In the question above, Walt asks for 10 gallons of gas while Jessie asks for $10 worth of gas. In both the cases, the drivers need gas but Walt is concerned about the quantity of gas and Jessie is concerned about the price of the gas.
In case of Walt, the price elasticity of demand is zero because he want 10 gallons of gas regardless of the price of gas per gallon. While in case of Jessie, the price elasticity of demand is one because he wants to buy gas worth $10, no matter what is the price of the gas per gallon.
The answer would be : you can use the skills and information from previous goals.
The previous process would give you various of experience, and give you some information about what could positively and negatively affect your goals. You could rely on that experience and use it as base to achieve your next improvement goals
Answer:
The correct answer is D. New trade
.
Explanation:
The "new" theory of international trade. These theories are based on imperfect competition. Among them are the following:
- Opportunity Cost Theory, by G. Haberler. Work is not the only resource nor is it homogeneous. It is based on the opportunity cost of a good.
- Monopolistic Competition Model, by Paul Krugman.
The "latest" recent developments that incorporate differences between companies. In this category, differences between companies are considered to understand this area. Among them are:
- Conclusions of Bernard, Redding and Schott. Increase the productivity of the entire industry. The expansion of the production of the exporting companies implies an increase in the demand for factors and an increase in the price of the inputs.
- R. E. Baldwin and R. Forslid. Liberalization brings welfare gains.
Answer:
COGS= $807,500
Explanation:
<u>First, we need to calculate the unitary cost for direct material, direct labor, and manufacturing overhead:</u>
direct material= 2*2= $4
direct labor=2.7*20= $54
overhead= 2.7*10= $27
Total unitary cost= $85
<u>Now, the cost of goods sold:</u>
COGS= 85*9,500= $807,500
