Since 1969, the economic growth in Hongkong has been greater than in the United States. Although both have been showing improvement and development when it comes to economic growth, Hongkong gave their best by devoting a bigger fraction of its resources to accumulating capital. Hongkong's production possibilities then have expanded more quickly. By 2009, the performance of Hongkong's economy has been promising for statistics states that the production possibilities of per person in the said country had reached 94 percent than in the United States. Another proof that Hongkong has been doing good is, it is considered as one of the world's leading financial centers. It boasts of its low taxation, almost free port trade and well established international financial market through its service-oriented economy.
Answer:
D. A price that fits comfortably in your budget
Answer:
The company must sell 10,00 products to break even
Explanation:
If you use the approached suggested in the question, you can solve for break even quantity by setting revenue to equal cost
R = C => 9x = 50,000 + 4x => 5x = 50,000 => x =10,000
<u>Double check: </u>
10,000 products sold as $9 would fetch $90,000 in revenue
Producing 10,000 products would incur 50,000 + 4 * 10,000 = $90,000 in total costs
=>The solution is correct
Answer: The answer is $27.25
Explanation:
Let x be the price Sweet dreams will charge to earn the profit of $75,000
New sales units = 20,000
New variable cost = $19
We know, Sales - Variable cost - Fixed cost = Profit
Now applying the equation,
20,000x - (20,000*19) - 90,000 = $75000
20,000x = $75,000 + 380,000 + 90,000
therefore, x = $27.25
So, Sweet Dreams will charge $27.25 to earn the same profit it is earning now i.e. $75000 per year.
The four main factors of production are land, or the physical space and natural resources, labor, or the workers, capital, or the money and equipment, and entrepreneurship, or the ideas and drive, which are used together to make a successful attempt at selling a product or service according to traditional economic ...
