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Ratling [72]
1 year ago
12

What's price in economics

Business
2 answers:
irinina [24]1 year ago
7 0

Answer:

the amount of money that has to be paid to acquire a given product.

<em>I hope this helps! ^^</em>

tatuchka [14]1 year ago
3 0

Answer:

Price is the value that a manufacturer will receive in exchange of service and goods.

You might be interested in
A lawnmower manufacturer estimates that the probability of a fatal accident caused by the design of its product is 1/10,000 and
Wewaii [24]

Answer:

790,000, i.e. $79 x 10,000= 790,000 . Yes, the manufacturer should change the design.  666,667 (when it goes from 1/10,000 to 1/15,000).  It is 500,000 (when it goes from 1/10,000 but ​1/20​,000) . No, the benevolent social planner would not agree with the manufacturer's decision.

Explanation:

In the estimates provided by the manufacturer, the total cost of the design is equivalent to  $79 x 10,000= 790,000. There should be an alteration in the design to remove the necessary precautions. If the probability is different from the estimate provided by the manufacturer, the planner will disagree with the decision made by the manufacturer. For example, a change to 1/15000 will make the total cost to be approximately $666,667.

3 0
3 years ago
GASB has issued a proposed standard that would more clearly define fiduciary activities and change the categories of fiduciary f
kramer

Answer:

a. Custodial fund

Explanation:

Custodial transaction and fund refers to the transaction, in which there is a beneficiary and a responsible. The responsible person manages the transactions of custodial account, and takes proper care of return and investment on such account.

This is basically an agency service as the person who is beneficiary is just depositing the amount top be invested which is then taken care of as an agent.

The correct option is a.

Custodial Fund.

3 0
3 years ago
Consider the following limit-order book for a share of stock. The last trade in the stock occurred at a price of $52. Limit Buy
nekit [7.7K]

Answer:

$52.25

Explanation:

From the question given, thus saying if a market buy order for 100 shares comes in, at what price will it be filled.

(a) The price it will be filled is at  $52.25

The Reason is that,the buy-market order will be filled at the price $52.25, the best value price of the sell limit orders in the book.

8 0
3 years ago
An Engel curve:________.
creativ13 [48]

Answer:

A. slopes upward for normal goods and downward for inferior goods.

Explanation:

In the case of Engle curve it plots the relationship between income and demand for a good.

In the case of the normal goods, as the income rises the demand also rises while on the other hand in the case of inferior goods, the income rises the demand false

So it sloped upward for the normal goods and slop downwards for the inferior goods  

3 0
2 years ago
You have 40 years left until retirement and want to retire with $5 million. Your salary is paid annually, and you will receive $
Marat540 [252]

Answer:

16.67%

Explanation:

Calculation to determine what percentage of your salary must you save each year

First step is to calculate the Annual savings

Annual savings=$5 million*[(10%-3%)/(1+0.1)^40-(1+0.03)^40]

Annual savings=$5 million*0.07/(1.1^40-1.03^40)

Annual savings=$8333.88

Now let determine the percentage of the salary you must save each year

Proportion of savings=$8333.88/$50,000

Proportion of savings=0.1667*100

Proportion of savings=16.67%

Therefore the percentage of your salary that you must save each year is 16.67%

5 0
3 years ago
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