Answer:
$49
Explanation:
Desired Profit = 0.3 x $70 =&21
Target cost = $70 - $21 = $49
Answer:
The optimal quantity of shirts to produce will be: Less than 10
Explanation:
we know that
in MR = MC and Q = 10
opportunity increase MC, towards the lower Q when you repeat condition
MR = MC.
Answer: b. The cross-price elasticity is -5.33.
c. The goods are complements.
Explanation:
The cross elasticity of demand is used to measure how the percentage change of the quantity demanded for a particular good has an effect on the percentage change in the price of another good.
Based on the values given above, the cross elasticity of demand will be:
= [(3 - 6) / (17 - 15)] × [(15 + 17) / (6 + 3)]
= (-3/2) × (32/9)
= -1.5 × 3.56
= -5.33%
Since it's a negative value, the goods are complement.
The correct options are B and C.
Answer:
Social contract
Explanation:
The social contract is the contract which is made by the people who are living in a society in order to accomplish some task in terms of social benefits so that the everyone could get the benefit of it
Therefore in the given case, the social contract is an agreement that is made among the persons that should be governed and hence the same is to be considered
