Answer:
Yeah the granny's right in her own way.
Explanation:
Due to inflation, which means the rise in price of goods and services, the amount that one can buy for their money; known as, "buy for money", and "purchasing power" has reduced. This phenomenon shows that when the price goes up, the quantity that can be purchased for the same price goes down.
This is an interesting relationship between inflation and deflation like mentioned above . Less buy for money (per dollar) during inflation (of price) and vice versa during deflation.
Answer: $8.60
Explanation:
Since Henry wrote 24 checks in April and the bank charges $0.15 a check, the amount paid on the check will be:
= 24 × $0.15
= $3.60
Furthermore, since the monthly service charge for the checking account is $5, the total of the fees Henry pays in April on his checking account will be:
= $5 + $3.60
= $8.60
Therefore, the total amount that Henry will pay will be $8.60.
Answer:
$10
Explanation:
The marginal rate of technical substitution (MRTS) is an economic theory that illustrates the rate at which one factor must decrease so that the same level of productivity can be maintained when another factor is increased.
DATA
Marginal Product Labor (MPL)= 12
Marginal Product Capital (MPk) = 20
Price of labor = w = 6
Price of capital = r
Solution
Marginal rate of technical substitution = MPL/MPk
Marginal rate of technical substitution = 12/20
Marginal rate of technical substitution = 3/5
At optimal choice MRTS = PL/Pk
MRTS = w/r
3/5 = 6/r
3r = 30
r = 30/3
r = 10
Answer:
212,000 pounds
Explanation:
Calculation to determine what the pounds of material to be purchased in April is
Beginning inventory 210,000
(105,000 x 2)
Add Ending inventory 44,000
(20% of May production needs
( 110,000 x 2 x 20%)
Less Beginning Inventory 42,000
(20% of April)
April pounds of material to be purchased 212,000 pounds
(210,000+44,000-42,000)
Therefore the pounds of material to be purchased in April is 212,000 pounds
