Answer to Question #82866 in Microeconomics for billy

Question #82866

Assume a consumer with the utility function
U = U(X, Y) = (X + 2)(Y + 1) M = 95, Px= 10, and Py= 5
Set up the consumers’ budget constraint

Expert's answer

The stock turnover is calculated as

Stock turnover=(Cost of sales)/(Average stock held)=(570,000)/(124,250)=4.59 times

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