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Vinvika [58]
3 years ago
5

The market for land is competitive and in equilibrium at the rental rate of $500 per acre and the supply of land is perfectly in

elastic at 1000 acres. If the demand for land falls and the rental rate falls to $400 per acre, the total economic rent on this land _____ by _____.
Business
1 answer:
Elina [12.6K]3 years ago
5 0

Answer:

Falls by $100,000

Explanation:

In this question, we are asked to calculate and state what happens when demand for land falls and as a result, there is also a fall in rental rate.

Firstly, we cost the total of 1000 acres. The price of 1000 acres is simply the multiplication of the 1000 acres by the $500 unit price= 500 * 1,000 = $500,000

We now calculate the price or worth of the land when demand falls

This is mathematically equal to 400 * 1000 = $400,000

Now, the net economic rent fall would be $500,00 - $400,000 = $100,000

Hence, there would be a fall of $100,000 as the demand for land falls

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24. You have saved $4,000 for a down payment on a new car. The largest monthly payment you can afford is $350. The loan will hav
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The most expensive car can be afforded is = $17290.89

Explanation:

The down payment of a new car = $4000

The mothly payment (annuity ) = $350

Interest rate on the rate = 12% = 12% / 12 per month.

Now we have to calculate the most expensive car that can be afforded with the finance time of 48 months.  

Below is the calculation:

Present \  value = annuity \times \left [ \frac{1-(1+r)^{-n}}{r} \right ] \\= 350 \times \left [ \frac{1-(1+ 0.01)^{-48}}{0.01} \right ] \\= 13290.89 \\

\text{Total value of car}  = savings +  present \ value \\=  4000 + 13290.89 \\= 17290.89

7 0
3 years ago
Suppose that, at a given level of disposable income, consumers decide to save more. Explain what effect this decision will have
-Dominant- [34]

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The use of ___________ is based, in part, on the belief that the term is broader than public relations, and encompasses all comm
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Based on the group being discussed, corporate communications may come in many forms. In conclusion, the communication strategy for a company would generally consist of the printed word, verbal word, and un-spoken interaction.

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6 0
3 years ago
5. Score Skateboard Company is a small firm that designs and manufactures skateboards for high school and college students who w
Marianna [84]

Answer:

(a) Cost to Score for an employee with $1,100.00 gross pay is $1,175.00.

(b) Cost to Score for an employee with $850.00 gross pay is $925.00.

(c) Total gross semimonthly pay for all six employees is $6,050.

Explanation:

The questions can be answered as follows:

a. Calculate the cost to Score for an employee with $1,100.00 gross pay in the first pay period in January.

This can be calculated as follows:

Cost to Score for an employee with $1,100.00 gross pay = Gross pay + Contribution to retirement fund = $1,100.00 + $75.00 = $1,175.00

b. Calculate the cost to Score for an employee with $850.00 gross pay in the first pay period in January.

This can be calculated as follows:

Cost to Score for an employee with $850.00 gross pay = Gross pay + Contribution to retirement fund = $850.00 + $75.00 = $925.00

c. Calculate the total gross semimonthly pay for all six employees.

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Cost to Score for 2 employee with $1,100.00 gross pay = $1,175.00 * 2 = $2,350

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Total gross semimonthly pay for all six employees = Cost to Score for 2 employee with $1,100.00 gross pay + Cost to Score for 4 employee with $850.00 gross pay = $2,350 + $3,700 = $6,050

8 0
3 years ago
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