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3 years ago

The fixed exchange rate system was used until 1971. Question 3 options: True False

Business

2 answers:

PilotLPTM [1.2K]3 years ago

4 0

Answer:

True

Explanation:

The fixed exchange rate came to an end in 1971 in the US.

Before 1971, the US currency value was tied to an ounce of gold. In 1971 the US economy was undergoing a recession. The US authorities bought all the gold value backing the dollar to end the recession. The dollar became a fiat currency.

The year also marked the beginning of the floating exchange system for the dollar.

GarryVolchara [31]3 years ago

3 0

The answer is True :)

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3 years ago

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Answer:

1) $26,916

2) $7

3) Cost = $7 × Number of units + $18,516

4) $35,888

5) $29,716

6) $6,172

Explanation:

Given:

The company's average cost per unit = $22.43

Number of units produced = 1,200

1) Total cost of producing 1,200 mailbox = Per unit cost × Number of units

= $22.43 × 1,200

= $26,916

2) Fixed cost = $18,516

Now,

Total cost = Fixed cost + variable cost

$26,916 = $18,516 + variable cost

variable cost = $26,916 - $18,516 = $8,400

Per unit variable cost = $\frac{\textup{Total variable cost}}{\textup{Total units produced}}$

= $\frac{\textup{$8,400}}{\textup{1200}}$

= $7

3) Cost = Total variable cost + Total fixed cost

Cost = $7 × Number of units + $18,516

4) Number of units = 1,600

Total cost = Average cost per unit × Total units

= $22.43 × 1,600

= $35,888

5) Number of units = 1,600

therefore,

Total cost = $7 × Number of units + $18,516

= $7 × 1,600 + $18,516

= $11,200 + $18,516

= $29,716

6) Difference between the cost = $35,888 - $29,716 = $6,172

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