All categories

3 years ago

Accounting professors earn more than English professors at most universities. Explain this with a supply and demand graph.

Business

1 answer:

GenaCL600 [577]3 years ago

3 0

I will assume here (since I don't have more information) that each school needs one English and one Accounting professor, but that more people are ready to teach English than accounting (this assumption might be wrong, but it's what think)

therefore the supply is bigger for the English professors than for the Accounting professors -this means that the accounting professors can ask for bigger salary (the bigger the supply, the smaller the prize)

You might be interested in

There's a large number of bakeries in the United States and each of these bakeries produces similar, but not identical, products

kobusy [5.1K]

Answer:

monopolistic competition

Explanation:

Monopolistic competition -

It refers to a type of competition , where the some sellers sell similar products but exactly the same , is referred to as monopolistic competition .

The goods and services are not exactly the copy of each other , rather are just similar in nature , with similar components .

Hence , from the given scenario of the question ,

The correct answer is monopolistic competition .

8 0

3 years ago

On October 1, 2009, the Nintendo Wii's Japanese price dropped from ¥25,000 to ¥20,000. In the three months after the price drop,

kykrilka [37]

Answer:

B) 0.7; inelastic

Explanation:

The computation of the absolute value of the price elasticity of demand is shown below:

Elasticity is

= [(Sales - prior sales) ÷ ( Sales + prior sales) ÷ 2] ÷ [(price - dropped price) ÷ (price - dropped price) ÷ 2

= [(1,040,000 - 890,000) ÷ (1,040,000 + 890,000) ÷ 2] ÷ [(25,000 - 20,000) ÷ (25,000 + 20,000) ÷ 2]

= (150,000 ÷ 965,000) ÷ (5,000 ÷ 22,500)

= 0.15 ÷ 0.22

= 0.7

It is less than one so the demand is inelastic

4 0

3 years ago

Marginal cost-benefit analysis and the goal of the firm Ken Allen, capital budgeting analyst for Bally Gears, Inc., has been

True [87]

Answer:

1) The marginal (added) benefits of the proposed new robotics.

560,000 - 400,000 = 160,000

2) The marginal (added) cost of the proposed new robotics.

220,000 - 70,000 = 150,000

3) The net benefit of the proposed new robotics.

160,000 - 150,000 = 10,000

4) What should Ken recommend that the company do? Why?

Replace the existing robotics because the net profit is positive

5) What factors besides the costs and benefits should be considered before the final decision is made?

A. Whether there will be additional training necessary with the new robotics.

B. Whether even better robotics may be available in a short while.

C. What will be the energy consumption of the new robotics.

5 0

3 years ago

The major parts of the Stockholders' Equity section of the balance sheet are

torisob [31]

The correct answer is choice D.

The Stockholders’ Equity section of the balance sheet includes stock, paid-iin capital and retained earnings.

5 0

3 years ago

Nutrimax Corp., a breakfast cereal company, has designed extensive and elaborate advertising campaigns for its existing products

Effectus [21]

Answer:

a. Market penetration

Explanation:

Market penetration strategy is a product promotion approach through which a company seeks to gain a greater share in markets it already operates. The strategy is used to increase sales volumes in existing markets.

Market penetration applies where similar goods and services exist. A company uses the low-price technique or present its products as superior as compared to those of its rivals. The objective is to draw customers' attention to the company's products. Advertising using special features and benefits presents the products as unique and superior, thereby attracting customers' attention.

8 0

3 years ago