Suppose that a consumer consuming two commodities x and y has utility function of:
u(x, y) =x y . the prices of the two commodities are 12 birt and 4 birr respectively.
if the consumer has a total income of 240 birr to be spent on the two goods:
a) find the utility maximizing quantities of good x and y.
b) find the mrsxyat equilibrium and interpret the result
c) find mrsyx at equilibrium and interpret the result

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Which term refers to the cost that motivates an economic decision

Abbington company has a manufacturing facility in brooklyn that manufactures robotic equipment for the auto industry. for year 1, abbingtonabbington collected the following information from its main production line: actual quantity purchased-200 units, actual quantity used-110 units, units standard quantity-100 units, actual price paid-$8 per unit, standard price-$10 per unit. atlantic isolates price variances at the time of purchase. what is the materials price variance for year 1? 1. $400 favorable. 2. $400 unfavorable. 3. $220 favorable. 4. $220 unfavorable.