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blsea [12.9K]
4 years ago
7

When milk prices increased in 2008, one milk consumer stated that the reason he cut down on milk consumption is so that he could

drive his car. this action represents a:?
Business
1 answer:
Lera25 [3.4K]4 years ago
4 0
<span>The action in 2008 in which milk prices increased and one milk consumer stated that the reason he cut down on milk consumption is so that he could drive his car represents </span>movement along the demand curve for milk.
<span>Movement along the demand curve usually occurs when the manufacturer raises or lowers the price of the product.</span>
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Bob bought some land costing $16,390. today, that same land is valued at $46,817. How long has bob owned this land if the price
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Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

Given that land was bought by Bob for $16390, the price is increasing at the rate of 6%, price of land today is $46817.

We are required to find the time for which Bob need to own the land so that the price of the land is $46817 today.

Compounding means calculating amount on the principal and the amount added interest.

Rate of increasing the price of land be 6%.

Price when Bob bought the land=$16390.

Price of land today=$46817.

It is like compounding of interest and the sum is calculated as under:

S=P*(1+r)^{n}

In the above equation P is theamount at beginning,r is rate of increasing and n is the number of years.

46817=16390(1+0.06)^{n}

46817/16390=(1.06)^{n}

(1.06)^{n}=2.8564

(1.06)^{n}=(1.06)^{18}  (Approximately)

From both the sides we will get n=18.

Hence Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

Learn more about compounding at brainly.com/question/2449900

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4 0
2 years ago
job ________ involves division of an organization’s work among its employees and application of motivational theories to jobs to
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3 years ago
A product has annual demand of 100,000 units. The plant manager wants production to follow a four-hour cycle. Based on the follo
vova2212 [387]

Answer: The options are given below:

A. $18.00

B. $1,036.80

C. $2.00

D. $7.20

E. $64.00

The correct option is D. $7.20

Explanation:

From the question above, we were given:

Annual demand = 100,000 units

Production = 4 hour cycle

d = 400 per day (250 days per year)

p = 4000 units per day

H = $40 per unit per year

Q = 200

We will be using the EPQ or Q formula to calculate the cost setup, thus:

Q = √(2Ds/H) . √(p/(p-d)

200=√(2x400x250s/40 . √(4000/(4000-400)

200=√5,000s . √1.11

By squaring both sides, we have:

40,000=5,550s

s=40,000/5,550

s=7.20

4 0
4 years ago
You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use
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Answer:

$17,167

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Present value is = 2,221

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<em>The present value of the payment options is =</em>

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<em>Therefore the amount of cash the car dealer would charge is $17,167</em>

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On average, companies that create plans have larger profits and grow much faster than companies that don't. true false
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False - because not every business plans work
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