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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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As used in the text, the term environment means all the forces influencing the life and development of the firm.
castortr0y [4]

This statement is False.

What is Lifecycle of business ?

A product's life cycle is the series of events that start when it is first created, follow it as it develops into a mature product, reaches critical mass, and then begins to decrease. A product's life cycle typically includes the following stages: product creation, market launch, growth, maturity, and decline/stability.

  • In business, a product's life cycle tracks its development, maturation, and decline.
  • The business, economic, and inventory cycles are other business cycle categories that have a life cycle-like trajectory.
  • In the early stages of product development, seed money is frequently used.
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To know more lifecycle of business

brainly.com/question/26300541

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6 0
2 years ago
Desired consumption is Cd = 100 + 0.8Y - 500r - 0.5G, and desired investment is Id = 100 - 500r. Real money demand is Md/P = Y -
allochka39001 [22]

Answer:

Under a) r=0.1;Id=50;Cd=750;P=7 b) P only changes and is now 9.33

Explanation:

a)  In a closed economy national savings are equal to investments or:

S d = I d = Y - Cd - G

Id = Y - 100 - 0.8*Y + 500*r - 0.5*G

100 - 500*r = 0.2*Y -100 + 500*r -0.5*G

200 - 1000*r = 0.2*1000 - 0.5*200=100

-1000*r=-100

r= 0.1

i = 0.15

Id = 100 -50 =50

Cd= 100 + 800 - 50 - 100=750

P = Md/Y-2000 i

P= 2100/1000 -300=7

b) If money supply increases to 2800, the price level would be:

P = 2800/Y - 2000*i = 2800/Y- 2000*(i-inflation)

However, since the variables determining real interest rate remained the same, r is also the same or 0.1 and i is 0.15. Consumption and investment remain the same, only price level changes or:

P=9.33  

4 0
2 years ago
Deferral adjustments are needed when the business:
prisoha [69]

Answer:

The correct answers are the options B and D: Pays cash before the expense has been incurred. And receives cash before the revenue has been generated.

Explanation:

To begin with, in the accounting field the term of "Deferral Adjustments" refers to those that the accountant does when they postpone the report of it in the income statement until a later period, so that means that when an event happens they might decide to postpone the report of that particular transaction doing what it is called "defer". Moreover, the two most common cases when the accountants use this technique are the ones choosen from the options, the cases B and D.

6 0
3 years ago
If the federal funds rate were above the level the Federal Reserve had targeted, the Fed could move the rate back towards its ta
Dmitriy789 [7]

Answer:

The correct answer is option b.

Explanation:

If the federal fund's rates were above the targeted rate, the Fed would need to move it towards the targeted rate. To move the interest rate towards the targeted rate, the government would need to increase the money supply. This can be done by buying bonds. When the Fed buys bonds they pay for it, this causes the money supply to increase. As the supply curve shifts to the right, the interest rate will fall down.

4 0
3 years ago
What is the great advantage of competitive markets?
andrew11 [14]
Prices are very cheap
6 0
3 years ago
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