Answer:
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Answer:
Absolute advantage
Explanation:
Absolute advantage is the term which described as the ability of country, company or individual to produce the greater quantity of the service or good along with the same quantity of inputs per unit of time or producing the same amount of quantity per unit of time through using the lesser quantity of inputs.
The sepcialization should not be grounded on the absolute advantage rather it is grounded on the comparative or relative advantage as being better at something than someone else.
Answer: Becky's income elasticity of demand for eating at Macaroni grill is 10.22.
We calculate income elasticity of demand with the following formula:
where
η is the Greek letter eta that is used to denote elasticity of demand
Subscript I is used to denote Income elasticity
Q₁ is the quantity consumed after change in income
Q₀ is the quantity consumed before in income
I₁ is the new income
I₀ is the old income
Substituting the values we get,
Answer:
$6.2 per uni
Explanation:
The selling price is $7.
break-even sales in dollars is $28,000,
Variable expense per unit will be?
using the contribution margin method:
break-even point = fixed cost/ contribution margin per unit
In this case.
$28,000 = 22,400/contribution margin per unit
contribution margin per unit = 22400/28000
contribution margin per unit = $0.8
contribution margin = sales price -variable expenses
therefore,
$0.8= 7- variable expenses
variable expense = $7- $0.8
variable expense is $6.2 per unit
Answer:
"b" is not part of the role of a forester.
Explanation: