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3 years ago

Suppose you are trying to understand the effect that an increase in the price of grapes will have on the market for wine.

Business

1 answer:

NemiM [27]3 years ago

4 0

Answer:

The correct answer is option d.

Explanation:

The most effective model to understand the effect of change of a variable on other variable is by assuming other factors to be constant. This simplifies the model and helps in easily understanding the relationship between the two variables.

Though the assumption of other things being constant does not apply in the real world, it is still used as otherwise change in other factors would complicate the model. If several factors change it would be difficult to understand the relationship between variables.

Here, to study the effect of change in the price of grapes on the market for wine, it is necessary to assume other factors such as income, consumer preferences, etc to be constant.

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roarie brothers farm a seed company specializing in seed corn. at their weekly meeting they tried to calculate the portion of th

alexdok [17]

Answer:

variable cost per bushel = $0.18848

total fixed costs = $6,652

Explanation:

we can use the high-low method of accounting to determine the variable and fixed costs:

highest activity cost = $25,500
highest activity level = 100,000 bushels

lowest activity cost = $7,500 (*doesn't make sense to use $75,000)
lowest activity level = 4,500

variable cost per unit = (highest activity cost - lowest activity cost) / (highest activity units - lowest activity units)

variable cost per unit = ($25,500 - $7,500) / (100,000 - 4,500) = $18,000 / 95,500 bushels = $0.18848 per bushel, since the quantities are large, we cannot round up

fixed costs = highest activity cost - (variable cost x highest activity units)

fixed costs = $25,500 - ($0.18848 x 100,000) = $6,652

6 0

2 years ago

Read 2 more answers

According to the public choice modelLOADING..., how do policymakers arrive at their decisions? The public choice model suggest

8090 [49]

Answer: The correct answer is "E. policymakers will pursue their own self minus interest.".

Explanation: According to the model of public choice, policy makers arrive at their decisions, pursuing their own interests mainly seeking his re-election and only as a secondary objective seeks social good.

4 0

3 years ago

Big data analytics programs (analyzing massive data sets to make decisions) use gigantic computing power to quantify trends that

Gekata [30.6K]

Answer:

It will not decrease the humanity of production.

Explanation:

Big data analytics is useful for unraveling hidden patterns and correlations. Big data analytics is sometimes linked to be a direct descendant of Frederick Winslow Taylor’s scientific management and recently it is the most recent iteration of the quantitative approach to management.

Big data is used in management in activities that includes humans or individuals therefore it will not reduce the humanity of production in organizations.

6 0

2 years ago

What are the three main types of economic systems?

otez555 [7]

Answer:

command, market, and mixed

3 0

2 years ago

Clampett, Incorporated, has been an S corporation since its inception. On July 15, 2021, Clampett, Incorporated, distributed $50

statuscvo [17]

Answer:the total amount of income J.D. recognizes related to Clampett, Incorporated, in 2021 =$5,000

Explanation:

Income of J.D related to Clampett = Ordinary income + Capital gain

Given that Basis distribution = $50,000

Basis stock = $45,000

Ordinary income = $10,000

But Capital gain = Basis distribution -( Basis stock + Ordinary income)

Capital gain = $50,000 - ($45,000 +$10,000)

Capital gain = $50,000 - $55,000

Capital gain = = - $5,000

Therefore J.D. income related to Clampett = Ordinary income + Capital gain =$10,000 +(- $5,000)

=$10,000 - $5,000

=$5,000

7 0

2 years ago