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3 years ago

When is output level and supply inelastic? short run or long run

1 answer:

4 0

Output and input levels always tend to an equilibrium point it the long run, meaning they are inelastic in the long run.

Elasticity refers to how much supply and/or demand changes with changes in pricing. The more elastic, the more change there is.

In the short-term, output and and supply can change dramatically, but in the long run things tend back to the middle (equilibrium).

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Russell spends an hour studying instead of playing basketball. Russell’s willingness to study is due to the fact that he... Your

love history [14]

Answer:

c. feels the marginal benefit of an extra hour of studying exceeds the marginal cost of not playing basketball.

Explanation:

Russel made a choice to study for an hour instead of playing basketball. When making choices people weigh the benefits of an action against its opportunity cost.

Opportunity cost is the forgone alternative when we choose to do something.

In this instance Russell chose to study and the opportunity cost was to enjoy playing a basketball game.

For him to choose to study it means he saw the benefit of reading to be greater than the marginal cost of playing basketball. So he chose the most beneficial activity for him.

4 0

3 years ago

Read 2 more answers

What budgeting option is best used only with limited resources and expenses?

4vir4ik [10]

Answer: Mental budgeting.

Explanation: This concept is very much in consistent with the concept of mental accounting. The concept of mental accounting says that a person has already classified the areas where he will be spending his income and each area has its own importance and is given particular amount to that. Contrary to this, however, the mental budgeting is the phenomenon which uses the same technique but in such a way that it calculates the amount to be spend on multiple areas beforehand and using the rational cognitive ability, imagine the possibility that if an area would be left without spending money on that, would that help him save or not.

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2 years ago

Read 2 more answers

Suppose you purchased 500 shares of Jet-Electro Corporation stock at a price of $22.50 per share. One year later, the shares are

viva [34]

Answer:

C) 0.0 percent

Explanation:

The net return on any investment is what we receive from the investment in addition to the purchase price paid.

In the given instance the investor pays $22.50 per share as an investment cost, to acquire such shares. Number of shares purchased = 500

Now at the end of the period the shares are sold for $21 each

Also the dividend per share received is $1.50

Thus, total return = $21 + $1.50 = $22.50 per share.

This is exact same as that of the investment price.

Thus net return = Total benefits - Cost = $22.50 - $22.50 = $0

Since net return is $0 the value of return in percentage shall also be $0.

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3 years ago

Most global firms find it is better to have expatriates rather than local staff at the management positions of their foreign ope

pshichka [43]

Answer:A True most global firms find it is better to have expatriates rather than local staff at management positions to their foreign operations because expatriates require less training and development.

8 0

3 years ago

Fred and Barney started a partnership. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreem

svet-max [94.6K]

Answer:

The amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

Explanation:

For computing the amount of income assigned to the two partners, we have to do the following calculations which are shown below:

1. Dividend amount for each partner:

For Fred = Invested amount × rate of return

= $20,000 × 15%

=$3,000

For Barney = Invested amount × rate of return

= $32,000 × 15%

= $4,800

The total dividend amount equals to

= Fred dividend + barney dividend

= $3,000 + $4,800

= $7,800

2. Now compute the remaining amount, and divide it in the sharing ratio

So, the remaining amount would be

= Partnership income - total dividend amount

= $38,000 - $7,800

= $30,200

So the Fred income would be = $30,200 × 50% = $15,100

And, the barney income would be = $30,200 × 50% = $15,100

So, the amount of income:

For Fred = Dividend income + remaining income

= $3,000 + $15,100

= $18,100

For Barney = Dividend income + remaining income

=$4,800 + $15,100

= $19,900

Hence, the amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

8 0

3 years ago