Answer:
B. includes only one good.
Explanation:
A corner solution is a microeconomics concept, which is used to illustrate the graphical representation of a situation where an individual wouldn't do some things at any cost or for any price.
Optimum is usually experienced on the consumer graph at the point where the indifference curve (IC) is just tangential to the consumer's budget constraint. Thus, the corner solution lies at the non-zero interior, which then means that none of the other goods is contained in the optimum.
Hence, an optimum that occurs as a corner solution includes only one good.
<em>For instance, Tracy saying she wouldn't buy a XYZ phone for any price, or Sarah saying she would visit a museum no matter how much it will cost her are some examples of corner solution. </em>
Answer:
a, 22276.07
b. $32.9157 million
c.$29.9669million
Explanation:
Find the values of k and a assuming a relationship of the form Assume that f(y)=ky^a is in units of barrels per day.
b. Determine the optimal timing of plant additions and the optimal size and cost of each plant addition.a=0.8073, rx=0.41
optimal timing x=rx/r=2.05yrs
optimal size xD=2.05(1.5)
3.075million barrels/year
$32.9157 million
c. Suppose that the largest single refinery that can be built with current technology is 7,500 barrels per day. Determine the optimal timing of plant additions and the optimal size and cost of each plant in this case
Optimal size xD=min
Optimal timing will be X^*=x*D/D=2.7375/1.5=1.825 year
optimal cost f(y)=ky^a=0.0223(7500)^0.8073=$29,9669 milion
Answer: countries would purchase microchips from japan because they are cheaper
Explanation:
Answer:
The inflation rate should remain the same or around the same.
Explanation:
Since almost 50 years ago, there has been a very steady relationship between the inflation rate and the unemployment rate in the US. When the inflation rate is lowering, the unemployment rate tends to increase, and vice versa.
In this case the unemployment rate is stable and has been stable for a number of years, so the inflation rate should remain the same as last year's.
Answer:
$51 million
Explanation:
The movement or difference between the opening and closing retained earnings is the net in the dividends paid and the net income for the year.
Given
net income = $41 million
Opening retained earnings = $675 million
closing retained earnings = $665 million
Dividend paid = p
$675 million + $41 million - p = $665 million
p = $675 million + $41 million - $665 million
p = $51 million
Dividend paid to shareholders is $51 million
