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Margaret [11]
3 years ago
14

Which of the three factors of production do you think is most important to economic success? Why?

Business
1 answer:
Viktor [21]3 years ago
6 0

if you mean capital, labour, land

then I would choose labour, as you can't have a company with no people, and new ideas to improve economic activity require human thought

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You are a manager at Asda. You have been given the demand data for the past 10 weeks for swim rings for children. You decide to
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Answer: Ch ch ch chia

Explanation:

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3 years ago
In order to produce a new product, a firm must lease new equipment. The managers feel that they can sell 10,000 units per year a
kogti [31]

Answer:

The most the firm can spend to lease the new equipment without losing money=$75,000

Explanation:

The point at which the revenue in terms of sales equals the cost is the break-even point. This can be expressed as;

R=C

where;

R=revenue from sales

C=cost

And;

R=P×N

where;

R=revenue from sales

P=price per unit

N=number of units

In our case;

P=$7.5 per unit

N=10,000 units

replacing;

R=7.5×10,000=$75,000

Total revenue from sales=$75,000

C=p×n

where;

p=cost per unit

n=number of units

In our case;

p=$5

n=unknown

replacing;

C=5×n=5 n

At break-even point, R=C;

5 n=75,000

n=75,000/5=15,000

The break-even cost=5×15,000=$75,000

The most the firm can spend to lease the new equipment without losing money=$75,000

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3 years ago
How is the law of increasing costs similar to the concept of decision making at the margin?
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3 years ago
If beginning inventory is $60,000, cost of goods purchased is $380,000, and ending inventory is $50,000, cost of goods sold is $
k0ka [10]

Answer:

390,000

Explanation:

The cost of goods sold is the expense incurred in producing goods to be sold in a period. It is abbreviated as COGS.

The cost of goods sold is calculated using the formula

COGS = opening stock + purchase/ cost of goods manufactured - ending stock

In this case:

Beginning  stock = $60,000

Ending stock =$50,000

Cost of goods manufactured $380,000

COGS= $60,000 + $380,000- $50,000

COGS = $390,000

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3 years ago
You just made the last monthly payment on a 30 year mortgage -- the house is yours! In your joyous moment, you calculate how muc
makkiz [27]

Answer:

$112,807

Explanation:

To calculate the amount of money you borrowed, you have to use the formula to calculate the present value:

PV=FV/(1+r)^n

PV= pressent value

FV= future value= 647,514

r= rate= 6%

n= number of periods of time= 30

PV=647,514/(1+0.06)^30

PV=647,514/(1.06)^30

PV=647,514/5.74

PV=112,807

According to this, you originally borrowed $112,807 for this house.

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3 years ago
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