Answer:
Quotas do not affect the equilibrium price, whereas tariffs do not affect the equilibrium quantity.
Explanation:
The import tariff decreases the import quality from AD to CB and increases the price of the good from P to P*. The import restricting effect and consumption effect is same for quotas and tariff. So, the deadweight loss from them is the same from quotas and tariff (HIJ and GEF).
Please observe the image attached.
However, tariff enables the government to increase their revenue from the imports while import quotas precludes such revenue (GEHI). Thus, the cost tariff is lower than the import quotas imposed.
The answer is the formation of a cognitive map. A cognitive map is a kind of mental illustration which helps an individual to obtain, code, collect, remember, and decipher info about the kin locations and features of occurrences in their everyday environment.
Answer:
- Sacred consumption
- Profane consumption
Explanation:
This differentiation is based on special religious events (e.g. religious holidays) that considered some goods as sacred, while profane had to do with everyday life.
Some modern marketing strategies try to build sacred brands. For example, Google has become our God of all knowledge and no one even dares to challenge that almost religious belief. Anyone can make their own coffee or buy coffee at any coffee shop, but Starbucks is different, it has built a sense of emotional connection with the public. It's not any coffee that we need or want.
Answer:
4.62 years
8.02%
Explanation:
The payback period is the number of years it would take the investment to recoup itself.
Payback=initial capital outlay/annual cash flow
initial capital outlay is the cost of the new machine plus installation cost minus the salvage value of the old machine.
initial capital outlay=$40,070+$1,200-$2,000=$ 39,270.00
Annual cash flow is the reduction in operating costs of $8,500 per year
payback =$ 39,270.00/$8,500.00=4.62 years
The internal rate of return is computed in the attached
Answer: B) unit of Account
Explanation:A unit of account in financial accounting refers to the words that are used to describe the specific assets and liabilities that are reported in financial statements rather than the units used to measure them. Unit of account in economics allows a somewhat meaningful interpretation of prices, costs, and profits, so that an entity can monitor its own performance. It allows shareholders to make sense of its past performance and have an idea of its future profitability.
