Answer:
The correct answer is (B)
Explanation:
Economists are helpful to predict future economic and financial phenomenon’s. In that regard, statistical or mathematical models are considered more appropriate and it is said that they provide better results. In the above scenario, Syd is attempting to construct an economic model for that, the suitable technique to examine the cause and effect to predict the outcomes are mathematical functions. The reason is that mathematical models are more appropriate to predicts cause and effect.
Answer: The selling price would be $378,240.
Answer:
A. How much time would it take the two students to complete the project if they divide the two tasks equally?
- James needs 10 hours to complete half the task and Jane needs 16 hours to do her part = total work 26 hours
B. How much time would it take the two students to complete the project if they use comparative advantage and specialize in calculating or preparing slides?
- If they specialize, then Jane should do the calculations (12 hours) and James should prepare the slides (10 hours) = total work 22 hours
C. If James and Jane have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides?
- Yes, Jane should pay James so that he does the whole work all by himself. Since James opportunity cost is $5 per hour, his total economic cost of doing the work is $100, and half of that is $50. Jane's economic cost of doing her part is $60 (= 12 x $5), so if she pays any amount lower than $60 and equal or higher than $50 to James, then they would both win.
Explanation:
50 powerpoint slides
James needs 10 hours to do the calculations and 10 hours to prepare the slides = 20 hours total / 2 = 10 hours
Jane needs 12 hours to do the calculations and 20 hours to prepare the slides = 32 hours total / 2 = 16 hours
James's opportunity cost of doing the calculations or preparing the slides is 10 / 10 = 1
Jane's opportunity cost of doing one hour of calculations is 20 / 12 = 1.67 hours of preparing slides.
Jane's opportunity cost of doing one hour of preparing slides is 12 / 20 = 0.6 hours of calculations.
Answer: If interest rate was 4%= $180.09. If interest rate was 8%= $317.22
Explanation:
Assuming that the aboriginal trackers were promised the $100 at the beginning of the year 1880 and the claim was also made at the beginning of the year 1995.
Number of years from 1880-1995 = 15 years
If the interest rate was 4%
= 100*(1+4%)^15
= $180.09
If the interest rate was 8%
= 100*(1+8%)^15
= $317.22
Comparing and contrasting sets of data in order to rank them and make a decisions best defines as evaluation. In evaluation, you need to rank your employees for the compensation or salary increase that they will receive. The most performer will receive the biggest increase since he has done bigger.
