Answer:
Export
True
False
True
Explanation:
Free trade is a form of trade policy where there are no restrictions to imports or exports of goods and services.
The price of meekers is $30 in Meekertown and $40 In the world. Because meeker's are cheaper in Meekertown, it means that Meekertown is efficient in the production of meekers. As a result, they would export meekers to the rest of the world. It would be cost efficient for the rest of the world to import from Meekertown.
Consumers in Meekertown are worse of because of the trade because the price of Meekers would rise.
Producers are better off because they would earn more profits from the sale of Meekers at the world price.
Free trade increases total surplus because of efficient production. If a country is inefficient in production, it would import . This would increase consumer surplus and if it is efficient in production, it would export increasing producer surplus.
I hope my answer helps you
Commuting - Traveling to get to work
Telecommutting - A form of flexplace...
Flextime - Flexibility in when you work
Flexplace - Flexibility in where you work
Answer:
The total surplus from Andrew's sale to Nick is $35.
Explanation:
The total surplus is the sum of producer surplus and consumer surplus.
The consumer surplus is the difference between the maximum price a consumer is willing to pay for a product and the price he/she actually has to pay.
While producer surplus is the difference between the minimum price a producer is willing to accept for a product and the price he/she actually gets.
Consumer surplus for Nick
= $80 - $60
= $20
Producer surplus for Andrew
= $60 - $45
= $15
Total surplus from generated from Andrew's sale to Nick
= $20 + $15
= $35
Answer:
Annual depreciation= $2,700
Explanation:
Giving the following information:
Morgan Co. purchased a truck that cost $32,000. The truck had an expected useful life of 10 years and a $5,000 salvage value.
The straight-line depreciation method provides an annual depreciation expense by dividing the book value by the number of useful years.
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (32,000 - 5,000)/10= $2,700
