Answer:
Raises ;
C. A drought in Kansas is not significant enough to affect the worldwide price of grain.
Explanation:
Drought is a situation where there is shortage of water due to prolong absence of rainfall.
This is because, when Kansas has a drought, purchasers or buyers can substitute wheat from other places for Kansas wheat.
But, when the whole world has a drought, purchasers or buyers have no other suppliers of wheat to substitute. This means that, no area will have wheat so that the buyers can buy, because every area will be affected by the drought.
In this case,the demand for wheat is inelastic in the short run.
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $51.75 (3 Million × $17.25)
To Paid-in capital in excess of par value A/c $51.60
To Common shares A/c $0.15 (3 Million × 0.05)
(Being the sale of shares is made)
The remaining balance is credited to the Paid-in capital in excess of par value i.e $51.60 ($51.75 - $0.15)
All the amounts are in million
Falling prices send signals to consumers that a store is going out of business. <span />
Answer:
The labor productivity for Deluxe and Limited cars are as follows:
Units/Hour dollars
Deluxe Car 0.13 103.64
Limited Car 0.21 156.54
Explanation:
It is noteworthy that labor productivity in terms of units/hour does not put into consideration quality of product, selling prices and skill level of the manufacturing workers. It would extremely difficult for supervisors to find out the workers that are better in terms of unit/hour.
Find attached spreadsheet with detailed calculation and formulas used.
