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marysya [2.9K]
3 years ago
7

An artist buys scrap metal from a local steel mill as a raw material for her sculptures. Last​ year, she purchased $7,000 worth

of scrap metal. With the steel she produced 10 authentic sculptures that she sold for $1,000 each to a local art dealer. The art dealer then sold all of the sculptures to art collectors for an average of​$1,200 each.
The total value added of the art dealerart dealer is $__. ​(Enter your response as an​ integer.)
Business
1 answer:
Lyrx [107]3 years ago
8 0

Answer:

$2000

Explanation:

The total value added by the art dealer would equal the amount of profit that the art dealer made off of the sale of all the sculptures created by the artist. Therefore to calculate this we must subtract the amount that the artist sold each sculpture for ($1000) from the amount that the art dealer sold each sculpture for ($1200) and then multiply the remainder by the amount of sculptures (10) like so:

$1200 - $1000 = $200

$200 * 10 = $2000

Therefore the total added value of the art was $2000.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Gekata [30.6K]
These results are evidence of "<span>the endowment effect".</span>

The endowment effect<span>, in behavioral finance<span>, portrays a situation in which an individual qualities something that they officially possess more than something that they don't yet claim. Studies have indicated over and again that individuals will esteem something that they effectively claim more to a comparable thing they don't possess. It doesn't make a difference if the thing being referred to was bought or gotten as a gift, the impact still stays.</span></span>

5 0
3 years ago
5. What is one of the main benefits of volunteering with community organizations while you are still in high school?
LenaWriter [7]

\huge{\textbf{\textsf{{\color{pink}{An}}{\red{sw}}{\orange{er}} {\color{yellow}{:}}}}}

Ur answer is... 4) You will be paid for your time and give you the benefit of saving money for your career education and training

ig this is the best benefit...

  • thanks
  • Hope it helps.
4 0
2 years ago
Total revenue for producing 8 units of output is $48. Total revenue for producing 9 units out output is $63. Given this informat
Firlakuza [10]

Answer:

D. Marginal revenue for producing the 9 units is $15

Explanation:

TR(8) = $48

TR(9) = $63

MR(9) = TR(9) - TR(8) = $63 - $48 = $15

AR(8) = TR(8) / 8 = $48/8 = $6

AR(9) = TR(9)/9 = 63/9 = $9

Note: TR=Total revenue, AR= Average Revenue and MR=Marginal Revenue

So, the only correct option is option d

8 0
2 years ago
Wagner Assets Management Group holds 3 stocks in their investment portfolio. The amount of the investment and beta of each stock
ryzh [129]

Answer:

-0.5

Explanation:

Stock  Investment (W)    Beta (B)        W*B

A            200,000             1.50             300,000

B            300,000               X                300,000X

C            500,000             1.20             600,00

            1,000,000                                 900,000+300,000X

<em>Using the formula of Beta of Portfolio to find out X </em>

0.75 = 900,000 + 300,000X / 1,000,000

0.75 * 1,000,000 = 900,000 + 300,000X

750,000 = 900,000 + 300,000X

750,000 - 900,000 = 300,000X

-150,000 = 300,000X

X = -150,000 / 300,000

X = -0.5  

So, the beta of stock B is -0.5.

6 0
2 years ago
Which of the following is NOT regulated by the government?
Olin [163]

Answer:

Funding for the retraining of workers

Explanation:

Funding for the retraining of workers is a function internal to an organization that has to do with the retraining of workers towards a continuous profession development in upgrading and acquisition of new skills .

While other options in the question are under the regulation of the government, the funding for retraining of workers is left at the discretion of the employer or organization. This is why we have discrepancies in the approaches of different organization to this function.

7 0
3 years ago
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