Suppose the civilian noninstitutionalized working-age population is 35.9 million in in a hypothetical economy. Of these, 4.9 mil
1 answer:
Answer:
Total no. of people employed:
= No. of people working part-time + No. of people working full time
= 4.9 million + 14.53 million
= 19.43 million
Total no. of people unemployed:
= People in the working age population who are not working and have looked for work in the past four weeks
= 2.90 + 1.72 million
= 4.62 million
Labor force = Total no. of people employed + Total no. of people unemployed
= 19.43 million + 4.62 million
= 24.05 million
Labor force participation rate:
= 0.6699
= 66.99%
Unemployment rate:
= 0.1920
= 19.20%
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Answer:
1) Colt Carriage Company
Income Statement
For the month ended April 202x
Revenues:
- Adults passengers $186,300
- Children $81,000
- Total revenues $267,300
Variable costs:
- City fees $26,730
- Souvenirs $7,425
- Brokerage fees $11,340
- Carriage drivers $52,650
- Total variable costs <u>$98,145</u>
Contribution margin $169,155
Period costs:
- Depreciation $2,900
- Horse leases $48,000
- Marketing expenses $7,350
- Payroll expenses $7,600
- Total period costs <u>$65,850</u>
Operating profit $103,305
2) If the total amount of passengers increase by 10%, then all variable costs will increase by 10% except brokerage fees which would increase only by 6%. Revenues should also increase by 10%. Period costs should not change.
Contribution margin should increase by 10.29% and operating profit would increase by 16.81%.
Explanation:
since the information is not complete, I looked it up:
Revenues
13,500 passengers:
8,100 x $23 = $186,300
5,400 x $15 = $81,000
total $267,300
variable costs:
fees paid to the city 10% of total revenue
souvenirs $0.55 per passenger
brokerage fees 60% of total tickets x $1.40
carriage drivers $3.90 per passenger
fixed costs:
depreciation $2,900
horse leases $48,000
marketing expenses $7,350
payroll expenses $7,600
