Answer: <em>Competition is an effect of scarcity.</em>
Explanation:
In economical and dismal sense scarcity and competition are correlated, as in they are directly proportional to each other. In today's era where, the population is growing at an exponential rate and the food supply and other resources are either growing at an arithmetical rate or depleting. Therefore there is a scarcity of resources and thus the competition is increasing proportionally.
Answer:
c) -$877,874d
Explanation:
Net present value is the present value of after tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in :
Year 0 = $-2,225,000
year 1 = $375,000
year 2 = $425,000
year 3 = $400,000
year 4 = $475,000
I = 9%
NPV = $-877,873.94
To consider this question, we must consider the relationship between the resources and their costs.
Labor: The price that companies pay for labor is the wage. The businesses paid $68 billion for labor
Land: The price of land that business pay is rent (assuming they do not own the land). The business paid $14 billion for land.
Capital: The cost of using capital is the interest paid on that capital. The businesses paid $24 billion for using capital.
This leaves entrepreneurial ability. It is more difficult to discern the payment for this resource, as it is less tangible and thus has a less direct cost. From the payment for other resources and the total payment to households, we can infer the payment for entrepreneurial ability:
120 - 68 - 14 - 24 = $14 Billion
Answer:
0.7589
Explanation:
P(34000<=x<=38000)
P(34000-50000 / 12000) <= z <= 38000-50000 / 12000)
P( -16000/12000) <= z <= -12000/12000)
P(z<=-1.33)- p( z<=-1.00)
=0.9176 - 0.1587 (using standard normal table)
=0.7589
