to as best cost strategy.
Best-cost strategy is used when companies offer their customers better value for money through the focus on making a difference to their product and also offering a low cost.
In this situation, Al Motors used the best cost strategy which helps in keeping its prices lower than others and also making its vehicle unique from others.
if imports exceed exports, as in recent years, then __________ exists.
Answers
Which of the following is not part of the balance of payments
Answers
Option (d), Each is taken into account in the payment balance. The balance of payments is composed of three components: the current account, capital account, and finance account.
What is excluded from the balance of payments?The current account of the balance of payments does not include investments. The current account of payment balance is calculated by averaging the balance of trade, netfactor income, and net transfer payment. Current account for the BOP is either positive, indicating a surplus, or negative, indicating a deficit.
Economic surplus is one of the balance of payments' components, right?The trade of goods and services affects the country's balance of payments. If a country is able to export more goods and services than it can import, it is said to be in a surplus.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
us bank pulls from what credit bureau washington state
Answers
what is one of the effects that the internet has had on bussiness?
Answers
In which workplace are workers least likely to be injured by heavy equipment? a greenhouse a slaughterhouse a farm a quarry
Answers
Answer:
A green house
Explanation:
a slaughterhouse a farm a quarry
use heavy equipment and even tho they have more safety then a green house you could still even die on the job where in a green house the most you could get a a cut from a knife or something.
Please correct me if I'm wrong LOL
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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Taking into account the example of buying "iPads" for personal use versus buying more than "100 iPads" for a firm, how you can differentiate between the consumer buying process discussed in Chapter-6 and the B2B buying process discussed in Chapter-7?
Answers
The buying process differs between consumer buying and B2B buying.
In consumer buying, the focus is more on the buyer's emotions and desires, whereas, in B2B buying, the focus is on practical factors such as cost, quality, and customer service.
In Chapter 6, the consumer buying process was discussed in which five stages were identified. These stages include problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. On the other hand, chapter 7 discusses B2B buying, which is different from consumer buying. In B2B buying, organizations buy goods and services to produce goods and services that will be sold to other businesses or consumers. In Chapter 7, the B2B buying process was discussed in which eight stages were identified, which include problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review.
In the example of buying "iPads" for personal use versus buying more than "100 iPads" for a firm, the buying process is different. In the case of consumer buying, the individual buyer is more focused on the emotional appeal of the product and makes the purchase decision based on their emotions and desires. On the other hand, in B2B buying, the buying decision is more practical, and the buyer is more focused on cost, quality, and customer service.
The consumer buying process discussed in Chapter 6 is more focused on the buyer's emotions and desires. The process involves five stages, which include problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. In the case of buying an iPad for personal use, the individual buyer is more focused on the emotional appeal of the product, such as the design, features, and brand name, and makes the purchase decision based on these factors. The individual buyer is not concerned with the cost or quality of the product, as they are willing to pay a premium price for a product that meets their emotional needs. On the other hand, the B2B buying process discussed in Chapter 7 is more focused on practical factors such as cost, quality, and customer service. The process involves eight stages, which include problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review. In the case of buying more than 100 iPads for a firm, the buying decision is based on practical factors such as cost, quality, and customer service. The firm is not concerned with the emotional appeal of the product, as they are buying the product to use in their business.
The buying process differs between consumer buying and B2B buying. The consumer buying process discussed in Chapter 6 is more focused on the buyer's emotions and desires, whereas the B2B buying process discussed in Chapter 7 is more focused on practical factors such as cost, quality, and customer service.
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darla’s cosmetics had annual credit sales of $1,440,000 and an average collection period of 45 days in 2018. what was the company’s average accounts receivable balance? (use a 360-day year.)
Answers
The company’s average accounts receivable balance in 2018 was $180,000.
To calculate the company's average accounts receivable balance, we need to consider Darla's Cosmetics' annual credit sales of $1,440,000 and an average collection period of 45 days in 2018, using a 360-day year. Hence,
1: Find the daily credit sales by dividing annual credit sales by the number of days in the year (360 days).
Daily credit sales = $1,440,000 / 360 = $4,000
2: Multiply daily credit sales by the average collection period (45 days) to find the average accounts receivable balance.
Average accounts receivable balance = $4,000 * 45 = $180,000
So, in 2018, the average accounts receivable balance was $180,000.
