Answer:
If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to <u>rise and the equilibrium quantity to stay the same</u>.
Explanation:
Perfectly inelastic demand curve indicates the quantity demanded for the life-saving medicine remains the same or does not change in response to a change in price.
Since a part of the law of supply states that the lower the quantity supplied, the higher the price; a reduction in the supply of the life-saving medicine will increase its price.
The combining effect of the two above will lead to an increase in the equilibrium price while the equilibrium quantity will remain the same as it will not respond to the change in price.
The attached graph explains this more clearly. In the graph, the demand curve DD is used to represent the perfectly inelastic demand curve for the life-saving medicine. Therefore, the quantity remains at q no matter the changes, either increase or decrease, in price. Movement from the supply curve S1 to S2 indicates a reduction in supply of the life-saving medicine which causes an increase in the equilibrium price from Po to P1 while the equilibrium quantity stays at q.
This therefore shows that if the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to <u>rise and the equilibrium quantity to stay the same</u>.
Answer:
A) 14.72 hours
B) An additional worker should be hired since the lost work time is 14.72 hours
Explanation:
Number of machines on manufacturing line = 8
percentage of machine been down = 23%
number of workers capable of running and repairing machines = 2
machine productivity ( per machine ) = 18 units/hour
overhead cost / machine = $713
hourly rate paid per worker = $15
Total number of work hours = 8 hour
A) calculate Total amount of lost worktime
= number of machines * Total number of work hours * 23%
= 8 * 8 * 23% = 14.72 hours
B) An additional worker should be hired since the lost work time is 14.72 hours
Answer:
D. They result in new situations that are not covered by old laws
Explanation:
Answer:
The Journal entry is as follows:
Land A/c Dr. $245,000
Building A/c Dr. $374,000
To Common stock, $8 par value $232,000
To Paid-in capital in excess of par value, common stock $387,000
(To record issuance of the stock in exchange for the land and building)
Workings:
Common stock = $8 × 29,000 shares
= $232,000
In the area of threats to computer systems, electromechanical problems are examples of
errors and accidents.
Examples of these errors and accidents are phishing and sending our e-mails that people believe to be sent from a source they can trust when that is not the case. Both of these examples can harm the computer and the information they are able to retrieve from hacking can be threatening. They can also take over your computer by hacking it once you click any of the e-mails sent.
