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4 years ago

What does the process of specialization do for an economy?

2 answers:

7 0

Specialization is when all the productive efforts of an economy are put into a particular sector of an economy so the production therefore becomes more efficient.

Firdavs [7]4 years ago

5 0

Answer: B. It makes production more efficient.

Explanation:

Specialization is the process through which a nation decides to produce limited goods that is the economy’s production process focuses on producing specific goods thereby trading with other countries in order to buy goods which they are unable to produce. Hence, specialization makes production more efficient for an economy because the country produces goods and services which they are good at producing with little input very quickly and successfully.

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onsider the market for purple potatoes below and assume that a price ceiling of $30 is imposed by the government. Calculate the

Troyanec [42]

Answer:

Deadweight loss is $5000

Explanation:

Calculation to determine what deadweight loss is

First step is to calculate the Change in quantity

Change in quantity =2500-2000

Change in quantity=500 unit

Now let determine the Deadweight loss

Using this formula

Deadweight loss =0.5* Change in quantity *(Willingness to pay at the price ceiling -Price ceiling)

Let plug in the formula

Deadweight loss =0.5*500*(50-30)

Deadweight loss=250*20

Deadweight loss =5000

Therefore the deadweight loss is $5000

3 0

3 years ago

Amount financed is equal to: Cash price times down payment Cash price plus down payment Cash price minus down payment Cash price

Nikitich [7]

The answer is Cash Price Minus Down Payment

For Example if you want to Borrow $ 10,000 for Loan, and for that you have to pay for a $500 Down Payment.

The amount financed is 10,000 - 500 = $ 9,500

6 0

3 years ago

Baskets Inc. gathered the following actual results for the current month: Actual amounts: Units produced 5600 Direct material

Novosadov [1.4K]

Answer:

Direct Material Quantity Variance = $10200 Fav

Explanation:

given data

Units produced = 5600

Direct materials purchased and used (7800 lbs.) = $70,200

Budgeted production = 5300 units

Direct materials 2.0 lbs/unit = $3/lb

to find out

direct materials quantity variance

solution

we get here Direct Material Quantity Variance that is express as

Direct Material Quantity Variance = (Standard Quantity - Actual Quantity) × Standard Rate ......................1

so put here value we get

Direct Material Quantity Variance = ( 5600 × 2.0 - 7800 ) × 3

Direct Material Quantity Variance = (11200 - 7800 ) × 3

Direct Material Quantity Variance = $10200 Fav

3 0

3 years ago

If the prices of X and Y are $2 and $4 per unit, respectively, and this consumer has $10 in income to spend, to maximize total u

beks73 [17]

Answer:

In this case the consumer needs to buy one unit of X good and 2 units of Y goods to maximize total utility.

Explanation:

In order to maximize total unity, the consumer needs to buy buy one unit of X good and 2 units of Y. This combination of goods will give the total satisfaction to the consumer with its available resources.

Utility is a meaning, which is used in economics. Which is used for satisfaction and fulfillment. That a consumer receives from the consumption of a particular product or service.

Total utility is the overall or total satisfaction a customer receives through taking a specific good or service.

7 0

4 years ago

E-Eyes has a new issue of preferred stock it calls 20/20 preferred. The stock will pay a $20 dividend per year, but the first di

tensa zangetsu [6.8K]

Answer:

$63.27

Explanation:

Calculation of how much should you pay on the stock today

First step

The Price of stock 19 years from now will be:.

20/0.075

= 266.67

Second step

The Price of stock today will be :

The price of stock from 19 years from now which is:

250 / (1.075)^19

=250/3.951489

=$63.27

Therefore how much should you pay on the stock today will be $63.27

5 0

3 years ago