Answer:
The answer is A, household income, wealth and product price.
Explanation:
This simply indicates that to be able to identify the combination of goods and services that are affordable from those that are not, the current household income should be considered, the wealth of the household which refers to the current amount of money in the household account and the price of the product.
Answer:
a) attached below
b) P( profit ) = TR(q) - TC(q)
c) attached below
d) -$5000 ( loss )
Explanation:
Given data:
Fixed Cost = $10,000
Material cost per unit = $0.15
Labor cost per unit = $0.10
Revenue per unit = $0.65
<u>a) Influence diagram to calculate profit </u>
attached below
<u>b) derive a mathematical model for calculating profit.</u>
VC = variable cost per unit , LC = per unit labor cost , MC = per unit marginal cost, TC = Total cost of manufacturing , FC = Fixed cost, q = quantity, TR = Total revenue, R = revenue per unit
VC = LC + MC
TC (q) = FC + ( VC * q )
TR (q) = R * q
P( profit ) = TR(q) - TC(q) ------------ ( 1 )
c) attached below
<u>d) If Cox Electrics makes 12,000 units of the new product </u>
The resulting profit = -$5000
q = 12
P = TR ( q ) - TC ( q )
= ( R * q ) - ( Fc + ( Vc * q ) )
= ( 0.65 * 12000 ) - ( 10,000 + ( 0.25 * 12000 )
= -$5200
Answer:
$10,619.05
Explanation:
When sales is made at a tax rate of 5%, the entries to be posted in the proportion of the transaction amount
Dr Cash/ Accounts receivable 105%
Cr Sales revenue 100%
Cr Sales tax 5%
As such, if Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales, it means that the accounts contains 105%, as such, the sales tax which is the amount owed the taxing agency
= 5/105 * $223,000
= $10,619.05
Answer:
exports more than it imports
Explanation:
Trade surplus is when export exceeds import.
Export is the sum total of goods and services sold to other countries. For example, if clothes are sold to China, it constitutes export.
Import is the sum total of goods and services bought from other countries. If a laptop manufactured in China is sold to someone in the US, this is import
Trade deficit is when a country imports more than it exports
