Answer: Answer is 1
Explanation:
In a market economy, a high price is a signal for producers to supply more and consumers to buy less.
Answer:
1. Processing time:
Processing time = Theoretical time
Processing time is there for 6 minutes
Non processing time = Actual cycle time - processing time
= 7.35 - 6
= 1.35 minutes
2. Manufacturing Cycle Efficiency (MCE):
= Processing time / Actual cycle time
= 6 / 7.35
= 81.6%
Economic profit refers to the profit earned by deducting the implicit cost and the explicit cost from the total revenue.
Economic Profit = Total revenue - (Explicit cost + Impllicit Cost)
where Total Revenue = $100,000
Explicit Cost = $2000 + ($25000*10%) = $4500
Implicit Cost = $70000 + $10000 = $80000
Economic Profit = $100,000 - ($4,500 + $80,000)
Economic Profit = $100,000 - $84,500
Economic Profit = $15,500
Hence, Sid's Economic Profit is equal to $15,500
For each of the following goods that are imported in the United States, abundant input is the only source of comparative advantages that accounts for that country's comparative advantage. Therefore, the option A holds true.
<h3>What is the significance of a comparative advantage?</h3>
A comparative advantage can be referred to or considered as a situation in which a producer has an economic advantage over the other in a number of economic activities. At least two economies need to be a part of the society for the occurrence of a comparative advantage.
Abundant inputs is one of the key sources of comparative advantage. It is considered as a source that can account for another country's comparative advantage, when it lets the United States import its goods.
Therefore, the significance regarding comparative advantage has been aforementioned.
Learn more about comparative advantage here:
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Answer:
Option (C) is correct.
Explanation:
Given that,
Megan’s balance sheet shows:
Total assets = $27,600
Total debts = $32,500
Net worth is the difference between total assets and total liability.
Net worth = Total assets - Total debts
= $27,600 - $32,500
= -$4,900
Therefore,
Megan’s balance sheet shows the negative worth of $4,900.
