What determines the value of an item? -the amount of goods that are produced
-the capital required to build the factory
-the unlimited wants of the consumers
-the resources consumed in production

What other aspects of ecuadorian culture, other than its predominant religion and language, might affect that country’s culture?

Elephant, inc.'s cost of goods sold for the year is $2,000,000, and the average merchandise inventory for the year is $129,000. calculate the inventory turnover ratio of the company. (round your answer to two decimal places.)

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x, y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.