Answer:
Zero
Explanation:
Supply is buyers ability & willingness to sell at given price, period of time.
Elasticity of Supply is change in supply by buyers, in response to price change.
Supply Elasticity is as undermentioned in following cases :-
- Zero (Perfectly Inelastic) - Quantity supplied doesn't change with price change.
- Inelastic - Quantity supplied change < price change.
- Elastic - Quantity supplied change > price change
- Infinite (Perfectly Elastic) - Quantity supplied responds infinitely high to price change, prices stay constant.
Given : Fishermen must sell all his daily catch before it spoils; means he will have to sell daily produce <u>irrespective</u> of any price change (rise / fall). So, the elasticity of supply is zero.
Answer:
Provide enterprise leadership is the correct answer.
Explanation:
Answer:
$10,900
Explanation:
The computation of net operating income (loss) for the month under variable costing is shown below:-
Sales = Selling price × Units sold
= $116 × 8,600
= $997,600
Variable cost = (Direct material + Direct labor + Variable manufacturing overhead + Variable selling and administrative expenses) × Units sold
= ($19 + $61 + $7 + $11) × 8,600
= $98 × 8,600
= $842,800
Contribution Margin = Sales - Variable cost
= $997,600 - $842,800
= $154,800
Fixed cost = Fixed manufacturing overhead + Fixed selling and administrative expense
= $135,000 + $8,900
= $143,900
Net operating income = Contribution Margin - Fixed cost
= $154,800 - $143,900
= $10,900
Therefore for computing the net operating income we simply applied the above formula.
Tomatoes are an input in the production of ketchup, and ketchup and mustard are substitutes. An increase in the price of tomatoes will LOWER the total surplus in the market for mustard
Answer:
8 million
Explanation:
I solved the question a short while ago
Module 4
Fundamentals of Finance