Answer:
The equation for Edmund's budget line is 6C - 24G = 48
Explanation:
A budget line shows all possible combinations of two commodities that a consumer can buy at a given income level and at given market prices of commodities. The equation of the budget line is as follows.
M = (Px).X + {Py).Y where
M = Income
Px = Price of commodity X
X = Units of commodity X purchased
Py = Price of commodity Y
Y = Units of commodity Y purchased
In this question, Edmund's income is $48. Let C represent the units of punk rock video cassettes that he buys. Each one costs $6.
In addition, rather than spending on another commodity, he earns $24 per sack for accepting garbage. Let G represent the number of garbage sacks he accepts. Putting these values in the above equation, we have:
48 = 6C - 24G
Rearranging the equation, we have the final answer, which is:
6C - 24G = 48
Answer:
<em>a) Trade can make everyone better off </em>
Explanation:
In business, it is common to see trades. If the startup agrees to maintain an accounting firm's website in EXCHANGE for the tax returns, that is called trading since you are giving one thing for another.
Hope this helps! :)
Answer:
11.40
32 days
Explanation:
Inventory turnover and days of sales of inventory are examples of activity ratios.
They are used to measure the efficiency of performing daily tasks
inventory turnover = Cost of goods sold/ average inventory
Average inventory = ($118,000 + $110,000) / 2 = $114,000
Inventory turnover = $1,300,000 / $114,000 = 11.40
days of sales of inventory = 365 / inventory turnover = 365 / 11.40 = 32 days
Answer:
Stock markets are one of the factors that affect the economy, but there are others as well. Consumer spending and business investment slows down, which reduces economic growth. Falling interest rates can stimulate economic growth. Fiscal policy decisions also can affect the economy.
