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OleMash [197]
3 years ago
7

Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of ber

ries each day, and Jim can either catch 8 fish or gather 24 pounds of berries each day. Both of them work 200 days per year. At current world prices 1 fish trades for 3.5 pounds of berries. Who has the comparative advantage in producing berries
Business
1 answer:
Firlakuza [10]3 years ago
7 0

Answer:

SHEILA

Explanation:

A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.

Sheila's opportunity cost in producing berries = 10/40 = 0.25

Jim's opportunity  cost in producing berries = 8/24 = 0.33

Sheila has a lower opportunity cost in the production of berries and thus has a comparative advantage in the production of berries

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McCabe Manufacturing Co.'s budget at 8,000 units of production includes $40,000 for direct labor and $4,000 for electric power.
sesenic [268]

Answer: variable costs of $49,500 and $23,000 of fixed costs

Explanation:

A flexible budget refers to the budget which adjusts to the volume levels of a company.

Based on the information given in the question, the variable cost will be:

= (44000/8000) x 90000

= $49500 variable

On the other hand, the fixed cost has been given as $23000.

Therefore, the flexible budget would show variable costs of $49,500 and $23,000 of fixed costs.

4 0
2 years ago
Leh Inc. recently borrowed $275,000 from its bank at a simple interest rate of 9 percent. The loan is for nine months and, accor
Andreyy89

Answer:

Monthly payment =$32,618.05

Explanation:

<em>To arrive at the monthly installment, we would calculate the total interest due on the loan for nine months, add it to the principal and then divided the sum by 9 months</em>

<em>The monthly installment</em>

= (Principal + total interest for 9 months)/ number of months

<em>Interest for 9 months </em>

= 9%× 9/12 × 275,000

= $18,562.5

<em>Monthly installment</em>

= (275,000 + $18,562.5)/9

=32,618.05 per month

3 0
3 years ago
On January 1, 20X7, Server Company purchased a machine with an expected economic life of five years. On January 1, 20X9, Server
djverab [1.8K]

Based on the information given for Server Company, the machine will be valued a<u>t $42,000 </u>and the machinery account will be credited.

<h3>What would be the value of the machine?</h3>

The machine was sold on January 1, 20X9 and at that point, the accumulated depreciation was $28,000.

The value of the machine was therefore:

= Cost of machine - Accumulated depreciation

= 70,000 - 28,000

= $42,000

Find out more on accumulated depreciation at brainly.com/question/1287985.

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4 0
1 year ago
If the owner of a concert hall wishes to use third-degree price discrimination to price its tickets at $20, $15, and $10, it sho
Anika [276]

Answer: more elastic in their demand for tickets

Explanation:

Third-degree price discrimination is used by company when different price is being charged to a particular group of consumers.

Based on the scenario in the question, the owner of the concert hall should price tickets lower for customers who are more elastic in their demand for tickets.

Elastic demand simply means that a little change in the price of the concert hall will lead to a higher change in the quantity demanded. In this case, when the price increases, such people will buy little tickets. Therefore, the prices should be set lower for these set of people as there will be a huge increase in demand when the price is lower.

3 0
2 years ago
Indi and Indrani are sisters who own a software development company. Demand has been increasing for their products and services
Alexandra [31]

Answer:

open an new office because the expected marginal benefit ($12.5 million over 5 years) is greater than the estimated marginal cost ($7 million)

Explanation:

The computation is shown below;

Given that

Total marginal benefit = 12.5 million

And, the Total marginal cost = 7 million

Based on the above information

We can see that the new office should be opened as the marginal benefit would be more than the marginal cost

Therefore the first option is correct

And, the rest of the options would be incorrect

4 0
3 years ago
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