Answer:
The question is incomplete; Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon.
Marcus' consumer surplus= $45-$35= $10
Starling's consumer surplus= $80-60= $20
Marcus' producer surplus = $60-35 = $25
Explanation:
Answer:
False
Explanation:
Revenue tariff means increasing earnings. It will raise government revenue instead of protecting domestic ventures. It is a direct income in the form of tax to obtain from corporate revenues.
On the other hand, protective tariffs are designed to protect domestic producers. It protects local manufacturers by imposing a heavy duty on imported products, which enables the products to become less attractive. Therefore, the aim is to reduce imports.
Answer:
1. C. c. material, machinery/equipment, manpower, and methods.
2. E. All are correct
Explanation:
1. The cause-and-effect diagram also known as the Ishikawa diagram is used by organizations to find out the likely causes of unwanted problems. This diagram traces the roots of problems and helps managers discover the potential causes of these problems. The four M's that form the bone of the diagram to which other causes are traced include the;
a. material, which is about the products used in the production process and potential problems that can be attributed to them.
b. machinery/equipment, which is about the plant and likely problems that can arise from their use.
c. manpower, which is about the personnel used in the production process, and,
d. methods, which is about the systems adopted by the organization.
2. A systematic approach to capacity decisions include;
a. Estimation of capacity requirements
b. Identification of gaps by comparing the expected requirements with available capacity.
c. Develop alternative plans and methods that would help to reduce the gaps.
d. Evaluate the alternatives taking into consideration their qualitative and quantitative attributes.
Carpentry has apprenticeship programs.
Answer:
GDP [Expenditure Approach] is $7,040, Depreciation is $920
Explanation:
The formula for calculating GDP [Expenditure Approach] is Consumption expenditure + Investment + Government expenditure + Exports − Imports
Mathematically,
Y = C + I + G + (X − M)
Where C = $7,000, I = $160, G = $180, (X-M) = -$300
Y = 7000 + 160 + 180 - 300 = $7,040
GDP [Expenditure Approach] is $7,040
Depreciation = GDP - NDP
NDP = wages + profits + interest + rent + net factor income of unincorporated businesses
Where wages = $5,900, profits + interest + rent = $220, net factor income from abroad = $0
NDP = 5900 + 220 + 0 = $6,120
Applying Depreciation = GDP - NDP, we have:
Depreciation = 7040 - 6120 = $920
N.B: The depreciation is a measure of the statistical discrepancy between the GDP and NDP
