The problem could be solved by using the future value (FV) formula: FV = PV × (1 + r)ⁿ, where;
PV = Present value
r = interest rate
n period
So, substituting the formula with the value:
FV = $38,600 × (1 + (.03÷52))⁵²
≈ $39,775.20
Note that the interest is divided by 52 since it has to be compounded weekly.
So, the weekly payment will amount to $764.91 ($39,775.20÷52).
The correct answer is that firms with market power will produce less and charge a higher price than what would be socially optimal.
Answer:
True.
Explanation:
Division of work is the act of "dividing the work equally among a group of people."
<span>meowner’s policy, installing smoke detectors helps to avoid risk. create risk. reduce risk. </span>
