Answer:
The estimated cost for selling and administration expenses is:
47900+52*6000=$359900
Explanation:
Audrey Corporation's cost for selling and administrative expenses present fix and variable costs. They plan a fixed cost of $47,900 and a variable cost of $52 unit.
The formula is:
SandA COST= 47900+52*Q
For April they planned to sell 6000 units.
The estimated cost for selling and administration expenses is:
47900+52*6000=$359900
If the formula is accurate the real cost of selling and administration is:
47900+52*5960=$357,820
Answer:
it can still gain from international trade in that commodity, by getting it at a lower opportunity cost than if it produced it domestically.
Explanation:
A country has comparative disadvantage in production if it produces at a higher opportunity cost when compared to other countries.
The country with a comparative disadvantage can gain from trade by trading the good with a country that has comparative advantage in the production of that good. i.e. the country produces at a lower opportunity cost
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country B has a comparative disadvantage in the production of beans and country A has a comparative disadvantage in the production of rice
Country B should buy beans from A and A should buy rice from B
Answer: Option (B) is correct.
Explanation:
The nominal GDP is equal to the real GDP in the base year, that's why GDP deflator in the base year is equal to 100.
GDP deflator is calculated as the nominal GDP divided by the real GDP multiply by 100. It is shown as:
GDP deflator = 
GDP deflator would be used as the conversion factor that transformed the real GDP into nominal GDP.
Answer:
B) $7
Explanation:
The computation of the consumer surplus is shown below:
Consumer surplus = Willing to pay - Market price
For Austin, The consumer surplus = $10 - $6 = $4
For Erin, The consumer surplus = $9 - $6 = $3
So, the total consumer surplus = $4 + $3 = $7
Simply we deduct the market price from the willing to pay so that the consumer surplus can be computed
The terms best refer to anything that can be bought or sold
goods and services
This is further explained below.
<h3>What
terms best refer to anything that can be bought or sold?</h3>
Generally, The output of an economic system consists of things like goods and services.
While services consist of activities that are carried out for the advantage of the receivers, goods are physical products that are sold to clients. Products such as autos, home appliances, and apparel are all examples of goods.
In conclusion, The terms best refer to anything that can be bought or sold
goods and sevices
Read more about goods and services
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