What is is the most important factor in what a nation produces and trades

. If the price elasticity of demand for pineapple is 0.75, a 4% increase in the price of pineapple will lead to a A. 3% decrease

ludmilkaskok [199]

Answer:

A) 3% decrease in the quantity demanded of pineapple.

Explanation:

We know that the demand curve is negative, which means that as price of a product increases, its demand will decrease.

In unitary elasticity(1) the change in demand means that the change in quantity demanded will be the same. A 0.75 elasticity will thus mean that the quantity demanded will change by a factor of 0.75 as compared to the change in price.

Therefore when the price of pineapple increases by 4%, the quantity demanded will decrease by 4 * 0.75 = 3%

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3 years ago

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When the economy is producing the level of output equal to natural Real GDP, the unemployment rate is equal to :A. zero. B. the

VLD [36.1K]

Answer:

B. the natural unemployment rate.

Explanation:

When the level of output is equal to natural real GDP, it indicates that the country has reach a very optimal level of production has efficiently utilize all resources that it has in its disposal. These 'Resources' include both human , capital, and natural resources.

Natural employment rate is the amount of employment rate that occurs after a country has fully utilize its resources. Like mentioned above, This situation will arise when the level of of output equal to natural Real GDP

Since there is little to no human resources left unused which make natural unemployment rate basically equal to the total employment rate that exist in that country.

7 0

3 years ago

Berkshire Inc. uses a periodic inventory system. At the end of 2015, it missed counting some inventory items, resulting in an in

zlopas [31]

Answer:

Assets understated by $510,000, liabilities understated by $153,000 and shareholders' equity understated by $357,000.

Explanation:

An understatement of closing inventory will have the following effects,

First of all the inventory as an asset is understated by $510,000

Second, this inventory was subject to deduction from the Cost of goods sold as, Cost of goods sold = Opening Inventory + Purchases - Closing Inventory.

Since this amount was not subtracted from the CGS, the gross profit and ultimately the Net profits were understated by $510,000.

This will be added in the net profits.

With an increase in net profits, the tax payable amount also increases. This is calculated as 510,000 * 0.30 = $153,000

So total change in profits is = 510,000 - 153,000 = $357,000

While $153,000 is still payable and is recorded as a tax payable liability.

Thus,

Assets understated by $510,000

Liabilities Understated by $153,000 (tax payable)

Share holders equity understated by $357,000 (part of retained profits)

Hope that helps.

6 0

3 years ago

Suppose that a lumberyard has a supply of 10-ft boards, which are cut into 3-ft, 4-ft, and 5-ft boards according to customer dem

Alja [10]

Answer :

Some answers are attached below

Explanation:

a) Based on the information provided, below are the all possible sensible patterns the lumberyard may use to cut the 10-ft boards -

Pattern Number 3-ft boards 4-ft boards 5-ft boards Waste (<3-ft)

1 3 0 0 1

2 2 1 0 0

3 1 0 1 2

4 0 1 1 1

5 0 2 0 2

6 0 0 2 0

b) ILP Formulation

Objective Function

Minimize Number of 10 ft-boards to be cut

Z = x1+x2+x3+x4+x5+x6 where xi is the number of boards for pattern i

subject to constraints -

3x1+2x2+x3>=90 ----> 3-ft boards

x2+x4+2x5>=60 ----->4-ft boards

x3+x4+2x6>=60 ----->5-ft boards

Xi>=0 ---->Non-negativity constraint

Below is the excel solver formulation and solution -

The optimal number of Pattern 1,5,6 =0, Pattern 2,3 and 4 = 30

The minimum number of 10 ft-boards to be cut = 90

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3 years ago

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Bob, an accountant of xyz, drives his own car to the bank to make a deposit for xyz. bob has an at-fault accident. if xyz carrie

densk [106]

<span>The answer is : No coverage for xyx. Bob, an accountant of xyz, drives his own car to the bank to make a deposit for xyz. bob has an at-fault accident. if xyz carries $1,000,000 bodily injury/property damage coverage with a symbol 2 for covered autos, and bob carries no insurance, No coverage is applicable for xyz. </span>

7 0

3 years ago