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vfiekz [6]
3 years ago
13

If a fisherman must sell all of his daily catch before it spoils for whatever price he is offered, once the fish are caught, the

fishermanâs price elasticity of supply for fresh fish is
a. zero

b. one.

c. infinite.

d. unable to be determined from this information.

e. two.
Business
1 answer:
SpyIntel [72]3 years ago
6 0

Answer:

Zero

Explanation:

Supply is buyers ability & willingness to sell at given price, period of time.

Elasticity of Supply is change in supply by buyers, in response to price change.

Supply Elasticity is as undermentioned in following cases :-

  • Zero (Perfectly Inelastic) - Quantity supplied doesn't change with price change.
  • Inelastic - Quantity supplied change <  price change.
  • Elastic - Quantity supplied change > price change
  • Infinite (Perfectly Elastic) - Quantity supplied responds infinitely high to price change, prices stay constant.

Given : Fishermen must sell all his daily catch before it spoils; means he will have to sell daily produce <u>irrespective</u> of any price change (rise / fall). So, the elasticity of supply is zero.

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All of the following are true regarding annuities, except: A They are similar to life insurance B They are designed to protect a
Arada [10]

Answer:They can liquidate an estate.

Explanation: Annuities are contracts between a person and an insurance company following a future endeavors,the future endeavors can include lifetime income,future projects etc. Annuities are contracts which have been around for a long time now,they are similar to life insurance. Annuities can not liquidate estates,they are protected against outliving a person's income.

Annuities became very popular during the great depression in the United States of America,when the value of stocks dropped drastically.

7 0
3 years ago
EA13.
navik [9.2K]

Answer:

Journal entries for the  

Completion of Job 113

Debit Finished Good/Inventory Account     $ 5000

Credit WIP JOB 113 Account                         $ 5000

(In words we will debit finished good account by shifting work in process related to the job 113 in it)

Journal entries for the  

Completion and sale of Job 85

Debit Finished Good/Inventory Account     $ 3000

Credit WIP JOB 113 Account                         $ 3000

For sales following two entries will be passed.

Debit Cost of Good Sold Account                    $ 3000

Credit Finished Good/Inventory Account        $ 3000

Debit Cash (or Receivable if credit sale)          $ 4500

Credit Sales Account                                         $ 4500

6 0
3 years ago
If the commercial is TRUE that every additional bite of food tastes as good as the first, the marginal utility from consuming mo
zlopas [31]

Answer: If the commercial is TRUE that every additional bite of food tastes as good as the first, the marginal utility from consuming more of the advertised product must be CONSTANT. Option D.

Explanation:

Marginal utility is the additional satisfaction an individual gets, from consuming an additional unit of a product or service.

Therefore, in the scenario given above, if every additional bite of food tastes as good as the first, then the additional satisfaction is just as good as the preceding satisfaction. We can therefore say that the marginal utility gotten from consuming that product is constant.

4 0
3 years ago
According to Fred Luthans and his associates' study of 450 managers, ________ made the largest contribution to the success of ma
dedylja [7]

Answer and Explanation:

A) networking

6 0
3 years ago
The market size and market growth rates in the foreign market can be influenced negatively by:______.A. population sizes, income
Nikitich [7]

Answer:

A. population sizes, income levels and cultural influences, the current state of the infrastructure and distribution and retail networks available.

Explanation:

The reason is that the foreign markets are affected by the cultural differences for example if US clothing brand enters Suadia Arabia then it can not sell its brands here because in the Suadia Arabian culture girls wear full sleeves and are not skin tight fits. This means that the culture have an influence over the foreign markets. Likewise the income level tells about how much the customer can spend on luxury items, population of customers available is also an attractive part that the investors see to move in the markets. The infrastructure of a country and the regional importance of the state are also the motivators for the foreign companies to move in to the market.

These factors are the ecosystem of the country that gives insight of the market size and market growth of a particular market.

8 0
3 years ago
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