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SCORPION-xisa [38]
3 years ago
6

An economist studying the market for wild Alaskan salmon determines the price elasticity of supply to be 0.43. a. In this case,

the price elasticity of supply is said to be: inelastic. elastic. unit-elastic. b. A 10% increase in price will lead to: exactly a 10% increase in quantity supplied. a more than 10% increase in quantity supplied. a less than 10% increase in quantity supplied.
Business
2 answers:
bonufazy [111]3 years ago
7 0

Answer:

It will result in 10% increase in quantity supplied.

Marina86 [1]3 years ago
4 0

Answer:

A. Inelastic

B. a less than 10% increase in quantity supplied

Explanation:

A supply is inelastic when a percentage change in quantity supplied is less than percentage change in price.

A supply is inelastic if the price elascitiy is less than 1.

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The campground will make the most economic profit whenit has property rights to a clean lake . True or False: The fish cannery w
babymother [125]

Answer:

hi your question is incomplete here is the complete question

Consider a lake found in the town of Center Barnstead,

The town has a campground whose visitors use the lake for recreation. The town also has a fish cannery that dumps industrial waste into the lake. This pollutes the lake and makes it a less desirable vacation destination. That is, the fish cannery's waste decreases the campground's economic profit.

Suppose that the fish cannery could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the campground would no longer be affected. If the fish cannery uses the recycling method, then the fish cannery's economic profit is $1,500 per week, and the campground's economic profit is $1,800 per week. If the fish cannery does not use the recycling method, then the fish cannery's economic profit is $2,000 per week, and the campground's economic profit is $1,000 per week. These figures are summarized in the following table.

Action

Profit

Fish Cannery

Campground

Total

(Dollars)

(Dollars)

(Dollars)

No Recycling 2,000 1,000  

Recycling 1,500 1,800  

Total economic profit is highest when the recycling production method is   .

When the fish cannery uses the recycling method, the campground earns $1,800−$1,000=$800$1,800−$1,000=$800 more per week than it does with no recycling. Therefore, the campground should be willing to pay up to $800 per week for the fish cannery to recycle water. However, the recycling method decreases the fish cannery's economic profit by $2,000−$1,500=$500$2,000−$1,500=$500 per week. Therefore, the fish cannery should be willing to use the recycling method if it is compensated with at least $500 per week.

Suppose the campground has the property rights to the lake. That is, the campground has the right to a clean (unpolluted) lake. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method and will pay the campground   per week.

Now, suppose the fish cannery has the property rights to the lake, including the right to pollute it. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method, and the campground will pay the fish cannery   per week.

ANSWER

  • True
  • True

Explanation:

The campground will make the most economic profit when it has property rights to a clean lake : True. this is true because the Fish cannery will be using the recycling method and from the table it is seen that when the recycling method is used The Campground make the most economic profit

The fish cannery will use the recycling method regardless of who has the property right : TRUE . this is because the Fish cannery will use the recycling method anyways because the recycling method would not pollute the water hence not interfering with the campground activities in case they own the property rights.

6 0
3 years ago
Red and White Company reported the following monthly data: Units produced 2,400 units Sales price $ 29 per unit Direct materials
saveliy_v [14]
Lolhtdcc dad ytt try to tu to tho go in rn go go
4 0
3 years ago
The production engineers have prepared a report detailing the types and amounts of inventory required for production. This docum
IceJOKER [234]

Answer:

C. Bill of Materials

Explanation:

The engineers make the list and then it is checked against the raw materials record to know how much existences are for each of the raw materials requested.

This is done to create some control, as the person that make the bill aren't the person who check the inventory therefore, they cannot overstate or understate the materials as they will be checked for the amount used.

5 0
3 years ago
McKinnon Enterprises owns a professional ice hockey team, the Rockford Penguins. The company sells season tickets for its upcomi
lesantik [10]

Answer:

$320,000

Explanation:

Since the season starts in January and lasts until June, by April 30 the balance of the deferred revenue (or unearned revenue account) would be =  $960,000 - {($960,000 / 6) x 4} = $960,000 - $640,000 = $320,000

The journal entries should be:

Accumulated tickets until December 31

Dr Cash 960,000

   Cr Deferred (Unearned) revenue 960,000

By April 30th, the adjusting entry should be:

Dr Deferred (Unearned) revenue 640,000

    Cr Ticket revenue 640,000

7 0
3 years ago
On July 1, 2011, Hale Kennels sells equipment for $66,000. The equipment was originally purchased on July 1, 2007 at a cost $180
topjm [15]

Answer:

Accumulated Depreciation As of December 31, 2010  = $105,000

Explanation:

<em>Under the straight line method of depreciation, the cost of an asset less the salvage value is spread equally over the expected useful life.</em>

<em>Annual depreciation:</em>

= (cost of assets - salvage value)/ 5 years

= (180,000 -30,000)/5

=.$30,000

<em>From July 1 2007  to December 31 2010 = 3 years 6 months = 42 months</em>

So total accumulated depreciation at the end of 3 years 6 months :

=  ( 30,000/12) ×  42

= $105,000

Accumulated Depreciation As of December 31, 2010 = = $105,000

4 0
3 years ago
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