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3 years ago

Agreement and disagreement among economists

Business

1 answer:

vredina [299]3 years ago

6 0

Answer:

Differences in values
C. Tariffs and import quotas generally reduce economic welfare.

Explanation:

Yvette and Sean most likely have a difference in values because they believe that one thing is better for the economy than the other. This means that when it comes down to the economy, they value a certain approach over other approaches.

Economist don't usually find common ground on many things but there are some things where they have a general consensus and one of them is that tariffs and import quotas are bad for the economy. They believe that people stand more to gain from free trade than restricted trade.

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A car rental agency rents 220 cars per day at a rate of 28 dollars per day. For each 1 dollar increase in the daily rate, 6 fewe

9966 [12]

The cars should be rented at $34 per day for a maximum income of $6268 per day.

If the daily rental is increased by $x

Rental: R(x)=(28+x)dollars per car-day

Number of cars rented:

N(x) = (220−6x) and Income: I(x) = (28+x) (220−6x) = 6,610 + 52x−5 $x^{2}$ dollars/day.

The maximum will be achieved when the derivative of I (x) is zero.

$\frac{dI(x)}{dx}$ = 52−10x = 0

⇒ x = 5.2

For an even dollar rental amount, and increase of $5/day or $6/day will generate the same income.

$28+$5 = $33/day

$28+$6 = $34/day

would both be valid answers.

However, $34/day involves renting fewer cars and thus reduced expenses.

Using basic substitution and arithmetic

I(4) = $6,268

<h3>What is Maximum revenue ?</h3>

Maximum revenue is defined as the total maximum amount of revenue of product or service can yield at maximum demand and price.

To calculate maximum revenue, determine the revenue function and then find its maximum value. Write a formula where p equals price and q equals demand, in the number of units.

Learn more about Maximum revenue on:

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3 0

2 years ago

In financial management, risk is referred to as the environmental factors that may affect a business adversely. internal factors

VARVARA [1.3K]

Answer:

Option C The degree of uncertainty about the actual outcome of a decision.

Explanation:

The reason is that risk is the vulnerability of an desired outcome and which can be measured. So if toss a coin there are 50% chances that head will appear and I will loose money and 50 percent chances that tail will appear and I win money. So undesired outcome here is head appearing because I will loose money and it has 50% chances. So risk result in undesired outcome in an uncertain environment.

6 0

3 years ago

Nancy has a portfolio of two stocks. Stock A has an expected return of 8% and stock B has an expected return of 10%. Her funds a

dedylja [7]

Answer:

b. 8.92%

Explanation:

Calculation for the portfolio expected return

Using this formula

Portfolio expected return = (Stock A allocated fund x Stock A expected return) + (Stock B allocated fund x Stock B expected return)

Let plug in the formula

Portfolio expected return= (54%*8%) + (46%*10%)

Portfolio expected return=0.0432+0.046

Portfolio expected return=0.0892*100

Portfolio expected return =8.92%

Therefore the portfolio expected return will be 8.92%

7 0

3 years ago

The roles of money Sam just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down pay

Mashutka [201]

Answer:

Explanation: Money is a medium of exchange for goods and services. Money plays a large role in the economy and in the life of an individual.

The role of money include:

1. Medium of Exchange: Money is used to facilitate the sale, purchase, or trade of goods between parties. It is used as a medium of exchange for goods and services that is why Sam had to save some money so that he will have access to the car he wants.

2. Unit of Account: The value of something is measured in a specific currency. From the question, the value of each car was stated using a value of money. This will enable the buyer or seller known the value if what is to be bought or sold.

3. Store of Value: A store of value is something that people use to transfer purchasing power from the present to the future. Here, Same had saved some money which did not change in value as at when he wanted to buy the car and he also had to obtain a loan that would be paid off on a later date.

4 0

3 years ago

Certain economic principles are of considerable importance in the valuation of real estate. The principle that "no buyer will pa

Svet_ta [14]

Answer:

Substitution

Explanation:

Principle of subsitution states that no consumer should buy a product for a high price of he can get an alternative (duplicate) that is of a cheaper price.

Substitutes are alternatives that provide similar satisfaction to the customer.

When the price of one product goes up the customer has a choice of going for an alternative.

For example honey and sugar are substitutes. When the price of one goes down people will go for the cheaper alternative. This acts as a price control mechanism.

5 0

3 years ago