Answer:
Economics is regarded as social science because build it uses scientific methods to explain the theories that can help explain the behaviour of individuals, groups and organisations. Economics attempts to explain economic behaviour, which arises when scarce resources are exchanged
Answer:
$2,650,000
Explanation:
For Instrument Division:
Increase in Income per unit:
= Existing Purchase Price - New Purchase Cost (Transfer price)
= $175 - $148
= $27
Total Savings/Increase in Income:
= Number of units × Increase in Income per unit
= 50,000 × $27
= $1,350,000
For Components Division:
Increase in Income per unit:
= Sales or transfer price - Variable Cost
= $148 - $122
= $26
Total Savings/Increase in Income:
= Number of units × Increase in Income per unit
= 50,000 × $26
= $1,300,000
Therefore, the total income from operations increase is as follows:
= Instrument division increase in income + Component division increase in income
= $1,350,000 + $1,300,000
= $2,650,000
The answer is explained in detail below
Explanation:
Labor, L = 2000; Capital, K = 3000
Labour constraint,
Capital constraint ,
Solving the equation further, we get
- The range for the relative price of cloth such that the economy produces both cloth and food is 2/3 and 2
- Low cloth production → economy will use relatively more labor to produce cloth → opportunity cost of cloth is 2/3rd units of food.
- High cloth production → economy dips on labor → taking capital away from food production → raising opportunity cost of cloth to 2 units of food.
- If relative price of cloth lies between 2/3 and 2 units of food, the economy produces both goods.
- If the price of cloth decreases below 2/3 → complete specialization in food production → low compensation for producing cloth
- If the price of cloth rises above 2 → complete specialization in cloth production → low compensation for producing food
Answer:
The statement is: True.
Explanation:
Company size is determined by the number of employees, legal and financial structure, and market niche. Those factors will influence the production of the firm and its market share. Typically, companies with more than 1,500 workers are considered large entities but it varies according to the industry. Among similar organizations, their size can be established comparing one and another.
Answer:
Accounts payable would be 20.42% of the balance sheet , when preparing a vertical analysis.
Explanation:
In the question it is told that Ginger bread is doing a vertical analysis, where when we have to calculate the percentage of certain item of the balance sheet , we will use formula -
( Balance sheet item / Total liability ) x 100
Given information - Accounts payable = $245,000
Total liabilities = $1200,000
Putting these values in formula -
= $245,000 / $1200,000 X 100
= .20416 X 100
= 20.416
= 20.42% ( APPROXIMATELY )
