Business, 03.01.2020 01:31 Snowball080717

Jon enjoys fishing (which costs $20) and golf (which costs $30). last month, jon fished four times and golfed twice. the last fishing outing provided jon a marginal utility of 50, and the last round of golf provided a marginal utility of 120. did jon maximize his utility according to the utility maximization rule?

a) yes, jon's utility is maximized.
b) no, the marginal utility per dollar from fishing was higher than that for golf.
c) no, the marginal utility per dollar from golf was higher than that for fishing.
d) no, jon should have spent less time on both activities.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 16:30

What are some of the miranda restrictions on questioning someone?

Answers: 1

Answer

Business, 22.06.2019 07:10

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.

Answers: 1

Answer

Business, 22.06.2019 11:00

How did the contribution of the goods producing sector to gdp growth change between 2010 and 2011 a. it fell by 0.3%. b. it fell by 2.3%. c. it rose by 2.3%. d. it rose by 0.6%. the answer is b

Answers: 1

Answer

Business, 22.06.2019 12:30

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.

Answers: 3

Answer

You know the right answer?

Jon enjoys fishing (which costs $20) and golf (which costs $30). last month, jon fished four times a...

Questions