It is an elastic good and to increase the revenue, the producer should decrease the price of the good.
<u>Explanation:</u>
The good that has a price elasticity of demand with a coefficient of 1.6, the good is said to have elastic demand. For such a good, the producer should decrease the price of that good to increase its revenue. With the decrease in the price, the demand of the good will increase significantly. This will help him increase his revenue.
Answer:
- 1800
- 500
- Spending multiplier =5 , Tax multiplier =4
- new GDP =2000 , Increase GDP level = 11.11%
- new GDP =1800 , Increase in GDP level = 0%
Explanation:
- Equilibrium GDP = C+I+G+net export
C = private consumption
I = investment
G = government consumption
Net export = export - import
800+400+500+100 = 1800
- Saving at GDP = (GDP-T-C) +(T-G)
(1800-400-800)+(400-500) = 500
- SPENDING MULTIPLIER = 1 / 1 - MPC
= 1 / 1 - 0.8 = 5
TAX MULTIPLIER = MPC / 1 - MPC
= 0.8/1-0.8
=0.8 / 0.20 = 4
- New equilibrium GDP = GDP + 200 = 2000
Increase in GDP level = (NEW GDP - OLD GDP / OLD GDP) *100
(2000-1800) / 1800 = 11.11%
- New Equilibrium GDP = C + I+ G + Net export
(800-200) +400 +(500+200) +100 = 1800
Increase in GDP level = (NEW GDP - OLD GDP / OLD GDP) *100
There is no change in GDP.
<span>The
solution would be like this for this specific problem:
12,000 * $18
= $216,000
So the amount that the building should be recorded by the Merritt Company is </span>$216,000. I hope this helps and if you have any further questions, please don’t
hesitate to ask again.
Answer:
C: Certified Residential Real Estate Appraiser, 200 hours
Explanation:
The current Appraisal Qualifications Board (AQB) minimum education criteria for Appraisal Education Hours to obtain Certified Residential Real Estate Appraiser is 200 hours.
The Certified Residential Real Estate Appraiser is allowed to appraise 1-4 residential units no matter transaction value or complexity.
Since the non-complex one-to-four unit residential properties, and non-residential properties with a transaction value up to $250,000 are appraised by Appraiser Jones, this implies that Appraiser Jones is a Certified Residential Real Estate Appraiser who completed 200 hours.
Therefore, the correct option is C: Certified Residential Real Estate Appraiser, 200 hours.
Answer: 1300
Explanation:
From the equation,
Qxs = 200 + 4Px - 3Py - 5Pw
where
Px = price of X = 500
Py = price of y = 250
Pw = price of input w = 30
Putting the figures back into the supply equation, we have:
Qxs = 200 + 4Px - 3Py - 5Pw
= 200 + 4(500) - 3(250) - 150
= 200 + 2000 - 750 -150
Qxs = 1300
