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Alecsey [184]
3 years ago
13

Assume that the quantity of X is measured on the horizontal axis, and the quantity of Y is measured on the vertical axis. Assume

that the price of X is $60, the price of Y is $30 and Rafe has an weekly income of $180. Which of the following is true? He can afford 6 units of good Y. His budget line has a slope of 1/3. He can afford 6 units of good X. His budget line has a slope of −1/3.
Business
1 answer:
serg [7]3 years ago
8 0

Answer:

True : <u>He can afford 6 units of good Y</u>'

Explanation:

Budget Line is a combination of two goods, consumer can afford with entire given money income & prices.

Equation : p1 x1 +p2 x2 =  m. Here p1 & p2 are prices of two goods, x1 & x2 are quantities of two goods, m is money income.

Intercept of budget line is max quantity of a good consumer can buy spending only on either good. Formula = m / p1 & m / p2

As : m = 180 , p1 (px) = 60 , p2 (py) = 30 . Intercepts (x & y) = 180 / 60 = 3  & 180 / 30 = 6 respectively.

So, '<u>He can afford 6 units of good Y</u>' is True. 'He can afford 6 units of good X' is False.

Slope shows the trade off of goods, given money income & price. Formula = = p1 / p2 = px / py = 60 / 30 = (-) 2. 'His budget line slope = 1/3 or -1/3',  both are False

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Youngston Company (a Massachusetts employer) wants to give a holiday bonus check of $750 to each employee. Since it wants the ch
stepan [7]

Answer:

Gross bonus=$1,148.54

FIT=252.68

OASDI=71.21

HI =16.65

MASS. TAX=58.00

Explanation:

Calculation for the withholding taxes and the gross amount of the bonus

Calculation for gross amount of the bonus

Gross amount of the bonus= [$750/ (1- 0.22 - 0.062 - 0.0145 - 0.0505] - 0.01

Gross amount of the bonus= [$750/ (0.78 - 0.062 - 0.0145 - 0.0505] - 0.01

Gross amount of the bonus= [$750/ 0.653] - 0.01

Gross amount of the bonus=1,148.545-0.01

Gross amount of the bonus=$ 1,148.54

Therefore the Gross amount of the bonus will be $ 1,148.54

Calculation for the withholding taxes

FIT =1148.54 * 22%

FIT=252.68

OASDI= 1148.54 * 6.2%

OASDI=71.21

HI=1148.54 * 1.45%

HI =16.65

MASS. TAX =1148.54 * 5.05%

MASS. TAX =58.00

NET 750.00

[$1,148.54-(252.68+71.21+16.65+58.00)]

Therefore the withholding taxes are:

FIT=252.68

OASDI=71.21

HI =16.65

MASS. TAX = =58.00

7 0
3 years ago
Mountaineers Inc. sells its rock-climbing shoes worldwide. Mountaineers Inc. expects to sell 4,000 pairs of shoes for $165.00 ea
bogdanovich [222]

Answer:

expected sales January, 4,000 pairs of shoes at $165 each = $660,000

expected sales February, 2,000 pairs of shoes at $220 = $440,000

expected COGS = 75% of expected revenue

expected sales March, 4,600 pairs of shoes at $240 = $1,104,000

ending inventory = $18,000 plus 45% of next month's COGS

<h2>                   <u>Sales budget</u>   </h2>

Month                       January              February             March

Units                           4000                  2000                  4600

Price                           $165                   $220                  $240

Total sales               $660,000         $440,000         $1,104,000

                   

<h2><u>Inventory, Purchases and COGS Budget</u></h2>

                                                       January        February      March

cost of goods sold                        $495,000    $330,000     $828,000

<u>+ desired ending inventory           $166,500    $390,600           ?        </u>

Total merchandise required         $661,500     $720,600           ?

<u>- beginning inventory                   ($315,000)   ($346,500)   ($374,100)</u>

budgeted purchases                    $346,500     $374,100            ?

8 0
3 years ago
This type of evidence can lead to the hasty generalization fallacy
Wittaler [7]

Answer:

Personal experience

Explanation:

Hasty generalization fallacy is also known as the over generalization fallacy. It is defined as making a claim grounded on the evidence that is very small. In short, the speaker jumps to the conclusions grounds on few examples.

Personal experience is  defined as the something which the speaker or the person gone through or seen ourselves. So, in this people tend to take a decisions grounded off their experience and it is very quickly.

It leads to the hasty generalization fallacy. Therefore, the correct option is personal experience.

7 0
3 years ago
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Lelechka [254]

Answer:

B. using a percentage of the price of an item

Explanation:

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