Answer:
a. 0.60
Explanation:
The formula to compute the price elasticity of supply using the midpoint formula is shown below:
= (change in quantity supplied ÷ average of quantity supplied) ÷ (percentage change in price ÷ average of price)
where,
Change in quantity supplied is
= Q2 - Q1
= 30 - 20
= 10
And, average of quantity supplied is
= (30 + 20) ÷ 2
= 25
Change in price is
= P2 - P1
= $20 - $10
= $10
And, average of price is
= ($20 + $10) ÷ 2
= 15
So, after solving this, the price elasticity of supply is 0.60
Answer: Variable cost; should be considered
Explanation:
For a nail salon, the costs associated with the purchase of nail polish and other products like polish remover and disposable flip flops are examples of variable costs. These should be considered when building a MCS.
Variable costs are the costs that varies with production. They are the opposite of fixed costs which are fixed. The nail polish and other products like polish remover and disposable flip flops are variable costs because the amount that'll be bought depends on the available customers and therefore isn't fixed.
Answer:
The Solution is given below in the
Explanation:
Requirement 1: Solution
Entries Debit Credit
Employee Benefits Expense $55,500
Medical insurance payable $45,500
Retirement program $10,000
Requirement 2: Solution
As the retirement program money is paid after 5 years it should be classified as a non-current liability as per the International accounting standard(Presentation of financial statements).
Answer:
they call their Federal Reserve District Bank, which delivers the requested amount.
Explanation:
The Federal Reserve System (popularly referred to as the 'Fed') was created by the Federal Reserve Act, passed by the U.S Congress on the 23rd of December, 1913. The Fed began operations in 1914 and just like all central banks, the Federal Reserve is a United States government agency.
Generally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America, which are commonly referred to as Federal Reserve District Bank.
The Fed provides banking services to all the commercial banks in the country because the Federal Reserve is the "lender of last resort."
Hence, when commercial banks such as the regular banks in societies need more Federal Reserve Notes, they call their Federal Reserve District Bank to deliver the requested amount to them.
Additionally, currency in circulation includes all of the US paper currency (dollar bill) that are available in the country while reserves refers to the minimum deposits being held for the U.S Treasury and depository financial institutions by the Fed.
