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RideAnS [48]
3 years ago
5

Answer the question on the basis of the following data for the hypothetical nations of Alpha and Beta. Qs is domestic quantity s

upplied and Qd is domestic quantity demanded. Refer to the given data. Assuming that Alpha and Beta are the only two nations in the world, at the equilibrium world price: Group of answer choices both nations will export steel. both nations will import steel. Alpha will export steel and Beta will import steel. Beta will export steel and Alpha will import steel.
Business
1 answer:
bezimeni [28]3 years ago
4 0

Question Completion:

Domestic Market for Steel, Alpha

Qs P Qd

60 5 10

40 4 20

30 3 30

20 2 40

10 1 50

Domestic Market for Steel, Beta

Qs P Qd

80 5 20

70 4 30

60 3 40

50 2 50

40 1 60

Answer:

Assuming that Alpha and Beta are the only two nations in the world, at the equilibrium world price:

Beta will export steel and Alpha will import steel.

Explanation:

a) Data and Calculations:

Domestic and World Market for Steel

Alpha                   Beta           World Market

Qs    P      Qd       Qs    P      Qd       Qs    P       Qd  

60    5        10       80    5       20      140    5       30

40    4       20       70    4       30       110     4       50

30    3       30       60    3       40       90     3       70

25   2.50  35       55    2.50  45       80    2.50  80

20   2       40       50    2       50        70    2       90

10   1       50        40    1        60       50     1       110

b) In the world market, equilibrium will occur at a price of $2.50, when the quantity supplied and demanded will be 80.  At this equilibrium price of $2.50, Alpha will supply 25 units, and Beta will supply 55 units.  Alpha will demand 35 units, and Beta will demand 45 units.  This implies that Beta will supply more than its demand for steel, while Alpha will supply less.  Therefore, Beta will export steel and Alpha will import steel.

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On January 1, 2019, Al's Sporting Goods purchased store fixtures at a cost of $180,000. The anticipated service life was 10 year
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Answer:

The journal entry is shown below:

Explanation:

The journal entry is as follows for recording the depreciation:

Depreciation expense A/c.........................Dr  $ 14,400

           Accumulated depreciation...............Cr   $ 14,400

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In year 2019

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The computation of the number of tons started and completed during October is shown below:

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