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xenn [34]
3 years ago
12

Nathan and Lucas own separate tree farms that produce timber. Both farms are the same size and have the same resources available

. Compared to Lucas, Nathan grows his trees closer to one another and as a result, produces more timber. Which of the following statements is true?
a. Lucas has a comparative advantage in producing timber.
b. Lucas has an absolute advantage in producing timber
c. Nathan has a comparative advantage in producing timber.
d. Nathan has an absolute advantage in producing timber.
e. Neither Nathan nor Lucas has an absolute advantage.
Business
2 answers:
AleksandrR [38]3 years ago
8 0

Answer:

The correct answer is letter "C": Nathan has a comparative advantage in producing timber.

Explanation:

Comparative advantage can be defined as the advantage an individual, institution or country has over competitors by producing at lower opportunity costs. Having a comparative advantage does not imply the individual or country has an absolute advantage which implies industry rivals are unlikely to imitate the comparative-advantage company due to factors such as uniqueness of the raw materials or processes in production.

Thus, <em>as Nathan can grow trees closer to each other than in Lucas's farm, Nathan has a comparative advantage over Lucas since possessing farms the same size and counting on the same resources, Nathan can grow more trees and produce more timber.</em>

Mekhanik [1.2K]3 years ago
4 0

Explanation:

c. Nathan has a comparative advantage in producing timber.

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garri49 [273]

Answer:

  a) 120 skiers per day

  b) 6.25% increase in revenue

Explanation:

a) If the average skier stays 10 days, the average turnover is 1/10 of the skiers per day, or 1200/10 = 120 skiers per day.

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b) For a stay of n days, the average skier spends ...

  50 +(n-1)30 = 20 +30n

and the average spending per day is ...

  (20 +30n)/n = (20/n) +30

So, for a 10-day stay, the average skier spends in restaurants ...

  20/10 +30 = 32 . . . . per day

And for a 5-day stay, the average skier will spend ...

  20/5 +30 = 34 . . . . per day

The change in restaurant revenue is expected to be ...

  (34 -32)/32 × 100% = 2/32 × 100% = 6.25%

Restaurant revenues will be 6.25% higher compared to last year.

8 0
3 years ago
Which of these is an example of an entrepreneur?
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Option A. Jessie has the idea for a new phone app so he spend his money to set up a business
8 0
3 years ago
_____, which are websites that provide virtual communities in which people with shared interests can communicate, are common sou
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Answer:

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5 0
3 years ago
In its income statement for the year ended December 31, 2022, Whispering Winds Corp. reported the following condensed data. Oper
vagabundo [1.1K]

The Multiple Income Statement is $127,000.

<h3>Multiple Income Statement</h3>

Multiple Income Statement For the Year Ending Dec. 31, 2022

Particulars Amount ($)

Net sales 2,199,000

Less: Cost of goods sold 1,255,000

Gross profit 944,000

(2,199,000-1,255,000)

Less: Operating expenses 719,000

Operating income 225,000

(944,000-719,000)

Other revenue:

Interest revenue 32,000

Other expenses and losses:

Interest expense 70,000

Add: Loss on disposal of plant assets 16,000

Total other expenses and losses 86,000

(70,000+18,000)

Income before tax  171,000

(225,000+32,000-86,000)

Less: Income tax expense 44,000

Net income 127,000

(171,000-44,000)

Therefore the Multiple Income Statement is $127,000.

Learn more about Multiple Income Statement here:brainly.com/question/14984579

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5 0
2 years ago
The Company deposits $6,900 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $6,900 plus ear
astra-53 [7]

Answer:

$8750.87

Explanation:

This is compound interest problem. The formula used to solve this would be:

F=P(1+r)^t

Where

F is the future value (what we want, after 3 years)

P is the initial value (given 6900)

r is the rate of interest per period

here, 8% per year, so 8/4 = 2% per period (since compounded per quarter)

t is the time (3 years and compounding per year so times of compounding is 3*4 = 12), so t = 12

Substituting, we get our answer:

F=P(1+r)^t\\F=6900(1+0.02)^{12}\\F=6900(1.02)^{12}\\F=8750.87

<u>There will be about $8750.87 at the account at the end of 3 years!</u>

8 0
3 years ago
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