Answer:
a. As a result of the price increase in corn, the supply of corn would increase. At the same time, the amount of acreage used in corn production would increase.
b. The most likely cause of the change in the amount of acreage used in corn production is:
A. The higher price signals suppliers that corn is becoming more valuable.
Explanation:
With corn as the major ingredient for the production of ethanol biofuel the demand and supply of corn increase to match with the increasing price. Suppliers, on their part, increase production by utilizing more acreage of land devoted for corn production. This is the typical interplay between the market forces that drive market equilibrium.
Answer:
(C) Laggards
Explanation:
A laggard in general refers to someone who lags behind or whose progress is slow.
The word "adopter" refers to, someone who adopts and accept something new. Adopters are categorized as, customers based upon their desire to try out new things or accept latest trends.
Five kinds of adopters are described under the said classification namely, innovators, early adopters, early majority, late majority and laggards.
In the given case, Tom belongs to the category of "laggards" as evidenced from his ignorance and unwillingness to accept technological advancements. The acceptance of a smartphone later, has been an outcome of requirement and not his own willingness here.
Asset: 120,000
Year 1: estimated useful life of 10 years. residual value of 10,000
120,000 - 10,000 = 110,000 / 10 years = 11,000 annual depreciation.
Start of year 3.
estimated useful life of 4 years. residual value of 2,000
120,000 - 2,000 = 118,000 / 4 = 29,500 annual depreciation.
29,500 x 2 = 59,000
11,000 x 2 = 22,000
59,000 - 22,000 = 37,000
59,000 + 37,000 = 96,000 / 2 = 48,000 annual depreciation for year 3 and year 4.
Beginning Balance: 120,000
Less: Depreciation:
Year 1 11,000
Year 2 11,000
Year 3 48,000
Year 4 48,000 <u> (118,000)</u>
Residual Value 2,000
Answer:
The term "utilization" denotes the fraction of time a resource is busy. Let's say your workload gradually increases, from you not being busy at all, to the point where you are now busy just less than half the time, meaning your utilization is now approaching 50%. Let's further say that your workload will continue to increase from here. If your workload quadruples from its current level, how many extra people should you hire to be able to handle all the work (assume that any person you hire will be exactly as productive as you)?
4 people
Explanation:
Since the utilization at 50% means half work done then if its quadruples, it means the work rate will increase to 200%. Only 4 people would be able to match same strength as the initial self.
Answer:
CHECK THE EXPLANATION.
Explanation:
A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning whereas a mixed economy is an economy organized with some free market elements and some socialistic elements, which lies on a continuum somewhere between pure capitalism and pure socialism. ... Mixed economies socialize select industries that are deemed essential or that produce public goods.