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iren [92.7K]
3 years ago
10

Ginny is a college student who lives in Detroit and provides math tutoring for extra cash. At a wage of $50 per hour, she is wil

ling to tutor 10 hours per week. At $65 per hour, she is willing to tutor 19 hours per week. Using the midpoint method, the elasticity of Ginny’s labor supply between the wages of $50 and $65 per hour is approximately , which means that Ginny’s supply of labor over this wage range is .
Business
1 answer:
weeeeeb [17]3 years ago
7 0

Answer:   Approximately 2.37

Elastic over this range  

Explanation: As we know that, as per the midpoint method elasticity of supply is calculated as :-

Elasticity\:=\:\frac{Q2-Q1}{P2-P1}\times \frac{P2+P1}{Q2+Q1}

where,

Q2 = 19

Q1 = 10

P2 = 65

P1 = 50

now, putting the values into equation we get :-

Elasticity\:=\:\frac{19-10}{65-50}\times \frac{65+50}{10+19}

= 2.37

So, we can say that over this range Ginny's supply is elastic .

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The credit terms offered by Neutron Enterprise are 2/10, n/30. Neutron sold goods on account to James Company on Jun 14 for $300
Pie

Answer:

Cash A/C            Debit                    $300

  To James company                                  $300

(Amount collected from James Company for credit sale)

Explanation:

Cash A/C            Debit                    $300

  To James company                                  $300

(Amount collected from James Company for credit sale)

Note: The terms here provided that, 2/10, n/30.

Which means that 2% discount if payment made within 10 days, and total 30 days credit allowed.

Here the sales were made on 14 June, and payment received on 27 June that is it took more than 10 days as 10 days complete on 24 June.

Therefore, no discount will be offered.

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3 years ago
On average, 35% of the sales on account are collected in the month of sale, 40% are collected in the month following sale, 10% a
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Answer:

35% of sales(say $2,000,000) in April

$700,000

Explanation:

Step one :

Assuming that the sales made for April is $2,000,000

According to the conditions in which money is collected 35% of sales made for a month is collected for the month

For april the expected amount

=35/100*2,000,000

=$700,000

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3 years ago
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Helps perform calculations and other manipulations of data
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Suppose total benefits and total costs are given by B(Y) = 100Y − 8Y2 and C(Y) = 10Y2. Then marginal benefits are: 14) ______
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Answer:

C) 100 − 16Y

Explanation:

The computation of the marginal benefit is shown below:

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Explanation:

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