Answer:
see below
Explanation:
1. Division of labor develops an individual’s creativity... <u>False, </u>division of labor involves repeating the same tasks, which created monotony and kills creativity.
2.Specialization can be applied go all productive activity... <u>True, </u>Specialization involves concentrating on a specific skill, activity, or production process,
3. Specialization produces sameness of products... <u>True, </u>same employees using the same processes in production will most likely have the same outcome.
4. Cost per unit is reduced with specialization... <u>True, s</u>pecialization increase efficiency leader in lowering cost per unit.
Answer:
-0.523 and inelastic
Explanation:
The computation of the price elasticity of demand using mid point formula is given below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)
where,
Change in quantity demanded is
= Q2 - Q1
= 150 units - 200 units
= -50 units
And, average of quantity demanded would be
= (150 units + 200 units ) ÷ 2
= 175 units
Change in price would be
= P2 - P1
= 3,500 - 2,000
= 1,500
And, average of price would be
= (3,500 + 2,000) ÷ 2
= 2750
So, after solving this, the price is -0.523
Since the price elasticity of demand is less than 1 so it would be inelastic
Answer:
d. $169,200
Explanation:
Total units available for sales = Beginning units + Purchases = 10,000 + 9,000 + 6,000 = 25,000 units
Number of units sold = Total units available for sales - Ending units = 25,000 - 4,000 = 21.000 units
Using LIFO method, cost of good sold can be calculated as follows:
Cost of good sold = (6,000 × $7.00) + (9,000 + 8.00) + (6,000 × $9.20) = $42,000 + $72,000 + $55,200 = $169,200.
Therefore, the cost of goods sold under the LIFO method is $169,200.
Answer:
The answer is A) Rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
Traditional economic theory is based on three fundamentals, the first one being we are all rational consumers or suppliers.
Alex is trying to earn some money, completely rational and intelligent. He is able to do it by satisfying his neighbors´ need for lawn mowing.
Is he greedy? Probably yes, but he is still rational. No one is forced to pay his fee, so his also rational neighbors will decide if the price is correct or not. Those who believe the price is correct will hire him. If someone believes his is charging too much and that they can offer the same service for a lesser price, should show up and offer their cheaper services.
Can people who buy a 25 million dollar car be considered irrational? No they can´t, because for them is probably an investment or they simply have tons of money and like extremely expensive cars. What one person considers expensive may be considered cheap by someone else.
<span>Constructing each point in many different ways is usually not a good way to make one's main points. This will only confuse the reader and give them the belief that the writer doesn't really have that much evidence to back up their main idea. Using a number of different points, while only stating them in one way makes it easier for the reader to see all the different pieces of evidence and how they fit together.</span>
