Answer:
a. Tyler says his costs are $25,900, and Greg says his costs are $66,500.
Explanation:
We know accounting cost is the expenditure made on ingredients by the company which is, $25000 that Walter paid for supplies last year. Walter also paid 3 % interest to his uncle,
Interest to the uncle = (30000*3)/ 100
= $900
total accounting cost that an accountant quotes = 25000 + 900
= $25,900
According to the economist explicit cost is $25900. We also include implicit cost in it. If Walter would not be a business then he would be earning $40000 as teacher and $600 interest from savings bank account.
total economic cost according to economist = 25900 + 40000 + 600
= $66,500
Solution:
A) Nominal GDP Growth was:
($11500000.00 - $10000000.00) ÷ $10000000.00 = 0.15 = 15%
B) Economic growth: 15% - 3.00% - 3.25% = 8.75%
C) Inflation: The %Δ price level is also known as inflation. So, in this case, inflation is 3.00%.
D) Real GDP growth : 15% - 3.00% = 12%
E) Per capita GDP growth: 15% - 3.25% = 11.75%
F) Real per capita GDP growth: 15% - 3.00% - 3.25% = 8.75%
When price increases by 10 percent, the quantity supplied increases by nine percent.
<h3>What is the percentage increase in the quantity supplied?</h3>
Price elasticity of supply measures the responsiveness of quantity supplied to changes in price of the good. Price and quantity supplied have a positive relationship.
If the value of the price elasticity of supply is less than one, it means that supply in inelastic. Supply is inelastic if a small change in price has little or no effect on quantity supplied.
Price elasticity of supply = percentage change in quantity supplied / percentage change in price
percentage change in quantity supplied = percentage change in price X price elasticity of supply
0.9 x 10 = 9%
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Answer and Explanation:
a. The current ratio is
We know that
Current ratio = Current Assets ÷ Current Liabilities
= $440,000 ÷ $200,000
= 2.2
Cash $160,000
Marketable Securities $75,000
Account receivable $65,000
Inventory $140,000
Current Assets $440,000
Account Payable $200,000
current liabilities $200,000
b
Quick ratio =( Current assets - inventory ) ÷ Current Liabilities
= ($440,000 - $140,000 ) ÷ $200,000
= 1.5