The answer should be 3, -1
Answer:
The cost of producing the article is -3500 (Negative cost)
Step-by-step explanation:
The given parameters are
The ratio of the profit to material cost to production labor = 5:7:13
The amount of the material cost = 840 + Labor cost
Let the total cost = X
Therefore, we have;
The fraction of the total cost that is material cost = 7/(5 + 7 + 13) = 7/25
Therefore, the material cost = 7/25 × X
The fraction of the total cost that is labor cost = 13/(5 + 7 + 13) = 13/25
Therefore, the labor cost = 13/25 × X
However, the amount of the material cost = 840 + Labor cost, which gives;
7/25 × X = 13/25 × X + 840
7/25 × X - 13/25 × X = 840
-6/25 × X= 840
X = 840/(-6/25) = 840×(-25/6) = -3500
The cost of producing the article = -3500.
Jay's claim is false. They would have $156.8 left which is 56% of their original combined total.
Answer:
-2; Inferior good
Step-by-step explanation:
Given that,
Initial Quantity = 10 boxes
New Quantity = 8 boxes
Percentage increase in Sally's income = 10%
Change in consumption:
= 8 boxes - 10 boxes
= - 2 boxes
Percentage change in quantity demanded:
= (Change in quantity demanded ÷ Initial quantity) × 100
= (-2 ÷ 10) × 100
= - 20%
Therefore,
Income elasticity of demand:
= percentage change in quantity demanded ÷ Percentage change in income
= - 20% ÷ 10
= -2
Inferior goods are generally have a negative income elasticity of demand which means that an increase in the income of the consumer will lead to reduce the quantity demanded for inferior good and vice versa.
Hence, the good is a inferior type of good.
Answer:
-125
Step-by-step explanation:
negative one twent five
