Based on the discount offered and the cost of advertising, your budget variance is <u>$500 </u>and it is a <u>surplus</u>.
<h3>How much do you spend on advertising?</h3>
You need to advertise for 6 months which means that you will pay for two three-month advertising seasons.
The first season will cost $2,000 because of the discount and the second season will cost $2,500. Total cost is:
= 2,000 + 2,500
= $4,500
<h3>What is the Budget surplus?</h3>
= Budget - Amount spent
= 5,000 - 4,500
= $500
Find out more on budget variance at brainly.com/question/25625268.
Answer:
<u>an increase in the price of oranges.</u>
Explanation:
The price of oranges increased because there was an event that influenced the balance of demand and supply. The Florida freeze that devastated the orange crop was an event that affected supply, so as there was greater demand for an orange good, and lower supply for orange, there was an imbalance in the supply and demand curve that caused an increase in supply. price because demand is greater than supply.
Answer: Rate of economic growth = 28%
Explanation:
In year 1,
Work hours in New Zombie = 300
Productivity = $10 per hour worked
Real GDP in the given year = Productivity × Work hours
= $10 × 300
= $3,000
In year 2,
Work hours in New Zombie = 320
Productivity = $12 per hour worked
Real GDP in the given year = Productivity × Work hours
= $12 × 320
= $3,840
Rate of economic growth = 
= 
= 28%
Answer:
Normative
Positive
Normative
Positive
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, the statement , In some circumstances, if taxes are lowered,
government revenues actually increase, can be tested and it has it basis in economic theory
Normative economics is based value judgements, opinions and perspectives. For example, the statement - taxes are too high - is based on opinion. To some it is too high while to others it would be too low
Answer:
i) personal economic policies ii) marginal cost versus marginal benefit analysis
Explanation:
Marginal costs and benefits are an integral part of the economy as they help to calculate costs and benefits accurately at a particular production stage and usage stage.
An economic policy is an act that aims at influencing or controlling economic behavior.
At this stage John believes his decision will influence his economy positively and he sees more long-term benefits than costs for him if he plays professional sports rather than staying in college.
