Answer:
a. Which country has the absolute advantage in producing dates?
Mali
b. Which country has the absolute advantage in producing grain?
None
c. Which country has the competitive advantage in producing dates?
Mali
d. Which country has the comparative advantage in producing grain?
Ireland
Explanation:
Opportunity cost of producing dates:
Ireland = 10 / 5 = 2 tons of grains
Mali = 10 / 25 = 0.4 tons of grains
Opportunity cost of producing grains:
Ireland = 5 / 10 = 0.5 tons of dates
Mali = 25 / 10 = 2.5 tons of dates
Answer:
Principal
Explanation:
A power of attorney (POA) is a legal document giving one person (the agent or attorney-in-fact) the power to act for another person (the principal).
If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopolist should increase production and lower the price to maximize profits decrease production and increase the price to maximize profits.
<h3>Who is a
monopolist?</h3>
monopolist serves as the entity that dominates a particular market in term of production, he is the one that has the highest control of the market and make the most profits.
It should be noted that If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopolist should increase production and lower the price to maximize profits decrease production .
Learn more about monopolist on:
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Answer:
answer can be seen in the attached file
Explanation:
Consider the game in extensive form above. In the backward induction solution to this game Player 1 plays strategy and Player 2 plays strategy (Please, label Player 1's strategies by A, B, and C, and Player 2's strategies as df, dg, ef, and so forth)
What is Game Theory?
This is a mathematical modelling that deals with the analysis of strategies for dealing with competitive situations where the result of a participant's choice of action depends critically on the actions of other participants. Game theory has been applied to in war, business, and biology, sport.
In Game theory, outcome is dependent on the contributions of competing parties
Answer:
C) No/Yes
Explanation:
An income statement (profit and loss account) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit
Absorption cost is a method of calculating the cost of a product or enterprise by taking into account indirect expenses (overheads) as well as direct costs.
How do you calculate total period cost under absorption costing?
Income statement shows Sales – Cost of Goods sold = Gross Margin (or Gross Profit) – Operating Expenses = Net Income and is based on the number of units SOLD.
