Answer:
The correct answer is ii. The unemployment rate will rise in the short run but return to the natural rate of unemployment in the long run, and real GDP will drop below potential GDP in the short run but return to potential GDP in the long run.
Explanation:
The economic recession occurs when there is a decrease in economic activity within a specific country. If shock actions are not taken, the most likely thing that happens is that companies stop hiring staff because they will require much less labor. This situation is explained in Okun's law, which mathematically demonstrates the relationship between the unemployment rate and economic growth.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Sales= 590 units
Selling price= $120
Unitary variable cost= 120*0.6= $72
Fixed costs= $21,312
<u>First, we need to calculate the total contribution margin:</u>
Total contribution margin= 590*(120 - 72)
Total contribution margin= $28,320
<u>Now, the contribution margin per unit:</u>
Unitary contribution margin= 120 - 72= $48
<u>Finally, the contribution margin ratio: </u>
contribution margin ratio= contribution margin / selling price
contribution margin ratio= 48/120
contribution margin ratio= 0.4
Answer:
a. an express warranty.
Explanation:
An express warranty -
It is the insurity given by the seller in order to give the replacement or repairs for any of the faulty product or services , within a particular time frame after purchasing the product , is known as an express warranty .
It helps to make sure about the product the buyer have purchased and for any repairs in the future .
Hence , from the question , the example shown is about an express warranty .
Before work is done there should be preparations, during workflow analysis, an organization's planners need to analyze what work needs to be done.
<h3>What is workflow?</h3>
Workflows describe how a particular task or job is done. It includes some sequence of tasks from start to finish, how and what exactly should be done at each step.
Therefore, during workflow analysis, an organization's planners need to analyze what work needs to be done.
Learn more on workflow from
brainly.com/question/24922293
Answer:
(a) 0.667 (b) The Lerner index helps in estimating of the market power of a firm. it measures the percentage markup that a firm is able to charge.
The conditions where this market power last in the long-run are; the pricing power, Factor mobility, Barrier to entry or exist.
Explanation:
Solution
Given that:
(A) The Lerner index is computed below:
Lerner index = (P-MC)/P
Thus,
($15-$5.00)/$15
=10/15
= 0.667
(B) The Lerner index assist in measuring of the market power of a firm. it measures the percentage markup that a firm is able to charge.
Index spans from a low value (0) to a higher value of (1)
When a firm has a higher value of index, it is able to charge over it;s marginal cost and thus has a greater monopoly power
Other conditions where market power last in the long run is as follows:
- The pricing power
- Factor mobility
- Barrier to entry or exist
