Answer:
B. Fewer workers will be needed.
Explanation:
Elastic demand refers to a flexible demand. It is a demand that can increases or decreases due to several factors. If demand is not elastic, it implies it is constant. An increase or decrease in output or price will not affect the quantity demanded.
An increase in productivity means an increase in output per worker. It is the increase in the number of units produced, per hour, per worker. An increase in productivity results in more output in a given period than previously.
If the demand is constant and there is an increase in productivity, only a few workers will be required. The output from the few workers will be high to meet the constant demand.
Answer:
COGS= $598,020
Explanation:
Giving the following information:
Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use.
We need to deduct the inventory used for personal use.
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 67,000 + 610,000 - 77,200 - 1,780
COGS= $598,020
Answer:
The right solution is Option a (-$6,678).
Explanation:
Given that:
Up-front cost,
= $250,000
Expected cash flows,
= $110,000
Assuming cost of capital,
= 12%
Now,
The expected net present value will be:
= 
= 
= 
($)
Answer:
$940,000
Explanation:
The computation of the general and administrative expense is shown below:
= Legal and audit fees + rent for office space × basis
= $580,000 + $720,000 × 50%
= $580,000 + $360,000
= $940,000
In order to find out the general and administrative expense we simply added the legal & audit fees and the rent for office space so that the correct amount could arrive
Answer:
The market for lettuce would be impacted in three ways: labor supply would increase, meaning that lettuce producers can now hire more workers for a lower price.
This cheaper labor would likely increase supply, because more producers would try to enter the market to take advantage of the cheap workers.
Finally, the lower labor costs, and the higer supply, would reduce the price of lettuce, meaning that consumers will be able to buy more lettuce for less money.
