Answer:
amount by which the payment to a factor of production exceeds the supplier's opportunity cost.
Explanation:
Economic rent is payment to a factor of production that exceeds the cost of using the factor of production.
Answer:
Dimitri, his parents, his two brothers, and his mother’s parents live on a farm in southeast Iowa.
Answer:
The percentage decrease in utilization is 83.33%
Explanation:
According to the data, we have the following:
Coefficient of variance, m = 3
Arrival rate, ra = 45 per hour
Service rate, re = 18 per hour per lane
Therefore, in order to calculate the percentage decrease in utilization when one more checkout lane is added to the system, we have to use the following formula:
So, percentage decrease in utilization = ra / (m.re)
= 45 / (3*18) = 0.833
The percentage decrease in utilization is 83.33%
Answer:
The total amount of cash to report in the balance sheet is $14,325
Explanation:
The amount of cash to report in the balance sheet is computed below
Items Amount
Currency located at the company $675
Short-term investments that $1,575
mature within three months
Balance in savings account $7,000
Checks received from customers $275
but not yet deposited
Coins located at the company $100
Balance in checking account <u>$4,700</u>
Total Cash <u>$14,325</u>
