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3 years ago

Most economists believe that prices are:

Business

1 answer:

BaLLatris [955]3 years ago

8 0

Answer: Most economist believe that prices are flexible in the long run but many are sticky in the short run.

Explanation:

Prices are sticky in the short run because producers and buyers take time to adapt to new situations. If there is a shortage of butter, lets say, the economic theory says that the prices will rise because there is less butter ( ceteris paribus = all the other factors remain constant). Actually, buyers and suppliers need time to adapt to the new situation. However, in the long run buyers and suppliers have time to adapt to new situations so prices become more flexible.

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A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper Fixed costs Variabl

shtirl [24]

Answer:

Results are below.

Explanation:

Giving the following information:

Fixed costs= $192,000

Unitary variable cost= $320 per week

Selling price per unit= $480 per week

To calculate the total cost, we need to use the following formula:

Total cost= fixed costs + unitary variable cost*number of units

Total cost= 192,000 + 320*number of weeks

Now, the total revenue:

Total revenue= selling price per week*Number of weeks

Total revenue= 480*x

Finally, the break-even point in units:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 192,000 / (480 - 320)

Break-even point in units= 1,200 campers

3 0

2 years ago

Inflation is 14 percent. Debt is $4 trillion. The nominal deficit is $360 billion. What is the real deficit or surplus

DiKsa [7]

Answer:

Real Surplus is $200 billion

Explanation:

Inflation = 14%

Debt = $4 trillion = $4,000 billion

Nominal deficit = $360 billion

Real Deficit = Nominal deficit - (Inflation*Debt)

= $360 - 14% * 4,000

= $360 - 560

= -$200

Hence, the answer is Real Surplus of $200 billion

8 0

2 years ago

How does unsafe food harm us

Flauer [41]

Answer:

Unsafe food creates a vicious cycle of disease and malnutrition, particularly affecting infants, young children, elderly and the sick. Foodborne diseases impede socioeconomic development by straining health care systems, and harming national economies, tourism and trade.

6 0

2 years ago

Read 2 more answers

What is the difference between a monopolistically competitive demand curve and a perfectly competitive demand curve

shtirl [24]

The demand curve for a perfectly competitive firm is completely elastic and a horizontal line. Monopolistically competitive demand curve is downward sloping and is more elastic than monopoly because there are more substitutes.

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2 years ago

A multimillion-dollar u.s. project to construct a suspension bridge is in progress. true structures inc. in canada shares both p

umka21 [38]

Answer: Joint Venture

A Joint Venture is a business entity that is created when two or more corporations pool in their resources for a specific project.

The corporations that are a part of the Joint Venture share the governance, risks and rewards of the joint venture.

In a Joint venture the corporations who come together to form a joint venture retain their distinct entities.

7 0

2 years ago