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3 years ago

What is economic studies

Business

2 answers:

azamat3 years ago

8 0

Answer:

economic studies is about economic growth, strong labor market, sound fiscal and monetary policy.

lara [203]3 years ago

3 0

The social science that studies how people interact with things of value; in particular, the production, distribution, and consumption of goods and services

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A survey question that requires a yes or no answer is called a select one:

vaieri [72.5K]

Multiple-choice question

3 0

3 years ago

Read 2 more answers

Hushovd Iron Works has collected the following data for its Thunderbolt line of products: Direct materials standard 15 pounds p

Hitman42 [59]

Answer:

The direct material quantity variance is $10,800 favourable. (the options in the question are not correct).

Explanation:

The direct materials quantity variance represents a difference between what was actually produced and the standard or idea that should have been produced especially with regards to the use of direct materials.

To calculate material quantity variance

Step 1:Calculate the Standard Usage of Material

Formula= (Actual Units of Finished goods Purchased x Standard Price of Material per unit)

= 4,000 units x 15 Pounds

= 60,000 Pounds

This means the standard material usage is 60,000 pounds

Step 2: Now calculate the Direct Material Quantity Variance

Formula= (Standard Material Usage - Actual Material Usage) x The Standard Price per Unit of Material

= 60,000 pounds (computed in step 1) - 40,000 pounds (given in the question)

= 20,000 pounds x $0.54

=$10,800

Since the standard Material is higher than the actual material usage, it means that the answer is as follows;

The direct material quantity variance is $10,800 favourable.

Kindly note that the multiple options in the question above are for a different set of figures and a different question.

6 0

3 years ago

Shawna wins the lottery and her income increases by 60 percent. she used to buy 10 pints of cottage cheese per month and now she

Dmitriy789 [7]

Answer: Her income elasticity of demand for cottage cheese is 0.3333 making it a normal and necessary good.

The income elasticity of demand is given by :

$\mathbf{YED = \frac{percentage change in demand}{percentage change in income}}$

The percentage change in income is given as 60%. We calculate the percentage change in quantity demanded as follows:

$\mathbf{percentage change in quantity demanded = \frac{Q_{1}-Q_{0}}{Q_{0}}}$

$\mathbf{percentage change in quantity demanded = \frac{12-10}{10}}$

$\mathbf{percentage change in quantity demanded = 0.2}\\$

Substituting the value above in the income elasticity demand formula we get,

$\mathbf{YED = \frac{0.20}{0.60}}$

YED = 0.33333

Since the income elasticity is positive, and since Shawna buys more cottage cheese after an increase in income, we can classify this good as a normal good.

Since the income elasticity is between 0 and 1 we can also conclude that cottage cheese is also a essential good or a necessity.

7 0

3 years ago

Do you have to make payments on federal student loans while you’re in school?

fiasKO [112]

Not till ur out I think

7 0

3 years ago

A company would like to evaluate two incentive schemes that take effect once the worker exceeds standard performance. In the fir

Lerok [7]

Answer:

B) plan 1 : worker earning y = x - 0.14 , unit labor = $\frac{x-(0.14)}{x}$

plan 2 : worker earning y = 0.5x + 0.5, unit labor = (0.5x + 0.5) / x

C) At 128%

D ) plan D IS PREFERABLE

Explanation:

In the first case Benefits are split : 30% to worker , 70% to company ( up to 120% ) performance

In the second case benefits 50% go to the worker and 50% go the company

B) The equations for worker earnings and normalized unit labor costs for each scheme

Plan 1 :

y ( percentage earning of worker ) = 1

unit labor cost = Y / 1

y = 0 - 30

unit labor = 0.3 / x

y = x - 0.14 therefore unit labor = $\frac{x-(0.14)}{x}$

plan 2 :

y ( percentage earning of worker ) = 1, y = 0.5x + 0.5

unit labor cost : Y / 1 = (0.5x + 0.5) / x

C ) The point at which the two plans break even

0.5x + 0.5 = x - 0.14

0.5 + 0.14 = x - 0.5x

0.64 = x(1 - 0.5 )

x = 0.64 / 0.5 = 1.28 = 128%

D) The company would prefer plan 1

5 0

3 years ago