Answer:
a. is entitled to have the water body maintained in its natural state by other owners.
Explanation:
The Riparian law is usually applied the eastern states of the United States to determine who is legally allowed to use water.
Riparian law states that the owner of a property adjacent to a body of water has the right to use it.
The concept of natural flow states that each Riparian land owner can use water for domestic use and no more. If a owner uses it for other purposes, other Riparian owners can take legal action against them.
Each riparian land owner is supposed to use what they need for domestic purpose so that natural flow is maintained for other riparian users.
Answer: b. Only Joe’s and Jim’s grocery store purchases are included in GDP.
Explanation:
The Gross Domestic Product is a measure of economic productivity and is a sum of the market value of all goods produced in an economy in a certain period.
Produce from Jim's garden will not be included as GDP disregards goods produced at home for consumption purposes as those would be too hard to measure. Those goods sold in the market however are included which is why Joe and Jim's grocery store purchases will be included.
Answer:
(a) $3.48 per unit
(b) 64.2%
Explanation:
(a) Anthony’s contribution margin per unit:
= Selling price per unit - Variable cost per unit
= $5.42 - $1.94
= $3.48 per unit
Therefore, the Anthony’s contribution margin per unit is $3.48 per unit.
(b) Anthony's contribution margin ratio:
= (Contribution Margin Per unit ÷ Selling Price per unit) × 100
= ($3.48 per unit ÷ $5.42 per unit) × 100
= 0.6420 × 100
= 64.20%
Therefore, the Anthony's contribution margin ratio is 64.2%.
<u>Answer:</u> Shoe cut should focus on running shoes.
<u>Explanation: </u>
The resources of the company can be fully utilized when they are on the PPF ( Production Possibility Curve). Additional goods cannot be produced without foregoing another product. For the study we can consider that in combination B 12 units of running shoes are produced and 2 units of hiking boots are produced.
If the hiking boots are foregone then 3 units of running shoes can be produced additionally. The maximum capacity for running shoes is 15 and that of hiking shoes is only 10. So the Shoe Hut should focus on producing running shoes insert.