Answer:
The answer is: C) The minimum price sellers are willing to accept to sell an extra unit of a good.
Explanation:
A normal supply curve should move upward from left to right. The expresses the Law of Supply: (given that all other factors remain without change) As the price of a product increases, the quantity supplied should also increase.
For example:
An ounce of gold costs right now $1,500 and 100 ounces of gold are being traded right now at that price. If a new buyer comes in and wants to buy the 101th ounce of gold, then following a normal supply curve, the new buyer would need to pay more for that extra ounce of gold, maybe $1,510.
What the supply curve shows us is that given a certain price Y, a company will be willing to sell X amount of goods. The more demand a product has (X + 1) > X, then the price Y will increase until a new balance is found.
Answer:
$1,500
Explanation:
Given that,
A man wishes to purchase a life insurance policy that will pay the beneficiary $25,000 if the man's death occurs in the next year.
The probability that the company pays nothing is 0.94 and there is 0.06 probability that the company pays $25,000.
So, on an average expected loss is as follows:
= 0.94 × $0 + 0.06 × $25,000
= $1,500
Hence, the minimum amount that he can expect to pay for his premium is $1,500.
Answer: $72,000
Explanation:
Gross income simply refers to the total income that is earned by an individual before taxes and every other deductions are made from the income earned. Gross income include wages, salaries, dividends, rental income, and interest income.
Based on the above explanation, James's gross income from the above will be $72000 which is his actual salary. This means the actual salary consist of every other income since his salary is $66000.
4. As it is not the finance departments job to keep up with reputation and how they look.