Answer:
85 days
Explanation:
The computation of the number of days that takes for selling the inventory is shown below:
As we know that
Days sells to inventory = 365 days ÷ inventory turnover ratio
where,
Inventory turnover ratio is
= Cost of goods sold ÷ inventory
= $2,240 ÷ $520
= 4.31 times
Now the days sells to inventory is
= 365 ÷ 4.31
= 85 days
Answer:
The United States was the most competitive economy in 2017.
Explanation:
According to the World Economic Forum, during 2017, the US had the second most competitive economy in the world, Switzerland was number 1. The US did rise to the number 1 seat in 2018, but if fell again to the number 2 seat in 2019 when Singapore became the most competitive economy.
Answer:
60 pizzas
40 pizzas
Explanation:
Marginal product measures the change in output as a result of a change in input by one unit
Marginal product = change in output / change in input
Marginal product for the 4th worker
Change in output = 360 - 300 = 60 pizzas
Change in input = 4 - 3 = 1 worker
Marginal product = 60 / 1 = 60
Marginal product for the 5th worker
Change in output = 400 - 360 = 40 pizzas
Change in input = 5 - 4 = 1
Marginal product = 40 / 1 = 40
It can be seen that marginal product decreased from 60 to 40 when the 5th worker was added. This illustrates diminishing marginal returns.
The law of diminishing returns says as more units of a variable input is added to a fixed income of production, output might increase at a point but after some time total output would increase at a decreasing rate and marginal product would be decreasing.
Yeah, actually probably. I bet.
