Answer:
1. 80,000
2. $40 per barrel
Explanation:
1. As we can see from the table provided The equilibrium quantity in this market is 80,000 barrels of heating oil per day, as quantity demanded match quantity supplied
2. As we can see from the table provided The equilibrium price is $40 per barrel as in this cost there is an intersection of quantity demanded and quantity supplied. In other words the equilibrium price and quantity could be find out when the quantity demanded equal to quantity supplied
Answer:
A.1830
B.$1397.75
Explanation:
A.Gross pay
Formula for Gross pay
Gross pay = regular pay + overtime pay
= (40*30)+(14*30*1.5)
=1200+630
= $1830
Part B
B.Net pay
Formula for Net pay
Net pay = gross pay – social security tax – medicare tax – federal income tax
= 1830-(1830*6.0%)-(1830*1.5%)-295
=1830-109.8-27.45-295
= $1397.75
Answer:
The correct answer is option d.
Explanation:
The most effective model to understand the effect of change of a variable on other variable is by assuming other factors to be constant. This simplifies the model and helps in easily understanding the relationship between the two variables.
Though the assumption of other things being constant does not apply in the real world, it is still used as otherwise change in other factors would complicate the model. If several factors change it would be difficult to understand the relationship between variables.
Here, to study the effect of change in the price of grapes on the market for wine, it is necessary to assume other factors such as income, consumer preferences, etc to be constant.
Answer:
The correct answer is (C)
Explanation:
It is very important to understand what consumers want and what they expect from a brand. In order to understand costumer’s preferences and loyalty, various techniques are used from questionnaires to interview. General mills conducted focus groups and estimated the results to better understand customer’s insight by asking various questions related to preferences, taste and expectations.
