How do factors of production have alternative uses

____ is a pattern of basic assumptions that is developed by a group as it learns to cope with problems of external adaptation an

Eduardwww [97]

Answer:

d) Organizational culture

Explanation:

Organization culture is the assumptions, beliefs, values, and ways of interactions that make an organization unique. It the organization's established ways of doing things.

Organization culture will include experiences, expectations, and philosophies that guide its members. Members of an organization express culture by the way they interact internally and with the outside world. Culture incorporates customs, attitudes, written and unwritten rules of an organization.

7 0

4 years ago

James has a marginal tax rate of 24%. He suddenly realizes that he neglected to include a $7,000 tax deduction. How will this ov

Alex17521 [72]

Answer:

hmhgdmthde

Explanation:

7 0

3 years ago

If the domestic demand curve is Equal 20p Superscript negative 0.5, the domestic supply curve is Equal 5p Superscript 0.5, and

pishuonlain [190]

Answer:

$52

$ 1.33

consumer price will increase
consumer surplus will decrease
import will decrease
reduced export
portends gloom for the general outlook for the economy

Explanation:

Given domestic demand curve, S(p) = 20p⁻⁰°⁵

the domestic supply curve S(p)= 5p⁰°⁵

world price is $7.00

using calculus to determine the changes in consumer surplus

by consumer surplus means in this case supply exceeds demand

we establish the equilibrium point where the supply and demand functions meet or are equal

solving 20p⁻⁰°⁵ = 5p⁰°⁵

20/5 = p⁰°⁵/p⁻⁰°⁵

4 = p⁰°⁵⁺⁰°⁵

4= p = q which is the quantity produced

consumer surplus = maximum price willing to pay - Actual price

= ∫⁴₀ dp dp - p* q

= ∫⁴₀20p⁻⁰°⁵ dp- 7* 4

= 20∫⁴₀p⁻⁰°⁵ dp -28

= 20/0.5 p⁰°⁵- 28

= 40 *4⁰°⁵ - 28 = $52

producer surplus = it is a measure of producer welfare. It is measured as the difference between what producers are willing and able to supply a good for and the price they actually receive

thus producer surplus = p* q - ∫⁴₀ d(s) dp

= 7 * 4 - ∫⁴₀ 5p⁰°⁵ dp

= 28 - 5 ∫⁴₀ p⁰°⁵ dp

= 28 -5 *2/3 p¹°⁵

= 28 -5 *2/3 4¹°⁵

=$ 1.33

welfare from eliminating free trade

consumer price will increase
consumer surplus will decrease
import will decrease
reduced exports

portends gloom for the general outlook for the economy

5 0

4 years ago

The cost for a carton of milk is $3, and it is sold for $5. When the milk expires, it is thrown out. You also know that the mean

svetlana [45]

Answer:

a) $3

b) $2

c) 1449

Explanation:

Given:

The cost for a carton of milk = $3

Selling price for a carton of milk = $5

Salvage value = $0 [since When the milk expires, it is thrown out ]3

Mean of historical monthly demand = 1,500

Standard deviation = 200

Now,

a) cost of overstocking = Cost for a carton of milk - Salvage value

= $3 - $0

= $3

cost of under-stocking = Selling price - cost for a carton of milk

= $5 - $3

= $2

b) critical ratio = $\frac{\textup{cost of under-stocking }}{\textup{cost of overstocking + cost of under-stocking }}$

or

critical ratio = $\frac{\textup{2}}{\textup{3 + 2}}$

or

critical ratio = 0.4

c) optimal quantity of milk cartons = Mean + ( z × standard deviation )

here, z is the z-score for the critical ration of 0.4

we know

z-score(0.4) = -0.253

thus,

optimal quantity of milk cartons = 1,500 + ( -0.253 × 200 )

= 1500 - 50.6

= 1449.4 ≈ 1449 units

4 0

3 years ago

A firm has estimated the following demand function for its product:

Rom4ik [11]

Answer:

(i) Q=300

(ii) Elasticity of Demand=-3.33 (elastic)

(iii) Income Elasticity= 2.5 (normal good)

(iv) Advertising Elasticity: 1.5

Explanation:

The Demand function is given by

$Q=100-5P+5I+15A$

(1) To solve (i) we need to replace P = 200, I = 150, and A = 30 in the demand equation:

$Q=100-5(200)+5(150)+15(30)=300$

(2) To find the price elasticity (how much quantity demanded changes with price) we use the point price elasticity formula

$\eta_{Price}=\frac{\Delta Q}{\Delta P}\frac{P}{Q}$

From the above equation we get: $\frac{\Delta Q}{\Delta P}=-5$

Replacing in the elasticity formula

$\eta_{Price}=-5\frac{200}{300}=|-3.33|>1$

in absolute terms the elasticity is bigger than one so it is an elastic demand.

(3) For income elasticity (how much quantity demanded changes with income), we proceed similarly as above. But the derivative is respect to income

$\eta_{Income}=\frac{\Delta Q}{\Delta I}\frac{I}{Q}=5\frac{150}{300}=2.5>1$ [/tex]

Which is bigger than one, denoting this is a normal good because it's bigger than one.

(4) Advertising elasticity (how much quantity demanded changes with expenditures in advertising), we proceed as before

$\eta_{advertising}=\frac{\Delta Q}{\Delta A}\frac{A}{Q}=15\frac{30}{300}=1.5$

3 0

3 years ago