The annual opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges is $9. Read below about the analysis of the annual opportunity cost of a checking
<h3>What is the annual opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges?</h3>
The calculation goes thus;
Annual opportunity cost = Minimum balance × Interest rate
= $300 × 0.03
= $9
Therefore, the correct answer is as given above
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Answer: Option (d) is correct
If consumption increases, the AD curve will shift rightward, which will increase the price level.
Explanation:
If the consumption increases in an economy as a result there is a rightward shift in the aggregate demand curve. This shift in the aggregate demand curve lead to increase in the price level as well as in the output level.
Because there is more demand in the economy which gives an advantage for the producer to charge higher price.
Answer:
Store A = 3.4521
Store B = 2.9589
Store C = 4.4384
Explanation:
Store A charges ADB method
purchase made on 5th first payment on 15th of 100
so from 5th to 15th Average daily balance =300 for 10 days
then from 15th to 4th for remaining 20 days average daily balance = 200
Average Daily Balance = (300*10+200*20)/30
Total finance charge = ADB*(APR*(Days/365))
=300*((0.18)*(10/365))+200*((0.18)*(20/365))
= 1.4795+1.9726=3.4521
Store B
Adjusted Balance Method uses adjusted balance to calculate the charges
Adjusted balance=Starting balance adjusted for credit and debit
Adjusted balance =300-100=200
Financial Charges = 200*(.18*(30/365))=2.9589
Store C
Previous Balance Method the interest is calculated on amount of balance carried from previous billing cycle
Balance Carried = 300
Charges =300*(.18*(30/365))= 4.4384
Answer:
$5400 Favorable
Explanation:
Standard 2 hour at $15 per hour
Standard hours 2 hour per unit * 2900 units = 5800 hours
Total Standard cost = 5800 hours * $15 per hour = $87,000
Actual hours = 5100
Actual cost = $81600 / 5100 hours = $16 per hour
Variance = Standard - Actual
Labor hour Variance Favorable = 700 hours (5800 hours - 5100 hours)
Total Labor variance = $5400 ($87,000 - $81,600)
I believe the answer is: D. a change in the cost of inputs changes how much a producer will supply at a given price
Fertilizer is considered to be an input for the avocado since it is an integral part for the avocado producers to transform raw material (Avocado seeds) into a finished product (full grown avocado), Which mean when the cost of fertilizer is increased, the amount of capital needed before their avocado is ready to sell would also increased.
