Deadweight losses occur when the quantity of an output produced is: ... Less than or greater than the competitive equilibrium quantity. Such that the marginal benefit of the output is just equal to the marginal cost.
<u>Given:</u>
Cost of the office equipment in pounds = 2000
Value of 1 pound in dollars as per exchange rate = 1.9
<u>To find:</u>
The cost of the office equipment in dollars
<u>Solution:</u>
If 1 pound is 1.9 dollars, then 2000 pounds will be as follows,
So, the correct option is Option c, that is $3800.
Agree, since two minds work better than one.
Answer:
Say's law in economics is the ability to purchase something depends on the ability to produce and thereby generate income.
Answer:
The mark up percentage on total cost is 13%.
Explanation:
Mark up percentage on total cost refers to the profit as a percentage of the total cost.
Therefore, the mark up percentage on total cost can be calculated using the following formula:
Mark up percentage on total cost = (Desired profit / Total cost) * 100 ......... (1)
Where;
Desired profit = $143
Total cost = $1,100
Substituting the values into equation (1), we have:
Mark up percentage on total cost = ($143 / $1,100) * 100 = 0.13 * 100 = 13%
Therefore, the mark up percentage on total cost is 13%.
