Answer:
The effective rate of protection for the U.S. steel industry is approximately 17.5%
Explanation:
Mathematically, the effective rate of protection is calculated as follows;
e = (n-ab)/(1-a)
where n is the nominal tariff rate on the final product , a is the ratio of the value of the imported input to the value of the finished product and b is the nominal tariff rate on the imported input
Mathematically;
a = value of iron ore/value of steel = 100,00/500,000 = 1/5 = 0.2
From the question, we can see that nominal tariff rate for steel n = 15% = 15/100 = 0.15
The nominal rate for iron ore b = 5% = 5/100 = 0.05
So we substitute all of these into the equation of e above
e = {0.15-0.2(0.05)}/(1-0.2) = (0.15-0.01)/0.8 = 0.14/0.8 = 0.175 which is same as 17.5%
A salesperson working for a firm that operates on the basis of exclusive sales territories must <u>consider whether the prospect is eligible, based in location or customer type, to purchase from him or her</u>.
A salesperson is responsible for greeting customers, helping them find items in the store, and calling them to purchase. To be successful as a salesperson, you need excellent communication skills. Great salespeople meet their sales goals while being polite and helpful to their customers.
Definition a salesperson is a person who sells goods or services. An example of a seller is someone who sells cars. salesman. A person engaged in the sale of goods or services.
A great salesperson should offer customers more than an inspiring sales pitch. He is an enthusiastic and resilient person who understands the needs of his customers, shows empathy, and takes the time to sell his products with confidence.
Learn more about Salesperson here: brainly.com/question/24951536
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Answer:
D. Earn short run economic profits
Explanation:
A cartel can be defined as a formal agreement reached (collusion) in an oligopolistic industry between two or more business firms that are saddled with the responsibility of producing goods and services in order to make price and output decisions such as price regulation, total level of output or supply, allocation of customers, market shares, territory allocation, division of profits, collusive bidding etc.
This ultimately implies that, when a group of independent firms in an oligopolistic industry collude by reaching a formal agreement to regulate supply, as well as manipulate or regulate prices, they do so to increase their profits and market dominance.
Hence, firms colluding earn short run economic profits.
Answer:
See explanation section.
Explanation:
June 1 Petty Cash $450
Cash $450
To record opening of petty cash.
12 Cash $11,381
Cash short and Over $14
Sales $11,367
To record the sales and finding the cash short and over.
30 Store Supplies $50
Merchandise Inventory $108
Office Supplies $106
Miscellaneous Administrative Expense $146
Cash Short and Over $6
Cash $416
To record the expenses cash short and over.
30 Cash $21,860
Cash Short and Over $19
Sales $21,879
To record the sales and finding the cash short and over.
30 Petty Cash $113
Cash $113
To record the increase of petty cash.
Answer:
1. Illegal
2. illegal: forbidden by law
