Scarcity exists because people's wants for goods and services are greater than the number of products that can be made from available resources
Answer:
The correct answer to the following question will be Option B (design competition).
Explanation:
- Design competition seems to be a platform that allows participants to overcome a problem domain as well as compete against someone else, mostly their colleagues, to obtain an honor or perhaps a construction project.
- In comparison to the greatest design, arts as well as architecture blogs around the world, A' Design Recognition and Competition distributes every information throughout the design internet networks.
Some other available options have no connection with the given scenario. So choice B seems to be the right answer to that.
Answer:
r = 5%
Explanation:
Construction cost 800.000
# of barrels produced 10.000
Price per barrel $4
let the interest rate = r
Equate the net present value = 0
800000 = 10000 x 4/(1 + r) + 40000/(1 + r)2 + .......
800000 = 10000 x 4/r
r = 5%
Answer:
5 tons of salt for 1 ton of pepper
10 tons of salt for 1 ton of pepper
Explanation:
Alphaland's opportunity cost of producing one ton of pepper = 80 ÷ 5
= 16 tons of salt
Betaton's opportunity cost of producing one ton of pepper = 3 ÷ 1
= 3 tons of salt
Alphaland's opportunity cost of producing one ton of salt = 5 ÷ 80
= 0.0625 tons of pepper
Betaton's opportunity cost of producing one ton of salt = 1 ÷ 3
= 0.3333 tons of pepper
Therefore, Betaton has a comparative advantage in producing pepper because it has the lower opportunity cost of producing pepper as compared to Alphaland. On the other hand, Alphaland has a comparative advantage in producing salt because it has the lower opportunity cost of producing salt as compared to Betaton.
Hence, Betaton is specialized in the production of pepper and Alphaland is specialized in the production of salt.
Trade is beneficial for both the nations when Alphaland buys pepper at a price lower than the 16 tons of salt and Betaton sells pepper at a price greater than 3 tons of salt.
Trade ratios:
5 tons of salt for 1 ton of pepper
10 tons of salt for 1 ton of pepper
Answer:
$1,320.19
Explanation:
Loan amount = $225,000
Rate = 5.80%
Years = 30
PMT = ?
Initial payment = PMT(Rate/12, Years*12, -225,000)
Initial payment = PMT(5.80%/12, 360, -225,000)
Initial payment = 1320.185230439806
Initial payment = $1,320.19
Therefore, the initial payment on the loan is $1,320.19
