All categories

2 years ago

<

Business

1 answer:

navik [9.2K]2 years ago

7 0

Answer:

It is a vertical line at Real GDP = 6 billion

Points (6,0) and (6,8)

Explanation:

Long-run aggregate supply curve looks like a vertical line, while short-run aggregate supply curve is an upward-sloping line. The question says the full employment is at $6 billion, so that is where your long-run aggregate supply curve is.

You might be interested in

Does this "stiff competition" mean that the demand curve for McDonald's Chicken McNuggets is horizontal? Briefly explain.

blagie [28]

Answer: I found the complete question on Google:

By 2017, McDonald's had stopped selling Chicken McNuggets and other products made from chickens fed antibiotics. The change increased McDonald's costs, but an article in the Wall Street Journal noted that "...McDonald's ability to raise its prices is limited because of stiff competition."Source: David Kesmodel, Jacob Bunge, and Annie Gasparro, "McDonald's to Curb Antibiotics in Chicken," Wall Street Journal, March 4, 2015. Does this "stiff competition" mean that the demand curve for McDonald's Chicken McNuggets is horizontal? Briefly explain.

And the correct answer is: "B. No, the demand curve is not horizontal because Chicken McNuggets are not identical to other chicken products.".

8 0

2 years ago

A company is preparing financial statements using IFRS for the first time for the year ended December 31, 2018. The "transition

8_murik_8 [283]

Answer:

E. January 1, 2017

Explanation:

Financial statements are prepared showing at least two years for the sake of comparability.

It will be important for the company in presenting its financial statement using the IFRS for the year ended December 31st 2018 to show the financial statements for the year ended 31st December 2017 as if it had always applied the IFRS.

The basic idea is to show in the financial statements the effects of adopting the IFRS from a preceding period in order for the entity to show the financial statement for 2017 and 2018 and be able to compare them having been prepared on the same basis.

Thus, the transition date will be the beginning of the preceding period when the IFRS was applied (1st Jan. 2017 oe 31st Dec. 2016).

I hope this explanation makes the concept easy to grasp.

Thank you.

7 0

2 years ago

Oriole Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 390 $6

rewona [7]

Answer:

Cost of goods available for sale = $12,480

Explanation:

The cost of goods available for sale is the sum of the value of the opening inventory plus the cost of new purchase. The cost of new purchase would include carriage inward cost if any.

For Oriole company , the cost of goods available for sale would be computed as follows:

Opening inventory 2,340

Purchases

June 12 5,460

June 23 4,680 10,140

Cost of goods available for sale 12,480

Note that the sales made are not relevant for the purpose of determining the cost of goods available for sale. Also, the closing inventory would have been deducted from the cost of goods available for sale to arrive at the cost of goods sold should the question require it.

7 0

2 years ago

Gross Inc. signs a five-year licensing agreement with Maiger Company. Gross Inc. will pay Maiger annual installment payments of

olganol [36]

Answer:

$4,500

Explanation:

First, calculate the total Installment

Total Installment payment = Annual Installment x Numbers of annual

Where

Annual Installment = $10,500 per year

Numbers of annual = 5 years

Installment payment = $10,500 per year x 5 years

Installment payment = $52,500

Now use the following formula to calculate the Interest payent

Interest payment = Installment Payment - Fair value of contract

Where

Installment Payment = $52,500

Fair value of contract = $48,000

Placing values in the formula

Interest payment = $52,500 - $48,000

Interest payment = $4,500

7 0

3 years ago

Analyse eskom in terms of the characteristics of a monopoly

den301095 [7]

Eskom is a South African public company which handles the electricity for public usage in the South Africa. Eskom is the stand-alone generator of electricity in South Africa which holds the monopoly over the power plants and transmission. Eskom managed more than 10 power stations in South Africa. South Africa experienced an electricity crisis despite its number of power stations.

4 0

2 years ago