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dolphi86 [110]
3 years ago
13

A recent college graduate has obtained employment at a major financial institution in the big city. Since she just graduated, sh

e has decided to continue to rent her college apartment in the suburbs and make the daily commute to the big city for work. She currently pays $1,200 per month to rent an apartment in the suburbs. She works at the bank five days a week and it takes her one hour each way to commute from her home to her office. According to the assumptions of the bid-rent model, what should this recent grad be willing to pay in rent per month to live in the big city if her hourly wage rate is $25
Business
1 answer:
Romashka-Z-Leto [24]3 years ago
4 0

Answer:

$2,200

Explanation:

Calculation to determine what should this recent grad be willing to pay in rent per month

First step is to calculate the work days

Using this formula

Work days = 5 days per week x 1 hour to work+ 1 hour from work

Let plug in the formula

Work days = 5 days a week x 2 hours

Work days= 10 hours

The second step is to calculate the monthly commuting in a standard month of 4 weeks

Monthly commuting = 4 x 10 hours

Monthly commuting = 40 hours

Third step is to calculate hourly how much she will be able to maximize

Amount maximize = $25 x 40 hours (commuting hours)

Amount maximize= $1,000

Now let determine The total she will be willing to pay in rent

Rent per month= $1,200 + $1,000

Rent per month=$2,200

Therefore what should this recent grad be willing to pay in rent per month is $2,200

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$50

Explanation:

Marginal costs refer to the additional expense incurred in the manufacturing of one more unit of a product. It is the incremental cost associated with producing an extra unit of a good.

The formula for calculating  marginal cost is,

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in this case:

MC = $1550 - $ 1500

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The rules governing when a sale is a sale when the product is _____and _____; the buyer can cancel prior to that.
zhuklara [117]

Basically, the rule of sales contract recognizes that sales is done when the product is negotiated on and <u>paid for</u>, and thus, the the buyer can cancel prior to that.

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Hence, the rule of sales contract recognizes that sales is done when the product is negotiated on and <u>paid for</u>, and thus, the the buyer can cancel prior to that.

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6 0
2 years ago
Three years ago, Joe bought a 5-year, 10% coupon paid semiannually bond for $1000. Currently, with interest rates having risen s
ludmilkaskok [199]

Answer:

3.63%

Explanation:

Semiannual coupon payment

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The total number of compounding period = 2periods per year × 3 years = 6 periods.

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What economic benefit has the debt reschedule for developing countries?
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Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $
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Answer:

A. $2.40 per Machine hour

B. Underapplied = $10,000

C. cost of goods sold (debit) $10,000 , overheads (credit) $10,000

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7 0
3 years ago
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