1. Assuming Panem does not produce anything else in 2020, GDP = 78500
2. Panem's per capita GDP growth is 7.55%
1. We have the following data to answer this question
9,000 loaves of bread = $6
2250 wheat = $2
400 axes = $50
<u>We have to first calculate for </u><u>GDP.</u>
GDP stands for gross domestic produce. This is the total sum of goods and services that were made in a particular area at a particular time.
GDP = price * product
Bread = 9000*6 = 54000
wheat = 2250 * 2 = 4500
axes = 400 * 50 = 20000
∑GDP = 54000 + 4500 + 20000
= <u>$78500</u>
Therefore if Panem does not produce anything else in 2020 GDP = $78500
2. <u>We have to find the </u><u>GDP per capita</u>
= 392.5
<u>The GDP increased by</u> 14%
= 78500 * 1.14
= 89490
<u>Population grew to </u><u>212</u>
= 422.12
<u>The percentage</u><u> increase </u>
= 
= 7.55%
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From the calculation below, the profit-maximizing labor input is 0.0625, and the profit of the firm is 0.125.
<h3>How do we determine profit-maximizing labor input and profit?</h3>
From the question, we can obtain:
R = Revenue = Q*P = L^0.5 * 1 = L^0.5
C = Cost = w * L = 2L
P = Profit = R - C = L^0.5 - 2L
To obtain the profit-maximizing labor input, the first derivative of P is taken, equated to zero, and we solve for L as follows:
P' = 0.5L^-0.5 - 2 = 0
0.5L^-0.5 = 2
L^-0.5 = 2 / 0.5
L^-0.5 = 4
L^(-0.5/-0.5) = 4^(-1/0.5)
L = 0.0625 ----> profit-maximizing labor input
The profit (P) of the firm can now be calculated by substituting L = 0.0625 into the P function as follows:
P = 0.0625^0.5 - (2 * 0.0625) = 0.125 --------> Profit of the firm
Learn more about profit function here: brainly.com/question/16866047.
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The answer is C, good luck!
Answer:
PV= $81,947.83
Explanation:
Giving the following information:
Future value= $95,000
Interest rate= 0.03
Number of periods= 5
To calculate the initial investment required to reach the objective, we need to use the following formula:
PV= FV/(1+i)^n
PV= 95,000/(1.03^5)
PV= $81,947.83
Answer:
The allowance can be taken based on:
a reduction (production) of the oil and gas reserves.
Explanation:
A limited partnership's allowance for depletion is a special form of depreciation used to account for the gradual reduction in the value of natural resources based on their usage or consumption. There are two methods for recognizing depletion of natural resources. They are the cost depletion method, which is based on usage, and the percentage depletion method, which is a percentage of gross earnings. Then, depletion is different from depreciation, in that depreciation is for tangible assets, while depletion is for natural assets.
