TRUE/FALSE: in perfect competition, each firm

In a competitive market, all of the choices along the production possibility frontier display .efﬂctency, whrle the spectﬁc chor

Alja [10]

Answer:

Productive; Allocative

Explanation:

The production possibility frontier shows the various combinations of two products that a limited resource.can produce.

So in competitive markets any choice along the PPF shows productive efficiency (where increased production of one good leads to reduced production of the other).

A specific choice by society on the PPF is allocatively efficient (concerned with consumer satisfaction, consumers choose which good will most satisfy them).

8 0

3 years ago

Explain the concept of delegation of authority

Archy [21]

Explanation:

Delegation of authority is a process that enables a person to assign a task to others. As a manager or leader, you're expected to perform several tasks and meet multiple deadlines. To ensure that you achieve your objectives on time, you delegate responsibility to your team members

6 0

3 years ago

Read 2 more answers

Bob agreed to tutor Lola in Spanish for two (2) hours and Lola agreed to pay $25.00 per hour for the tutoring services. Bob tuto

polet [3.4K]

Answer: discharged by performance

Explanation:

When parties to a contract are discharged from their duties as per the contract, it means that they are no longer party to the agreement. When this is done by performance, it means that the discharge was done because both parties have fulfilled the demands of the contract.

Bob agreed to tutor Lola for two hours and Lola agreed to pay Bob $50 for that. Bob then tutored her for the two hours and was paid the amount. The parties have therefore fulfilled their obligations to each other and so the contract has been satisfied.

5 0

3 years ago

RuthAnn is 28 years old and is retiring at the age of 65. When she retires, she estimates that she will need an annual income of

inessss [21]

Answer:

Yes

Explanation:

From her current age of 28 to her retirement age of 65, RuthAnn has (65 - 28 =) 37 more years to work.

If she saves 11% of her annual income of $36,278.13 into a 401(k), she will be setting aside (11% * 36,278.13 =) $3,990.59 into the 401(k) account annually.

At 7.1% compounding rate, in 37 years, RuthAnn would have set aside an amount estimated by the future value of an annuity formula.

$FV = \frac{A(1+r)^{n} - 1}{r}$

where FV is the future value, the amount that would have been set aside,

A = is the annual savings,

r = is the compounding rate, and

n = is the number of years.

Therefore, the total amount that would be saved up after 37 years =

$FV = \frac{3,990.59(1+0.071)^{37} - 1}{0.071}$

= (3,990.59 * 11.6535)/0.071

= $654,990.31.

By spending $32,523 annually from an account earning 7.1% compound interest rate for 30 years, the present value of the total amount needed by RuthAnn today that will be sufficient for her retirement spending can be estimated using the present value of an annuity formula.

$PV = \frac{A(1 - (1+r)^{-n}}{r}$

= $PV = \frac{32,523(1 - (1.071)^{-30}}{0.071}$

= (32523 * 0.8723)/0.071

= $399,574.83.

Since the amount saved up ($654,990.31) is more than the total amount required for RuthAnn's retirement ($399,574.83), RuthAnn has more than sufficient to meet her Retirement goal.

Specifically, the amount she has saved up can support a maximum annual spending which can be estimated from the present value of an annuity formula.

$PV = \frac{A(1 - (1+r)^{-n}}{r}$

where PV = the amount saved up, $654,990.31,

A = the annual spending which we are estimating,

r = the 7.1% compound interest rate,

n = the number of years to retirement.

$654,990.31 = \frac{A(1 - (1.071)^{-30}}{0.071}$

= 654,990.31 = (A * 0.8723)/0.071

= A = 654,990.31/0.8723 * 0.071

= A = 53,312.29

Thus, the amount saved up can support a maximum retirement spending of $53,312.29, which is higher than the $32,523 annual income needed by RuthAnn for her retirement.

6 0

3 years ago

Rodgers Inc. is imports paper from Shanghai China. In a typical transaction Rodgers receives a delivery of paper from the Chines

kari74 [83]

Answer:

Rodgers can hedge its foreign risk by using a Contract to buy Yuan in the futures market today at an agreed upon price in 90 days.

Explanation:

Solution

Since Rodgers receives a delivery of paper from the Chinese Company and pays the company in Yuan, so he has to hedge his exchange rate risk by buying or purchasing Yuan future contract for 90 days.

So, Rodgers Incorporation should make a contract to buy Yuan in the future market today at an agreed price in 90 days.

5 0

4 years ago