Answer:
B) inelastic; one less slave
Explanation:
Since in the question it is given that the supply curve in the Sudanese slave trade should be perfectly inelastic and every slave purchased by redeemers that determines that it should be one less slave held in captivity
Therefore in the given case it should be inelastic and one less slave
hence, the correct option is B
Also inelastic means less than one
Answer:
Explanation:
The journal entry is shown below:
Work in Process-Molding A/c Dr $3,000
To Accounts Payable Control $3,000
(Being the purchase and used production is recorded)
The computation of the purchase amount is shown below:
= Number of kgs purchased × price per kg
= 500 kgs × $60
= $3,000
The other information which is given is not considered. Thus, ignored it
Answer:
r = 9.14%
Explanation:
Simple interest = P * (1+rt)
Simple interest = $10,000 * (1+0.10 * 3)
Simple interest = $10,000 * 1.3
Simple interest = $13,000
Calculating the compound interest rate
A = P*(1+r)^n
$13,000 = $10,000 * (1+r)^3
(1+r)^3 = $13,000 / $10,000
r = ![\sqrt[3]{$13,000/ $10,000 - 1}](https://tex.z-dn.net/?f=%5Csqrt%5B3%5D%7B%2413%2C000%2F%20%2410%2C000%20%20-%201%7D)
r = 0.0914
r = 9.14%
