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larisa86 [58]
2 years ago
13

Assume both Paul and Cliff divide their time equally between the production of corn and wheat, and they do not trade. If they ar

e the only producers of wheat and corn, then total production of wheat and corn is
Business
1 answer:
vazorg [7]2 years ago
4 0

The answer is 7 bushels of wheat and 7 bushels of corn.

Referring to the diagram in the attached image.

If both Paul and Cliff dedicate their time entirely to one crop.

Paul can grow 8 bushels of wheat and Cliff can grow 6 bushels of wheat

Or Paul can grow 10 bushels of corn and Cliff can grow 4 bushels of corn.

But If they divide their time equally between the two crops, each can grow half of each crop,

Then Paul will be growing 4 bushels of wheat and 5 bushels of corn.

And Cliff will be growing 3 bushels of wheat and 2 bushels of corn.

Total production = Paul's production + Cliff's production

                           = (4 bushels of wheat+5 bushels of corn) + (3 bushels of wheat+2 bushels of corn)

                          = (4+3) bushels of wheat + (5+2) bushels of corn

                          = 7 bushels of wheat + 7 bushels of corn

Hence, total production is 7 bushels of wheat and 7 bushels of corn.

Learn more about total production:

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Your company repairs household appliances such as microwaves, dishwashers, and clothes dryers. Your manager, Naomi, is excited a
muminat

Answer:

bbb

Explanation:

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5 0
2 years ago
Read 2 more answers
According to the classical dichotomy, when the money supply doubles, which of the following also doubles?
masha68 [24]

Answer: Option (C) is correct.

Explanation:

Correct option: The price level and nominal wages.

According to the classical dichotomy, nominal variables moves proportionately with the quantity of money whereas real variables remains unchanged.

A classical model that is based on the flexibility of prices and wages, conclude that any changes in money supply only affects the nominal variables whereas real variables remains constant. This theory results in the independence of the real variables from any changes in the money supply and nominal variables.

7 0
3 years ago
Your bank offers to pay you a 3% interest rate on a one-year fixed-deposit saving account. The inflation rate is expected to be
Lubov Fominskaja [6]

Answer: By the end of the year I would be worst off

Explanation: This is because my savings would shrink ,although an interest is paid on the fixed account, the interest is not increasing at the rate at which the inflation is growing.

At any time savings don’t increase at the same rate as inflation, the owner of the fixed savings account will effectively lose money.

This is because with an increase in inflation comes a reduction in the buying power of an individual.

7 0
3 years ago
Universal Foods issued 10% bonds, dated January 1, with a face amount of $176 million on January 1, 2021 to Wang Communications.
natima [27]

Answer:

January 1, 2021

Dr Investment in bonds $176 million

Cr Discount in Investment in bonds $24,226,136

Dr Cash $151,773,864

June 30, 2021

Dr Cash $8,800,000

Dr Discount in Investment in bonds $897,538

Cr Interest Revenue $9,607,538

December 31, 2028

Dr Cash $8,800,000

Dr Discount in Investment in bonds $897,538

Cr Interest Revenue $9,607,538

Explanation:

1. to 3. Preparation of the journal entries to record the purchase of the bonds by Wang Communications on January 1, 2021, interest revenue on June 30, 2021 and interest revenue on December 31, 2028

January 1, 2021

Dr Investment in bonds $176 million

Cr Discount in Investment in bonds $24,226,136

($151,773,864-$176 million)

Dr Cash $151,773,864

(To record purchase of bonds)

June 30, 2021

Dr Cash $8,800,000

($176 million*10%/2)

Dr Discount in Investment in bonds $897,538

($24,226,136/30)

Cr Interest Revenue $9,607,538

($8,800,000+$897,538)

(To record Interest Revenue)

December 31, 2028

Dr Cash $8,800,000

($176 million*10%/2)

Dr Discount in Investment in bonds $897,538

($24,226,136/30)

Cr Interest Revenue $9,607,538

($8,800,000+$897,538)

(To record Interest Revenue)

Present value of an ordinary annuity of $1 n=30 I=6%

Present value of an ordinary annuity of $1 =13.76483

Present value of $1 n=30 I=6%

Present value of $1=0.17411

Interest ($176 million *5%*13.76483) $121,130,504

Principal ($176 million*0.17411) $30,643,350

=$151,773,864

5 0
3 years ago
Wee Be Irish produces authentic Irish gifts and clothing. Wee Be Irish uses a good deal of television advertising and sales prom
gregori [183]

Answer:  pull marketing strategy

Explanation: In simple words, pull marketing strategy refers to the strategy in which the producer tries to create demand for the product by using promotional tools. Under this strategy, the firm focus to make customer seek a product unlike push strategy in which the firm focuses on pushing the product to people.

In the given case, WEE be is using TV medium to promote its product hence they are using pull marketing strategy.

3 0
3 years ago
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