Answer:
both Sue and Tessa gain 0.3; 0.50
Explanation:
Sue's production possibilities frontier:
Sue's opportunity cost:
- opportunity cost of producing caps = 21 / 70 = 0.3 jackets
- opportunity cost of producing jackets = 70/21 = 3.33 caps
Tessa's production possibilities frontier:
Tessa's opportunity cost:
- opportunity cost of producing caps = 25 / 50 = 0.5 jackets
- opportunity cost of producing jackets = 50/25 = 2 caps
Sue should produce caps and Tessa jackets:
total production = 70 caps (Sue) + 25 jackets (Tessa), if they trade they will both win because each specialized in producing the good in which they have a comparative advantage (lower opportunity costs). If Sue traded and received 21 jackets, she would still have 28 caps left. If Tessa traded and received 50 caps, she would still have 10 jackets left.
Answer:
C) The chronological context
Explanation:
Chronological context refers to time related factors that affects affects communication. The effect could be favourable or unfavourable.
In this scenario because Andy had worked for a long time and he feels he is hard working, he feels he deserves a pay raise.
His need for a pay raise is time based. It is initiated by his length of service in the company. So this is a chronological context in which a time based factor affects communication between Andy and Anna.
Answer:
Range
Explanation:
Range is the term which is used to describe the maximum distance which the consumers or customers are prepared or willing to travel in order to acquire the goods or to use a service.
It is because at some point, the expense or the inconvenience which will outweigh the requirement of the good.
And there are two types of range, one is small rage and other is large range.
Small range is the range which the people are willing to go only a distance which is short for the everyday consumers services like the pharmacies, grocery. While the large range is the range which will people travel the longer distances for the other services like ball game.
Answer:
The correct answer is letter "A": in both statements I and II.
Explanation:
(I) According to the demand law, <em>if the price of tea increases the quantity demanded of tea will decrease</em>. If the price of tea decreases, the quantity demanded of tea will increase. Quantity demanded and the price has an inversely proportional relationship in the demand law.
(II) When talking about complementary goods like tea and sugar, <em>if the price of tea increases will result in a negative movement along the demand curve of tea and will cause the demand curve of sugar to move inwards. In such a scenario, the demand for each good will be reduced.</em>
Answer: $5,610,000
Explanation:
Earnings before Interest and tax = $10,000,000
Earnings before tax (EBT) = EBIT - Interest
= 10,000,000 - 1,500,000
= $8,500,000
EBT is in the $335,000-$10,000,000 range.
Tax is therefore = Tax on base of bracket + Percentage on Excess above Base (EBT - Base of bracket)
= 113,900 + 34%( 8,500,000 - 335,000)
= $2,890,000
Net Income = EBT - Tax
= 8,500,000 - 2,890,000
= $5,610,000
