Solution:
Pick some smart number for x,
let x=2 (I chose x=2 as in this case monthly shipments would be X/2=1).
From January to April, inclusive 4x=8 brooms were produced and
in May the company paid for storage of 8-1 =7 brooms,
in next month for storage of 6 and so on.
So the total storage cost would be:
= 1 ∗ (7+6+5+4+3+2+1+0)
= 28
--> as x=2 , then 28 = 14x
So the answer is 14x
Answer:
The correct answer is D.
Explanation:
Giving the following information:
Marta estimates that the fixed costs associated with opening her new hair salon are $100,000. She expects the salon to attract 500 new customers in the first year, each of which will cost $25 to service.
Total cost= total fixed costs + total variable cost
Total cost= 100,000 + 25*500= 112,500
Answer: Option (c) is correct.
Explanation:
Oranges and Apples are substitute goods. There is a direct relationship between the demand of a particular good and price of its substitute good.
This states that an increase in the price of its substitute good will generally lead to increase the demand for a particular good.
In our case, the cost of producing oranges decreases, as a result there is a reduction in the price level of oranges. Hence, this will lead to reduce the demand for apples though its price remains the same.
This will shift the demand curve for apple leftwards, as a result both equilibrium price and equilibrium quantity decreases in apple market.
Answer:
e. All of the above
Explanation:
A perfect competition is characterised by many buyers and sellers of identical products. Firms in a perfect competition are price takers.
In the long run, a perfect competitive firm produces where:
Price = marginal cost = marginal revenue = average long run cost. Producing at this point eliminates all forms of economic profit. Therefore, the firm earns only normal profit.
In the long run , there is zero economic profit, therefore, there would be no incentive for firms to enter into the market.
Answer:
the rate of commission is 8%
Explanation:
The computation of the rate of commission is shown below:
Rate of commission is
= Commission received by the broker ÷ Sale value of the home
where,
The Commission received by the broker is $13,200
And, the sale value of the home is $165,000
Now put these values to the above formula
So, the rate of commission is
= $132,00 ÷ $165,000
= 8%
Hence, the rate of commission is 8%