Answer:
As the price of beef increases, consumption <u>DECREASES</u>, which means that for the demand of beef, there is an <u>INVERSE</u> relationship between price and consumption.
Explanation:
One of the basic principles in economics is the Law of Supply and Demand. As the price of a good increases, suppliers will increase the total quantity supplied, but the consumers will decrease the total quantity demanded, until an equilibrium point is reached.
The supply and demand law applies to basically every product or service available in the market.
Answer:
Total manufacturing costs added to production $186,000
Explanation:
The computation of the total manufacturing cost to be added is given below:
Raw materials,beginning $27,000
Add: Purchases of direct materials $36,000
Less: Raw materials,ending -$21,000
Direct materials used $42,000
Direct labor $60,000
Factory overhead costs $84,000
Total manufacturing costs added to production $186,000
Answer:
0.2925
Explanation:
Total variance = Systematic variance + Residual variance
= (β^2)Var(rM) + Var(e)
Where beta β= 1.80 and
residual standard deviation σ(e) = 0.35,
variance = (1.80^2)×0.25^2 + 0.3^2= .
=3.24 × 0.0625 + 0.09
= 0.2925
Answer:
The worth of the investment after 20 years = $40,995.5
Explanation:
<em>The equal annual deposit can be worked out using the future value of an ordinary annuity formula. </em>
<em>The worth of the investment after 20 years can be worked out using the future value of an ordinary annuity.</em>
<em>An an annuity is a series of equal cash flows receivable or payable for certain number years.
</em>
Future Value of an ordinary annuity (FVOA). The represents the total sum of that would accrue where a series of annual cash flow (each occurring at the end of the year) is compounded at a particular rate. It can be determined as:
FV= A × ( (1+r)^n - 1)/r).
FV- Future value
A- annual cash flow
R- rate of interest
n-number of years
FV - ?
A- 100
r- 7%
n- 20
FV = 1,000× (1.07^20 - 1)/0.07 = 40,995.5
The worth of the investment after 20 years = $40,995.5
