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3 years ago

Why do police officers get paid less than professional baseball players?

1 answer:

7 0

This comes down to a little economic theory called supply and demand the idea is that if there is a lot of something in the supply is greater than the demand in the price will be low for police officers there are more than enough people is smart enough and fit in rk for that kind of money so the pay and benefits out for police officers tends to drop until the people you want pay rises until you reach a point where you can just barely keep in recruit the officers you need baseball players bass players are premium level athletes at this level there is always a shortage of the very best players so you have to pay enough to attract the best and keep them all MLAB players are by definition very best and they would be in the minors otherwise so they can command big money and even bigger salaries are available for the stars of the game!

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To an economist, an increase in demand means the same thing as an increase in quantity demanded.

Morgarella [4.7K]

<span>This is false. An increase in demand is more major than an increase in quantity demanded. Quantity demand refers to the demand of a product at a particular price and is only a movement on the demand curve. An increase in demand would cause the demand curve to shift which is more major than a movement and it encompasses the entire relationship between price and demand.</span>

7 0

3 years ago

Taylor Company has current sales of 1,000 units, which generates sales revenue of $190,000, variable costs of $76,000 and fixed

Leya [2.2K]

Answer:

The change in net operating income after the changes by $14,200

Explanation:

For computing the change in net operating income, first, we have to compute the contribution per unit which is shown below:

Contribution per unit = Selling per unit - variable cost per unit

= $190 per unit - $76 per unit

= $114 per unit

where,

The selling per unit = (Sales revenue ÷ number of units)

= ($190,000 ÷ 1,000 units)

= $190 per unit

The variable cost per unit = (variable cost ÷ number of units)

= ($76,000 ÷ 1,000 units)

= $76 per unit

Now the change in operating income equals to

= (increased sales units × contribution per unit) - advertising cost

= (300 units × $114 per unit) - $20,000

= $34,200 -$20,000

= $14,200 increase

7 0

3 years ago

You just took out a $12,000 loan for your small business. the loan has a four year term and repayment is in the form of four eq

umka2103 [35]

Answer: $403.20

Explanation:

We use a mortgage calculator to calculate the interest paid in the final payment. Since each repayment is made at the end of year, the repayments are annual payments. So, the calculator should have an annual amortization schedule to solve the problem.

I used http://www.calculator.net/loan-calculator for the calculation because it has an annual payment schedule. Then, I went under the subtitle Paying Back a Fixed Amount Periodically because the payments are equal. In that online calculator, I just input these data:

- Loan Amount: $12,000
- Loan Term: 4 (Loan term is number of years to pay the loan)
- Interest Rate: 11.5%
- Compound: Annually (APY)
- Pay Back: Every year

Then, I clicked the calculate button and view amortization table. The annual amortization schedule is attached in this answer.

To determine the interest paid at the final payment, I looked at payment #4 because the final payment is at the 4th year. (The loan is paid in 4 annual payments).

As seen in the attached image, the interest paid in payment #4 is $403.20. Hence, the interest paid in the final payment is $403.20.

3 0

3 years ago

If supply is price-inelastic and demand is price-elastic, then the firm can earn positive profits by increasing the price.

strojnjashka [21]

I think it might be true in my opinion

8 0

3 years ago

A bowling alley charges each person $2 to rent shoes and $3 per game. Which function represents The rate of change of the functi

scZoUnD [109]

Answer:

The function is, y = 2 + 3x

The rate of change of the function is 3.

The y-intercept of the function is 2.

Explanation:

Given,

For each person,

The cost of renting shoes = $ 2,

Additional cost per game = $ 3,

Thus, the total charges for x games, ( say y ) = rent + additional cost for x games

⇒ y = 2 + 3x

Which is the required function,

∵ y = 2 + 3x is a line,

We know that,

The rate of change for a line y = mx + c is m.

Thus, the rate of change of the function is 3.

Now, for y-intercept,

x = 0,

y = 2 + 3(0) = 2

So, y-intercept of the function is 2.

6 0

3 years ago