The correct answer is C,
A good is said to have an inelastic supply if the suppliers did not have any choice than producing it even though the cost of production is high and the buyers did not have any choice than buying it even though it is expensive.
No one can do without shoes, even if they are expensive, we still need to buy them.
Answer:
(a)Total Cost, C=20LW+12LH+12WH
(b)
(c)W=1.88ft, L=5.64 ft and H=4.72 ft.
Explanation:
Given the dimensions of the box to be L,W and H.
(a)
- The material for the top and bottom of the box cost $10 per square foot
- The material used to build the four sides of the box cost $6 per square foot.
- Area of Top and Bottom=2LW
- Cost of Top and bottom=$10 X 2LW=20LW
- Area of four Sides =2(LH+WH)
- Cost of Four Sides =$6*2(LH+WH)=12(LH+WH)
- Total Cost, C=20LW+12LH+12WH
(b)The bottom side has length 3 times its width.
L=3W
Volume of the box=50 cubic feet.
Substituting L=3W and 
into the cost function C.
C=20LW+12LH+12WH
(c)The minimum cost occurs at the point where the derivative of the cost function equals zero.
Recall:
The dimensions of the box that minimize the cost are W=1.88ft, L=5.64 ft and H=4.72 ft.
Cost of the box at these dimension
Answer:
A. Owners equity
Explanation:
In a balance sheet, the accounting equation reflects a scenario in which assets are equal to liabilities including owners equity. This is premised on the principle of double entry which is the foundation of accounting.
Owners equity is the amount owned by the business owner or his investment in the business less drawings.eg retained earnings,profits, etc.
The reason for accounting equation is to show that the balance sheet tallies such that items on the debit matches items on the credit
When a firm prepares financial reports by using absorption costing, <span>profits may decrease with increased sales even if there is no change in selling prices and costs. When you absorb costs that means all of the manufacturing costs are absurd by the units produced. The final cost of the inventory will include direct matters, labor and both variable and fixed overhead to product the units. </span>
Deficit and our failure to budget and work together as a nation to agree on compromise
