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2 years ago

Why is bad weather sometimes good news for farmers?

1 answer:

7 0

<span>(D) is the most correct answer. When the weather is bad, this will shift the supply curve of (mostly inelastic) farm goods to the left. This will, in turn, raise the equilibrium price that farmers will be able to receive for the products. All else equal, this will raise the overall profit that the farmers will receive, even in times of bad weather.</span>

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Beth is a retired teacher who lives in dallas and does some consulting work for extra cash. at a wage of $40 per hour, she is wi

Ipatiy [6.2K]

Price Elasticity of Supply. The price elasticity of supply is calculated as the percentage change in quantity divided by the percentage change in price.
Using the Midpoint Method
PES = ((Q2-Q1) / ((Q2 + Q1) / 2)) / ((P2-P1) / ((P2 + P1) / 2))
PES = (((10) - (7)) / (((10) + (7)) / 2)) / (((50) - (40)) / (((50) + (40)) / 2))
PES = 1.59
the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%
answer:
the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%

4 0

3 years ago

Explain why accurate measurement is so important in baking.

Fittoniya [83]

Accurate measurement is VERY important in banking because banking is all about exact calculations. If one balance measure is off, the entire bank report will not be acurate. One little mess up and the entire calculation goes wrong.

5 0

3 years ago

Charlie Chairs Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materi

UNO [17]

Answer:

Units transferred out = 760

Explanation:

If we assume that all units are completed in the order of arrival i.e (FIFO), then the units transferred out is the sum of the opening inventory and the units started and completed in the period. The units started and completed in the period is referred to fully-worked.

Fully worked is computed as the units started in the period less the closing inventory .

Fully- worked = 800 - 240 = 560

The units transferred out = opening inventory + Fully-worked

= 200 + 560 = 760

Units transferred out = 760

Note we assumed that the units of the inventory( started last period i.e January) would be worked on first in the month of February before any other units. So, it is assumed completed by the end of February

6 0

2 years ago

You are considering the purchase of an office building for $1.5 million today. Your expectations include the following: first-ye

ddd [48]

Answer:

$289000

Explanation:

Effective Gross Income (EGI): Effective Gross Income is calculated by deducting the Vacancy and collection (V&C) loss from Gross Potential Income (GPI).

First year gross potential income (PGI) is $340,000

Vacancy and collection (V&C) loss is 15% of gross potential income

Therefore, (V&C) allowance = [$340,000 15%]

= $51,000

Calculate Effective Gross Income (EGI) for the first year of operations:

Item

Amount

Potential gross income (PGI)

$340,000

Less: V&C allowance (at 15% of PGI)

($51,000)

Effective Gross Income ( EGI )

$289,000

Hence the EGI is $289,000

7 0

3 years ago

In a class of 28 students,18 are in Math Club,15 are in Science Club and 8 are in English Club.There are 10 students in both Mat

ruslelena [56]

18 students belong in two clubs

8 0

2 years ago