Answer:
d) will become an importer of tomatoes.
Explanation:
Consumer surplus would increase because the price at which they buy tomatoes would reduce while producer surplus would reduce because the price of tomatoes would reduce as a result of international trade.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.Because the price of tomatoes in the US is greater than the price of tomatoes in the world, when the US begins international trade, it would import tomatoes because it is inefficient in the production of tomatoes.
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
<u>Answer: </u>The EPA is responsible for setting and enforcing regulation related to the environment.
<u>Explanation:</u>
The acronym for EPA is Environmental Protection Agency. This is an independent agency which protects the environment from potential hazards. EPA sets the regulations in the country that protects the environment.The organisations has to follow the regulations to avoid any consequences.
The agency assess the environment and does research on the environment and impact on it. The national environmental standards are maintained by the agency. The agency is entitled to give sanctions and collect fines in the country.
Answer: A. True because everything has happened has many effects for many different behaviors in people’s lives.
Answer: $11.17
Explanation:
Number of phones sold = 30000
Sales price = $15 per unit
We than calculate the total contribution required which will be:
= Total Fixed Cost + profit required
= $65000 + $50000
= $115,000
To calculate the variable cost per unit goes thus:
Number of phones sold = (Total Contribution Required)/(Sale Price - Variable cost per unit)
30000 = 115000/(15 - Variable cost per unit)
(15 - Variable cost per unit) = 115000/30000
(15 - Variable cost per unit) = 3.83
Variable cost per unit = 15 - 3.83 = 11.17
Variable cost per unit = $11.17
Answer & Explanation:
Modiglani's Life cycle Hypothesis depicts spending & consumption pattern of people, in order to stabilise / or smoothen their consumprtion. The theory has following phases :
- Early (Non Working) Age, Low Income stage : Borrowings are done, to cover up for lack of income that yields desirable stable consumption level.
- Youth, Earning (Working) Age : Savings are done, through surplus of income level over desirable stable consumption level.
- Old, Post retirement (Non working age) : Dissavings are done, funds from previous savings are used to cover for lack of income that yields desirable stable consumption level.
Implication rate for entire economy saving rate : It implies that economy's savings rate is high, if more population comprises of middle aged working population.
