Inventing a new soft drink - what would be the input - the conversion, and the output?

Answer:

the income is $1,330

Explanation:

The computation of the income is shown below;

Given that

U(x, y) = min{x, y2}

Price of x is $25

ANd, the prcie of Y is $15

So,

25X + 15Y = M

if Y = 7,

So,  

At eqm, X = Y^​​​​​​2 = 49

Then ,

M = 25 × 49 + 15 × 7

= 1225 + 105

= 1330

Hence, the income is $1,330

The same should be relevant and considered too

For utility maximization, Elmer's income should be $1330, considering his consumption of 7 units of y at $15 each and a maximum of 49 units of x at $25 each.

To find Elmer's income for utility maximization, we need to consider his utility function, the prices of the goods (x and y), and the quantity of y he chooses to consume.

Elmer's utility function is U(x, y) = min{x, y^2}, which means his utility depends on the minimum of x and y^2. In this case, he chooses to consume 7 units of y at a price of $15 each, so his expenditure on y is 7 * $15 = $105.

Now, we need to find out how much he is willing to spend on x to maximize his utility. Since the utility function takes the minimum of x and y^2, we want to make x as small as possible to keep utility high. Let's assume he consumes x units of x.

For utility maximization, x must be the minimum between x and y^2. In this case, x <= y^2, so x <= 7^2 = 49.

Now, we need to find the price of x, which is $25 per unit.

To maximize utility, he should spend his remaining income on x, so his income (I) should satisfy:

I = expenditure on x + expenditure on y

I = (x * $25) + ($105)

We know that x <= 49, so let's assume he consumes the maximum possible x, which is 49. Therefore,

I = (49 * $25) + ($105)

I = $1225 + $105

I = $1330

So, Elmer's income for utility maximization should be $1330.

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Complete question below :

If Elmer's utility function is U(x, y) = min{x, y^2}, and he chooses to consume 7 units of y at a price of $15 each, what must his income be for utility maximization?

Answer:

D) machines and factories; knowledge one picks up through education and training

Explanation:

The physical capital is the capital that has the physical existence i.e. tangible. It could be seen, feel, or even touched. examples like plant, machinery etc

While on the other hand the human capital is intangible it only effects the production and the operations

Like - skills, knowledge, experience of a worker

Therefore the option D is correct

Answer:

1) Bad debt expense (Debit)           1,800

   Accounts receivable (Credit)      1,800

2) $12,200

Explanation:

1) Write off method of accounting directly credits accounts receivable instead of creating a provision for doubtful debt. Therefore following entry is recognized

Bad debt expense (Debit)             1,800

Accounts receivable (Credit)        1,800

2) Ledger balance of accounts receivable is $ 12,200 calculated as follows:

Opening Balance (31 January 2014)                15,000

Add: Sales on account during February         18,000

Less: Collection during February                    (19,000)                

Less: Written off                                                 (1,800)

Balance at 28 February 2014                        $12,200

Answer:

Depreciation expense for 2018 was $880

Depreciation expense for 2019 was $2,640

Explanation:

The company uses straight-line depreciation method, Depreciation Expense each year is calculated by following formula:  

Annual Depreciation Expense = (Cost of furniture − Residual Value )/Useful Life = ($31,000-$4,600)/10 = $2,640

Depreciation Expense per month = $2,640/12 = $220

Depreciation Expense for 2018 (from September 1, 2018 to December 31, 2018) = $220 x 4 = $880

Depreciation Expense for 2019 = $2,640

Answer:

The correct answer to the following question will be Option C.

Explanation:

• Constant cost industries seem to be a sector wherein the proportion of units produced as well as manufacturing costs every unit maintains the very same irrespective including its amount of manufacturing or rise in population. Which doesn't use input data in the appropriate amount to influence the rates of that same components by a shift in industry revenue.
• This doesn't even use inputs in such amounts that perhaps the costs of that same inputs will be influenced by a change in business production.

The other choices are not linked to an industry of this kind. Therefore the clarification above is correct.