Answer:
Explanation:
If the Boskin Commission's estimate was right and consumer price index overstated inflation by 1.1% every year, this is what we can derive about REAL GDP PER CAPITA and GENERAL LIVING STANDARDS IN THE UNITED STATES:
(A) Real Gross Domestic Product per Capita is the total (gross) production per head or per person (per capita) within (domestic) an economy; after accounting or adjusting for inflation. Before adjusting for inflation, we have the Nominal GDP. So the term "real" shows that the value has accounted for inflation. If inflation is positive in the economy, then Real GDP figure will be less than Nominal GDP figure. I hope you understand this background information.
So if consumer price index is overstating inflation, real GDP per capita will be higher than it is perceived/calculated to be, in those years
(B) The general standard of living (which is affected by consumer price index) would also be higher than perceived or calculated.
Note here that the 'general' standard of living is a measure that sums up living standard 'per capita'.
The answer is, Fertilizer A = 20, Fertilizer B = 56.
<h3>What is fertilizer and example?</h3>
- Among the organic fertilizers that occur naturally are manure, slurry, worm castings, peat, seaweed, and guano. Crops made of green manure are also raised to enrich the soil with nutrients.
- Organic fertilizers also include naturally occurring minerals including mine rock phosphate, sulfate of potash, and limestone.
<h3>Set up the equations:</h3>
- Nitrogen: 8x + 5y ≥ 440.
- Phosphorous: 2x + 5y ≥ 260.
- Potassium: 4x + 5y ≥ 360.
<h3>Find the vertices:</h3>
- It is easiest to graph the equations to find the vertices. (see attachment).
- You can also solve each system of equations to find the intersected points.
<h3>The following satisfy the "greater than or equal to" requirement:</h3>
- (0, 88) = y-intercept of Nitrogen equation.
- (20, 56) = intersection of Nitrogen and Potassium equations.
- (50, 32) = intersection of Phosphorous and Potassium.
- (130, 0) = x-intercept of Potassium.
<h3>Use vertices in cost function C(x) to find the minimum:</h3>
- C(x) = $30x + $20y.
- (0, 88): $30(0) + $20(88) = $1760.
- (20, 56): $30(20) + $20(56) = $1720 = This is the minimum!
- (50, 32): $30(50) + $20(32) = $2140.
- (130, 0): $30(130) + $20(0) = $3900.
The minimum cost occurs when 20 bags of Fertilizer A and 56 bags of Fertilizer B are purchased.
Learn more about Fertilizer here:
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Answer:
The fixed cost, variable cost per unit and the total cost is $3,800, $4 per unit ,and $6,000 respectively
Explanation:
1. The computation of the variable cost per unit is shown below:
= (High total cost - low total cost) ÷ (High number of cavities - low number of cavities)
= ($6,500 - $5,200) ÷ (675 - 350)
= $1,300 ÷ 325
= $4
2. The computation of the fixed cost is shown below:
Fixed cost = total cost - Variable cost
= $6,500 - (675 × $4)
= $6,500 - $2,700
= $3,800
3. And, the total cost for 550 cavities would be equal to
= Fixed cost + variable cost
= $3,800 + (550 cavities × $4)
= $3,800 + $2,200)
= $6,000
Answer:
True
Explanation:
The <em>Substitution Effect</em> is the effect on the demand of a certain product because of variations of the prices of the product or the income of households. The concept illustrates how quantities demanded of a product decrease as the population find other products to substitute it.
Answer:
The answer is e. to support a federal bailout of the banking industry
Explanation:
To response to financial crisis, President Bush had addressed in the public television that the federal bailout of damaged financial institutions was necessary to avoid long and painful recession.
In fact, his administration had implemented an $700 billion worth of Trouble Asset Relief Program since October 2008, in which the amount from federal government's budget was spent on bailout damaged financial institutions such as American International Group (AIG), and bad mortgage debts.
So, e is the correct choice.