Answer:
The Absolute Advantage Theory assumed that only bilateral trade could take place between nations and only in two commodities that are to be exchanged.
Explanation:
In economics, the principle of absolute advantage refers to the ability of a party (an individual, a firm, or a country) to produce more of a good or service than competitors while using the same amount of resources.
Answer:
4,000 m
Explanation:
4,000 million Peruvian sol
Answer:
$1,101.32
Explanation:
Simple interest accounts balances are calculated using the following formula
A = P ( 1 + rt)
where:
A = final account balance
P = starting balance
r = interest rate (annually) percentage divided by 100
t = years
Therefore, we can plug in the values provided in this formula and solve for P which would be the amount that Kremena needs to deposit.
1,250 = P ( 1 + (0.045 * 3))
1,250 = P * 1.135 ... divide both sides by 1.135
1,101.32 = P
Finally, we can see that Kremena would need to deposit a total of $1,101.32 to have the amount that she wants after 3 years.
When buying or selling a futures contract, the trader commits what amount of funds the amount of the initial margin. A futures contract is a legal agreement to buy or sell assets, mainly commodities, at a set price but it will be delivered and paid for later. Based on the definition of a futures contract, the trader will have to commit to the initial amount that was set to be traded when the legal agreement was made.
Answer:
a) Elastic
b) total revenue is increased
Explanation:
a) The demand is elastic over the given range.
The demand is elastic because, with the variation in the price of the brownies the demand for the brownies varied too i.e the demand changes.
b) Now,
if the elasticity is same for the decline in price from $1.00 to $1.50 i.e 300
the revenue will increase as:
when the price was $1.00 the demand is 100
i.e
the total revenue = $1.00 × 100 = $100
now,
when the price decline to $0.50 the demand changes to 300
i.e
the total revenue = $0.50 × 300 = $150
hence,
the total revenue is increased.
