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:
B) will; less than
The exhibit shows the breakdown of benefits and costs for a five-person community considering whether to purchase a $5,000 statue of Adam Smith to put in the center of the public square. If simple majority voting determines the outcome, the statue will be purchased, and the total costs are less than the total benefits of the statue.
Explanation:
Attached is the completed question, including the table used for this question;
From the table;
For Milton, Maria and Kenneth the benefits of the statue is more than the cost levied on them(they would be in support)
For Jaime and maynard the benefits of the statue is less than the cost levied on them (not in support)
Since majority voting will determine the outcome, the statue will be purchased (3 in support and 2 against, majority is in support)
Total cost = $5000
Total benefits = $(1525+1315+505+845+1150) = $5340
Therefore, the total cost is less than the total benefits
Answer:
Instructions are below.
Explanation:
Giving the following information:
Each pound of chocolate requires 400 cocoa beans and 0.15 labor hours.
During the year, 480,000 pounds of chocolate was produced.
First, we need to calculate the number of cocoa beans required to produce 480,000 units.
Number cocoa beans= 480,000*400= 192,000,000 cocoa beans.
Now, the hours of labor required.
Direct labor allowed= 480,000*0.15= 72,000 hours
Answer: Option A
Explanation: Determine priorities and set realistic goals
Answer: B. Consumer Financial Protection Bureau
Explanation:
The Consumer Financial Protection Bureau was authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 and was a response to the 2007-2008 financial crisis which was followed by great recession. They are responsible for consumer protection in the finance sector and their functions include; writing and enforcing rules and regulations covering consumer financial products and services including mortgages, credit cards, payday loans, loan servicing, check cashing, debt collection etc.
