Answer:
As a result of the price floor, price would increase. As a result, quantity demanded will decrease and the quantity supplied would increase.
Supply would exceed demand and as a result there would be an excess supply of fish.
As an alternative to the price floor, the government can subsidise the cost of fishing. This would reduce the cost of producing fish
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
When using horizontal differentiation, a firm divides itself into sub units based on function, type of business, or Geographic area
Horizontal differentiation
Is basically concerned with how the firm decides to divide itself into sub units. The decision is typically made on the basis of function, type of business, or geographical area. In many firms, just one of these criteria predominates, but more complex solutions are adopted in others. This is particularly likely in the case of international firms, where the conflicting demands to organize the company around different products (to realize location and experience curve economies) and different national markets (to remain locally responsive) must be reconciled. One solution to this dilemma is to adopt a matrix structure that divides the organization on the basis of both products and national markets.
Functional structure :
A functional structure can work well for a firm that is active in a single line of business and focuses on a single geographic area. But problems can develop once the firm expands into different businesses or geographies.
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Answer: $1,021,382
Explanation:
The Consumer Price index (CPI) is an economic measure that enables us calculate inflation. It checks for a price changes in a group or basket of goods and then averages these price changes to find out how much they may have changed overtime.
A higher CPI means prices have increased.
CPI can then be used to calculate the potential values of goods in different years using another year as a base. This means that prices of goods in one year can be written in terms of prices in another year.
This can be done by Dividing the CPI in the current year by the CPI in the base year (year being expressed in terms of) and then multiplying the result by the price of the good in question.
In this case the good is the salary of $75,000.
The 2007 equivalent of a 1931 salary will therefore be,
= 75,000 * ( 207/15.2)
= $1,021,381.57
= $1,021,382
Answer:
Thomas capital
Equipment $30,000
Inventory 25,000
Cash <u> 45,000</u>
Total <u> 100,000</u>
Explanation:
Equipment : thebook value is $25,000 while the market value is $30,000. the market value of the equipment will be used.
Inventory : the book value is $50,000 while the market value is $25,000. As a result of obsolescence, the inventory will be value at lower of cost and net realizable value(IAS2). therefore, $25,000 will be recognized for the inventory in the determination of Thomas capital
Cash: there is no changes in cash contributed.
Answer:
1) 2 minutes
2) 7 minutes
3) Zero ( 0 ) minutes
4) yes
5) zero ( 0 ) minutes
Explanation:
1) Time required to serve
= 2 minutes
2) The operator will begin processing the fourth customer at 7 minutes
3) The fifth customer will wait in line for zero ( 0 ) minutes
4) Yes the sixth customer will get served right away
5) The average waiting time for the 6 simulated customers is Zero ( 0 )
Attached below is the simulation of the six arrivals
