A state bank receives its charter from the state in which it operates.

Why do long-run elasticities of demand differ from short-run elasticities? Long-run elasticities of demand differ from short

Ne4ueva [31]

Answer:

The correct answer is option D.

Explanation:

Long-run elasticities of demand differ from short-run elasticity. In the short period is more inelastic. This is because people take time to adjust their consumption habits. So if the time period people have to adjust to the price change is long, then the demand will be elastic.

Durable goods can be used for a relatively long time. So they will have a less elastic demand.

3 0

3 years ago

Read 2 more answers

Under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive?

bezimeni [28]

Nothing the payments will cease.

Payments:

For the balance of the annuitant's life, a straight or pure life annuity will provide a set sum of income. Regardless of the amount of unpaid principal, this payment will end at death. There are no compensation or refunds made to survivors.

The beneficiary will receive the amount placed into the plan or the cash value, whichever is larger, if the annuitant passes away before the payment term.

Banknotes and coins (cash), deposits, and credit on an account with a financial institution or a comparable entity that can be run using payment instruments are all considered means of payment.

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8 0

1 year ago

Assume that the labor market for retail workers is generally unskilled. If a minimum wage is set in the labor market for retail

bazaltina [42]

Answer:

there will be a surplus of retail workers in this labor market.

Explanation:

In the attached diagram the scenario is illustrated.

When the minimum wage is above the equilibrium wage it means that the minimum wage is above what employees are willing to pay workers. So employees will be less wiling to pay this amount.

There will be a reduction in the number of available slots for workers.

On the other hand workers will receive higher wage than they expected but since the slots for work are now limited there will be a surplus of labour in the market

3 0

3 years ago

Sweet Company’s outstanding stock consists of 1,000 shares of noncumulative 5% preferred stock with a $100 par value and 10,000

frutty [35]

Answer:

preferred stockholders received $15,000 during the first 3 years

$2,000 in the first year
$6,000 in the second year
$7,000 in the third year

common shareholders received $25,000 in dividends during the third year.

Explanation:

preferred stock = 1,000 shares x $100 par value x 5% = $5,000

common stock = 10,000 shares at $10 par value

dividends declared and paid during the first 3 years:

year dividends

1 $2,000

2 $6,000

3 $32,000

preferred stockholders should have received $5,000 per year x 3 years = $15,000. Preferred stockholders must be paid first, and their payment is fixed. If the dividends are not enough to pay the total amount, the remaining amount should be paid next year.

$2,000 in the first year
$6,000 in the second year
$7,000 in the third year

common shareholders received $32,000 - $7,000 = $25,000 in dividends during the third year.

7 0

4 years ago

Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the

Annette [7]

The ending inventories of chemicals for each month are 36,135, 33,825 and 41,456 gallons. Also, the beginning inventory for January is 36,135 gallons.

<h3>The table for planned production.</h3>

In order to calculate the ending inventory of chemicals for the three months, we would create a table for planned production as follows:

<u> January February March___</u>

Units to be produced 43,800 41,000 50,250

<u>Direct materials per unit 5.5 5.5 5.5 ___</u>

Total direct materials 240,900 225,500 276,375

Since the company's policy requires ending inventories of raw materials for each month to be 15% of the next month's production needs, we have:

December = 15/100 × 240,900 = 36,135 gallons.

January = 15/100 × 225,500 = 33,825 gallons.

February = 15/100 × 276,375 = 41,456 gallons.

March = Nil.

Also, the beginning inventory of chemicals for January is given by December's ending inventory of 36,135 gallons.

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<u>Complete Question:</u>

Patrick Inc. makes industrial solvents sold in 5-gallon drum containers. Planned production in units for the first 3 months of the coming year is:

January 43,800

February 41,000

March 50,250

Each drum requires 5.5 gallons of chemicals and one plastic drum container. Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. The cost of one drum is $1.60. Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the beginning inventory of chemicals for January?

8 0

2 years ago