Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Jack is deciding how to spend the $6 budget he has allocated for today's telephone calls. There are only two people he intends to call: his girlfriend Jill, and his old high school friend, Steve. Jack's love for Jill is such that he could talk to her forever; the marginal utility of a minute talking to Jill is a constant ten utils, regardless of the number of minutes he talks. Steve usually has a lot of interesting news, but he becomes dull and boring after awhile; the marginal utility of talking to Steve is given by the equation:
MU = 60 - 2M
where M is the number of minutes they have talked so far. So, the first minute gives Jack 58 utils, the second minute gives him 56 utils, etc.
It costs 5 cents per minute to call Jill, and 10 cents per minute to call Steve, who lives farther away.
How should Jack allocate his budget of $6 to maximize his total utility? In other words, how many minutes should Jack spend talking to Steve today, and how many minutes talking to Jill?
What is the way to define the customer’s value in marketing? As we can define the customer value like the difference among the values the customer gains by owning and using a p
Tool Belt Store (TBS) is expanding its chain of hardware stores across the country. TBS has more than 5,000 full-time employees and more than 20,000 part-time employees. TBS recent
clear this topic
#1 What is the most important benefit of listening?
Question 1: The most important test for any organization comes when it is hit by a major accident or disaster. It is required to manage such emergencies intelligently and forth
What are affective measures of customer satisfaction? Affective Measures of Customer Satisfaction Measurement: A consumer’s attitude as liking or disliking towards a produ
how international organizations contribute in international business?
In the early 90's M&M added peanut butter and almond varieties, blue was introduced in '95 and green in '97, Crispy M&M's made their debut in 1999 and Minis Mega Tubes in 2000. Now
Competition related segmentation: Hard core loyal: Hard core loyal are those customers who continue to buy the same brand over and over again. Newspaper readers, cigarette sm
what are product positioning concepts
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd