Answer:
since the price elasticity of demand for students is -4, the the price charged to them should be:
price = [-4 / (-4 + 1)] x $6 = (-4 / -3) x $6 = $8
since the price elasticity of demand for faculty is -2, the the price charged to them should be:
price = [-2 / (-2 + 1)] x $6 = (-2 / -1) x $6 = $12
Answer:
$183,200
Explanation:
Given that,
Direct labor = $86,000
Total current manufacturing costs = $381,000
Manufacturing overhead is applied to production:
= 130% of direct labor cost
= 1.30 × $86,000
= $111,800
Total manufacturing costs = Direct material + Direct labor + Manufacturing overhead.
$381,000 = Direct material + $86,000 + $111,800
Direct material = $381,000 - $86,000 - $111,800
= $183,200
Therefore, the amount of direct materials used in production is $183,200.
Answer: Externalities occur when the actions of an individual or group spill over onto others, without their consent.
Explanation:
By definition, an Externality is the effect of an action by an individual or group that spills over onto third parties without their consent.
Externalities can be either negative or positive. A positive externality for instance would be bees from a bee farm pollinating flowers in the environment.
A negative externality would be air pollution from China for instance contributing to global warming effects experienced in Northern Africa.
Answer: $449.53
When Shawna wrote a check for $23.77, the same amount was deducted from her bank account, decreasing her balance to $99.55. When she deposited two checks totaling $349.98, the amount was added, making her new balance increased to $449.53.
