Answer: A - nominal wages are slow to adjust to changing economic conditions
Explanation:
In the short run, the costs of many of the factors used in the production process are fixed. For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.
As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.
Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.
Answer:
Part 1
<u>Income Statement at 15,600 units</u>
Sales ($ 180 x 15,600) $2,808,000
Less Variable Costs ($126 x 15,600) ($1,965,600)
Contribution $842,400
Less Fixed Costs ($842,400)
Net Income $0
Part 2
$3,278,000
Explanation:
Break even (units) = Fixed Cost ÷ Contribution per unit
= $ 842,400 ÷ ($ 180 - $126)
= 15,600 units
<u>Assume the company's fixed costs increase by $ 141.000</u>
Break even (units) = Fixed Cost ÷ Contribution per unit
= ($ 842,400 + $ 141.000) ÷ ($ 180 - $126)
= 18,212 units
Break even Revenue = 18,212 x $ 180 = $3,278,000
Answer:
The first part of the question is missing:
"We all learn values from sources such as family, religion, and school. Why might these..."
To be honest, most of the time business decisions are not clean cut ethical or unethical, even if you are not doing anything wrong or illegal. When you are doing business you will try to make the largest possible profit and money doesn't just appear from no where, if you earn money, you will be taking it away from someone else. In the best case scenario, you will be giving that customer a higher perceived value than the cost of your product or service, so everyone wins.
But many times, not everyone wins. E.g. you manage a construction company and you will bid for a project, hopefully you will win and make money, but others will lose. Empathy is good for marketing, but very bad for finances.
When thousands of jobs are replaced not by Chinese workers, but instead by computers and robots, it's just bad luck for the unemployed. When large stores like Sears go bankrupt while Amazon surges, good for Amazon, bad for Sears.
Answer:
The statement is: False.
Explanation:
A life estate comprehends the property that someone owns during a lifetime. The benefit of a life estate is that property will transfer without the need of the beneficiary appearing in the will after the holder is deceased. They cannot put the property on sale until the holder's decease, though. As well, holders cannot do anything at will without consulting their simple-fee owners.
