Answer:
Mikhail's gains 10 carpets and 10 quilts from the trade. Dominique's also gains 10 carpets and 10 quilts from the trade.
Step-by-step Explanation:
Step 1: Capacity
Mikhail's can make 160 carpets or 160 quilts per month.
Dominique's can make 120 carpets or 200 quilts per month.
Step 2: Before Trade
Mikhail's makes 80 carpets and 80 quilts per month.
Dominique's makes 60 carpets and 100 quilts per month.
Step 3: After Trade:
Mikhail's makes 160 carpets per month.
Dominique's makes 200 quilts per month.
Trade = 70 carpets for 90 quilts.
Mikhail's now has 160 - 70 = 90 carpets and 90 quilts.
Dominique's now has 70 carpets and 200 - 90 = 110 quilts
Step 4: Gains from Trade:
Mikhail's gains 90 - 80 = 10 carpets and 90 - 80 = 10 quilts from trade.
Dominique's gains 70 - 60 = 10 carpets and 110 - 100 = 10 quilts from trade.
Answer:
The correct answer is option A.
Explanation:
The average cost of production for a bottle of vitamin water in the industry is $4 while its average price is $7.
StoreAll Inc. manufactures the same product for $3 per bottle and sells it for $7 per bottle.
The store Inc manufacturers is able to produce at a lower cost than the other firms. This implies that it has a competitive advantage in the production of mineral water.
Competitive advantage refers to the conditions that help a firm outperform its competitors.
Answer:
a) consumer
$5
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Willingness to pay is the highest amount a consumer would be willing to pay for a product. The willingness to pay in this question is $30.
The price of the goods is $35 but Alice would pay ($35 - $10) = $25
The consumer surplus is $30 - $25 = $5
Producer surplus is the difference between the price of a product and the lowest price a supplier would be willing to sell his product.
I hope my answer helps you.
An increase in cash would definitely placed in debit because it considered an asset and we need to place the increase of sales on the credit side.
So, in this case, the entry would be
Cash $ 30,250
Sales $ 30.250
Answer:
c. Emphasis on ethics
Explanation:
Sean has been tasked with developing a ethical mission statement with a view of reassuring customers on predatory lending practices.
This is a renewed emphasis on the ethics of the company and by so doing it will reassure the company is aware of the ethical practice in this regard and that they are pledging to act ethically.
Ethics is defined as the process of systemising and recommending concepts of right and wrong. It is also called moral philosophy.
