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3 years ago

Critically explain Robbins definition of economics?

Business

1 answer:

arlik [135]3 years ago

4 0

Answer:

In his landmark essay on the nature of economics, Lionel Robbins defined economics as. “the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”

Explanation:

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g Peng Company is considering an investment expected to generate an average net income after taxes of $2,700 for three years. Th

nikdorinn [45]

Answer:

Net Present value = -$40,221

Explanation:

The net present value is the sum of the discounted cash-flows over the life of the project from t=0 to t=n.

Year Cash-flow PVIF Present Value

0 (55,500) 1.0000 (55,500)

1 2,700 0.9091 2,455

2 2,700 0.8264 2,231

3 2,700 0.7513 2,029

3 11,400 0.7513 <u>8,565 </u>

Net Present value (40,221)

The salvage value is treated as a cash-flow at the end of year 3 as that's the last year in which the project records a cash inflow. In this question, a negative net present value implies that the project is not profitable, and should therefore not be undertaken.

6 0

3 years ago

During its most recent fiscal year, Raphael Enterprises sold 270,000 electric screwdrivers at a price of $17.10 each. Fixed cost

pantera1 [17]

Answer:

$2,889,000

Explanation:

Sales units = 270,000 units

Sale Price = $17.10

Fixed cost = $729,000

Sales Value = 270,000 * $17.10

Sales Value = $4,617,000

Contribution Margin = Sales- Fixed cost

Contribution Margin = $4,617,000 - $729,000

Contribution Margin = $3,888,000

Variable Cost = Contribution margin- Pretax income

Variable Cost = $3,888,000 - $999,000

Variable Cost = $2,889,000

So, $2,889,000 is the amount that should have been reported as variable costs in the company's contribution margin income statement for the year in question.

8 0

3 years ago

You just received a bonus at your job of $4,000 which you decide to put in a saving account at the local bank. Assume that banks

ioda

Answer:

(A) 22,222.22

(B) 57,142.86

Explanation:

we will divide the deposit by the reserve requirement to know how much will expand the money supply.

4,000/0.18 = 22,222.22

4,000/0.07 = 57,142.86

The reasoning behind this multiplier effect is the following:

you deposit 4,000

the bank leave 18% = 920

And lend the remaninder: 3,080

Then, when this are deposit, again takes the minimun reserve and lend the remainder:

3,080 x 18% = 554.4

3,080 - 554.4 = 2,525.6

This process is repeated giving diminished amount to money available to lend. Thus, finding a limit on the division between fund and reserve requirement.

4,000/0.18 = 22,222.22

6 0

3 years ago

Under what circumstances might Costco have to start paying its workers less?

Oksi-84 [34.3K]

Answer:

If for some reason Costco was to suffer from a lawsuit then it would have no choice but to cut the pay rates of their employees. Also, if there was a depression in the economic that caused a dramatic decrease in the stores profit.

3 0

3 years ago

Read 2 more answers

During the year, Bramble Corp. made an entry to write off a $31400 uncollectible account. Before this entry was made, the balanc

victus00 [196]

Answer:

The accounts receivable amount expected to be collected after the write-off entry is $378,500

Explanation:

Allowance for bad debt = $34,500

Bad debt written off = $31,400

Credit balance in allowance for bad debts = Allowance for bad debt - Bad debt written off

= $34,500 - $31,400

= $3,100

The balance in receivables account = ($413,000 - $31,400) - ($34,500 - $31,400)

= $381,600 - $3,100

= $378,500

8 0

3 years ago

Critically explain Robbins definition of economics?​

Critically explain Robbins definition of economics?