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A monkey’s choosing a circle from an array of geometric shapes in order to be rewarded with a banana is an example of.
Answers
A monkey’s choosing a circle from an array of geometric shapes in order to be rewarded with a banana is an example of Stimulus discrimination.
The idea of stimulus discrimination is applied in both classical conditioning and operant conditioning. It requires the ability to distinguish between stimuli that are similarly stimulating. It alludes to only responding to specific stimuli and avoiding comparable stimuli in both scenarios.
A crucial step in the learning process known as classical conditioning is the creation of links between two stimuli. In this process, discrimination refers to the capacity to distinguish between a conditioned stimulus and other stimuli that have not been linked with an unconditioned stimulus.
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The idea of stimulus discrimination is applied in both classical conditioning and operant conditioning. It requires the ability to distinguish between stimuli that are similarly stimulating. It alludes to only responding to specific stimuli and avoiding comparable stimuli in both scenarios.
A crucial step in the learning process known as classical conditioning is the creation of links between two stimuli. In this process, discrimination refers to the capacity to distinguish between a conditioned stimulus and other stimuli that have not been linked with an unconditioned stimulus.
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In which situation does one country have an absolute advantage over another country?
A. government charges lower taxes
B. workers earn higher wages
C. production costs are lower
D. infrastructure is more advanced
I think it’s could be C or D but I don’t know
Answers
In option C, if one country has lower production costs than another, it can produce the same amount of goods or services at a lower cost, which would give it an absolute advantage. On the other hand, options A, B, and D do not necessarily indicate that one country has an absolute advantage over another. For example, a country with lower taxes or higher wages might be able to attract more investment or skilled workers, but this doesn't necessarily mean it can produce goods or services more efficiently than another country. Similarly, a country with more advanced infrastructure might have certain advantages, but this doesn't necessarily translate to an absolute advantage in all industries.
Which describes the qualifications for someone in Law Enforcement Services?
O Communication skills for interviewing citizens, and confidence in challenging criminal behaviour.
O Knowledge of medical procedures, and emergency room codes.
O Knowledge of architectural concepts and bulidng plans.
O High awareness of ocean practices for in water rescue
Answers
Answer: Communication skills for interviewing citizens, and confidence in challenging criminal behaviour.
Explanation:
A person working in law enforcement needs to be able to convince citizens that they are working in their best interest. They need to know how to communicate effectively with people so as to get information from them and build trust.
They should also be brave enough to confront crime when needed because their main purpose is to keep people safe.
Answer:
A
Explanation:
Cuz god. And i meant to not capitalize the G.
If a company receives cash from a customer before performing services for the customer, then:.
Answers
Answer:
assets increase and liabilities increase. ... individual accounting record of increases and decreases in specific asset, liability, and stockholders' equity items.
A manufacturing company provides jobs for many people in a small town where employment is not easy to find. The company has stayed in the town even though it could find cheaper workers elsewhere, because workers are loyal to the company due to the jobs it provides. Over the years, the company has developed a reputation in the town for taking care of its employees and being a responsible corporate citizen.
The manufacturing process used by the company produces a by-product that for years has flown into the town river. The by-product has been considered harmless but some people who live near the river have reported illnesses. The by-product does not currently violate any anti-pollution laws.
WHAT ARE THE ANSWERS TO THESE QUESTIONS?
What are the issues of integrity, ethics and law posed in the case study? What options does the company have, and what should it do and why?
Answers
Explanation:
Note, the term integrity often refers to the ability to keeping to one's moral principles, such as honesty. And ethics refers to the principles of right and wrong one might have.
For example, from this case, we observe that
although the company is known to have a good reputation over the years and of being a responsible corporate citizen, if it fails to act, then the company's integrity comes under question.Even though the by-product does not violate any laws, failing to take action may taint the good reputation it has had considering the fact that the company is well aware that "some people who live near the river have reported illnesses."
Giving For such example are, from this case, we observe that is:
Thus, although the company is known to have a good reputation over the years and of being a responsible corporate citizen, Then if any it fails to act, then the company's integrity comes under the question of law. Also that Even though the by-product does not violate any laws, Then it is failing to take action may taint the good reputation it has had considering the fact that the company is well aware that is "some people who live near the river have reported illnesses."Learn more about:
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Most businesses use __________ networks.
wired
wireless
Answers
Answer: wired
Explanation:
wired is the cheapest