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Effectus [21]
3 years ago
5

Ana is a stay-at-home parent who lives in Dallas and provides math tutoring for extra cash. At a wage of $25 per hour, she is wi

lling to tutor 4 hours per week. At $40 per hour, she is willing to tutor 10 hours per week. Using the midpoint method, the elasticity of Beth's labor supply between the wages of $25 and $40 per hour is approximately (______ ), which means that Beth's supply of labor over this wage range is (_____ ).
Business
2 answers:
fiasKO [112]3 years ago
8 0

Answer:

1.86 and elastic

Explanation:

The computation of the price elasticity of supply using the mid point method is shown below:

= (change in quantity supplied ÷ average of quantity supplied) ÷ (percentage change in price ÷ average of price)  

where,  

Change in quantity supplied is

= Q2 - Q1

= 10 - 4

= 6

And, average of quantity supplied is

= (10 + 4) ÷ 2

= 7

Change in price would be

= P2 - P1

= $40 - $25

= $15

And, average of price would be

= ($40 + $25) ÷ 2

= 32.5

So, after solving this, the price elasticity of supply is 1.86

Since the price elasticity is more than one so it is a elastic

mote1985 [20]3 years ago
4 0

Answer:

Beth's Elasticity of Supply (Midpoint Method) : 10.11 ; Supply : Highly Elastic

Explanation:

By Midpoint method , Elasticity of supply formula is :-

<u>[ Q2 - Q1 ] / [ (Q2 + Q1)/2 ]</u>

[ P2 - P1] / [ (P2 + P1) / 2 ]

Putting the given following values in the formula ; we get :-

P1 = 25 ; P2 = 40 ; Q1 = 4 ; Q2 = 10

<u>[ 40 + 25 ] / [ (40 - 25) / 2] </u>

[ 10 - 4 ] / [ (10 + 4) / 2 ]

<u>65 / 7.5 </u>

6 / 7

8.6 / 0.85

= 10.11

Beth's Elasticity of supply is much higher than one ; So his supply is Highly Elastic.  

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Berry Co. purchases a patent on January 1, 2021, for $33,000 and the patent has an expected useful life of five years with no re
Ghella [55]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Berry Co. purchases a patent on January 1, 2021, for $33,000 and the patent has an expected useful life of five years with no residual value.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= 33,000/5= $6,600

4 0
3 years ago
Fran wants to hire a diverse group of capable people to work at her brand new fitness studios. Unfortunately, many of the applic
Strike441 [17]

Answer:

use a combination of tests measuring both cognitive abilities and non-cognitive traits such as emotional intelligence and personality

Explanation:

In the given scenario many of the applicants Fran perceives as having good emotional intelligence and agreeable personalities (a plus for a fitness studio), do not score well on the cognitive ability test.

Since she wants people that have non-cognitive traits such as emotional intelligence and personality, and also good cognitive abilities.

She will need to use a combination of tests measuring both cognitive abilities and non-cognitive.

8 0
3 years ago
Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $
vodka [1.7K]

Answer:

10.38%

Explanation:

The formula to compute the effective annual rate of the loan is shown below:

= (1 + nominal interest rate ÷ periods)^ number of period - 1

The nominal interest rate is shown below:

= $250 × 4 ÷ $10,000

= $1,000 ÷ $10,000

= 0.1

Now the effective annual rate is

= (1 + 0.1 ÷ 4)^4 - 1

= (1 + 0.025)^4 - 1

= 1.025^4 - 1

= 10.38%

Since the interest rate is measured on a quarterly basis, we know there are four quarters in a year and we do the same in the calculation part.

This is the answer but the same is not provided in the given options

4 0
4 years ago
A__________produces finished-goods inventory in advance of customer demand using a forecast of sales.
Korolek [52]

Answer:

Push system.

Explanation:

A push system produces finished-goods inventory in advance of customer demand using a forecast of sales and as such it is categorized as a make to stock because the production of goods are not based on actual demand by the consumers.

Under a push system, manufacturing is strictly based on a projected production plan and the flow of information between the manufacturer and the market is in the same direction with those of raw materials used.

5 0
3 years ago
To obtain a change of the zoning for a particular property, for example, from residential to commercial, a property owner would
FrozenT [24]

Answer: Zoning Map Amendment?

Explanation:

Zoning Map Amendment is an official document showing that there is a change in the way the land or property is divided into zones within a district and also the way it is being used either for industrial, residential or business purpose.

It is also known as Rezoning, this process can only begin if requested by town council, town manager or the owner of the property, this is done through application which has to be submitted 30days ahead to the committee meeting.

7 0
4 years ago
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