Answer: (1) Equilibrium price = 60 and Equilibrium quantity = 120, when I = $1500.
(2) Equilibrium price = 54 and Equilibrium quantity = 108, when I = $1200.
Explanation:
(1) When Average income (I) = $1500
At equilibrium, QD = QS
150 - 3p + 0.1I = 2p
150 - 3p + 0.1 × 1500 = 2p
5p = 300
p = 
p = 60
q = 2p ⇒ 2 × 60 = 120
Hence, p and q are equilibrium price and equilibrium quantity, respectively.
(2) If 20% income tax is introduced then Average income (I) = $1500 - 20% of $1500 ⇒ $1500 - $300 = $1200
At equilibrium, QD = QS
150 - 3p + 0.1I = 2p
150 - 3p + 0.1 × 1200 = 2p
5p = 270
p = 
p = 54
q = 2p ⇒ 2 × 54 = 108
Hence, p and q are equilibrium price and equilibrium quantity, respectively.
Answer:
FV= $137,440.62
Explanation:
Giving the following information:
Bob makes his first $ 800 deposit into an IRA earning 7.4 % compounded annually on his 24th birthday and his last $ 800 deposit on his 39th birthday (16 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.4 % interest compounded annually until Iob retirees on his 65th birthday.
First, 16 years:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {800*[(1.074^16)-1]}/0,074= $23,067.90
Next 25 years.
FV= PV*(1+i)^n
FV= 23,067.90*(1.074)^25= $137,440.62
Answer:
Delegation.
Explanation:
As Fun-Time Novelties, makers of stickers and other party favors, has seen remarkable growth in the last few years. This has required managers such as Celine, head of shipping for the company, to assign tasks to subordinates. Celine is making use of a process known as delegation. Delegation can be defined as assigning of an authority to another person, mostly it is done by a manager when he or she assigns any work to his or her subordinates in order to accomplish certain tasks and activities. The person who delegates the work is still held responsible and accountable for the work which he or she has delegated to someone else.
Answer and Explanation:
C) equals marginal cost: is upward-sloping
Answer:
Relevant costs are costs that will be affected by a managerial decision. Irrelevant costs are those that will not change in the future when you make one decision versus another.
Explanation:Examples of irrelevant costs are sunk costs, committed costs, or overheads as these cannot be avoided.
