Sorry I’m not really sure of the answer
Answer:
A student spends three hours and $20 at the movies the night before an exam. The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment).
Explanation:
Answer:
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Explanation:
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hope this works out!
Answer and Explanation:
The preparation of the analysis is shown below:
Particulars Retained equipment Replace equipment Net income change
Variable cost $1,560,000 $1,230,000 $330,000
($520,000 × 3 years) ($410,000 × 3 years)
New machine cost $300,000 -$300,000
Net change $30,000
So based on the analysis the old machine should be replaced
Therefore we considered all the information given in the question
Answer:
the quantity demanded for cereals will increase by 6%
Explanation:
as the consumer increase their consumption base on a higher income, a 10% increase in the consumer income will translate to a 6% in the quantity of cereals. That's because we know that:
Δcereals / Δincome = income elasticity
Δcereals / 10% = 0.6
Δcereals = 10% x 0.6 = 6%
