Answer: B. Half of all the rural land
Explanation:
Answer:
C. Best use resources to maximize satisfaction of economic wants
Explanation:
Economics is a social science that studies human behaviour in relation to ends and scarce means resulting in alternative uses. This definition by Lord Robbins deals with the basic concept of economics.
Human wants are unlimited however, the resources available to satisfy these wants are limited hence choices have to be made in other of importance for the allotment of the limited resources in satisfying the unlimited wants resulting in scale of preference and opportunity cost.
Answer:
$2,685
Explanation:
Calculation to determine the machine's net present value
NET PRESENT VALUE
Year Cash flow*Discount factor at 8% =Discounted Cash flows
0 $ -40,000*1= $-40,000
1 $ 12,000*0.9259= $11,111
2 $12,000*0.8573=$10,289
3 $ 12,000* 0.7938=$9,526
4 $16,000*0.7350=$11,760
NET PRESENT VALUE $2,685
($-40,000+$11,111+$10,289+$9,526+$11,760)
Therefore the machine's net present value is $2,685
Answer:
relatively flexible
Explanation:
Flexible pricing is when there is room for negotiation of prices of a product between the buyers and sellers.
So the price is prone to change in short amount of time.
Sticky price on the other hand tends to be non negotiable and the does not change over time.in the given scenario prices for airline tickets change on average about once per month.
So there is constant change of the price every month. Meaning the buyer can convince the seller to change his offering price.
The price is relatively flexible
Answer:
The everyday low pricing policy is the policy that Matt's retail store is following.
Explanation:
Everyday low pricing policy is the kind of a pricing strategy in which any company or firm keeps the prices of its products at low over a long period of time rather than putting any kind of sale or promotional activities. So here the consumers don't have to wait for the sale to start, the prices are already at everyday low. An important assumption to understand here is that in this kind of pricing strategy cost of production is assumed not be changed, that is why a company is able to implement this policy over a long period of time.
So therefore as here Matt's retail store is giving $2 lesser price for its product than its competitors , it means that Matt's retail store has applied everyday low pricing strategy.
