Answer:
Explanation:
The monthly payment to pay a loan with constant rate is given by the formula:
![Payment=Loan\times \bigg[\dfrac{r(r+1)^t}{(r+1)^t-1}\bigg]](https://tex.z-dn.net/?f=Payment%3DLoan%5Ctimes%20%5Cbigg%5B%5Cdfrac%7Br%28r%2B1%29%5Et%7D%7B%28r%2B1%29%5Et-1%7D%5Cbigg%5D)
Where:
- r is the monthly compounded rate and it is equal to the APR (annual percentage rate) divided by 12: r = 5.5%/12 = 0.055/12
- t is the number of months: t = 60
Then, you can subsitute with the maximum payment to find the <em>maximun amount you can afford to borrow</em> (loan):
![\$200=Loan\times \bigg[\dfrac{(0.055/12)((0.055/12)+1)^{60}}{((0.055/12)-1)^{60}-1}\bigg]](https://tex.z-dn.net/?f=%5C%24200%3DLoan%5Ctimes%20%5Cbigg%5B%5Cdfrac%7B%280.055%2F12%29%28%280.055%2F12%29%2B1%29%5E%7B60%7D%7D%7B%28%280.055%2F12%29-1%29%5E%7B60%7D-1%7D%5Cbigg%5D)
Answer: See explanation
Explanation:
a. This occurs when a person's income exceeds his consumption. - This is savings.
b. This occurs when a person or firm purchases new capital. - This is investment.
1. You use your $200 paycheck to buy stock in AT&T. - This is savings since the money isn't used to make a capital purchase for ones business.
2. You borrow $1,000 from a bank to buy a car to use in your pizza delivery business. - This is investment as the car will be used for ones business. The consumption is made to help the business.
3. Your family takes out a mortgage and buys a new house. - This is investment as a new capital is bought.
4. Your roommate earns $100 and deposits it in his account at a bank. - This is savings as no consumption is involved.
Answer:
Consumers cannot find enough of a popular new toy in stores.
Explanation:
If there is a shortage, there is not enough supply for the demand.
It is an advantage when group incentives encourage competition between groups of employees when groups try to outdo one another in satisfying customers.
Competition is uncertainty about how to ensure survival. Competition can occur between entities such as organisms, individuals, and economic and social groups. Rivalry is about achieving unique goals such as visibility, leadership, market share, niche, scarce resources, or territory.
Competition, most commonly viewed as the interaction of individuals competing for a finite common resource, is the direct or indirect interaction of organisms that results in changes in fitness when they share the same resource. can be defined more broadly as a dynamic interaction.
There are four kinds of competition in a loose marketplace machine: perfect opposition, monopolistic competition, oligopoly, and monopoly.
The four key characteristics of perfect competition are: (1) a huge wide variety of small companies, (2) equal merchandise offered by all firms, (three) perfect resource mobility or the liberty of entry into and go out out of the enterprise, and (4) perfect information of costs and generation.
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Answer:
would leave the market first if the price were any lower.
Explanation:
Utility can be defined as any satisfaction or benefits a customer derives from the use of a product or service.
Thus, any satisfaction or benefits a customer derives from the use of a product or service is generally referred to as a utility.
In Economics, The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.
A marginal seller refers to an individual or business firm that is most willing to sell his or her goods and services at a price that is typically equal to their economic cost while forfeiting producer surplus.
A producer surplus is the amount a buyer is willing to pay for a good minus the cost of producing the good.
Hence, a marginal seller is the seller who would leave the market first if the price were any lower.
