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Harlamova29_29 [7]
3 years ago
14

Country A can produce 10 yards of textiles or 6 pounds of food per unit of input. Compute the opportunity cost of producing one

additional unit of food instead of textiles.
Business
1 answer:
77julia77 [94]3 years ago
7 0

Answer: 1.67 yards of textiles

Explanation:

The country can either produce 10 yards of textiles or 6 pounds of food. Opportunity cost of producing one additional unit of food instead of textiles will therefore be;

= 10/6

= 1.67 yards of textiles

<em>This shows that for every pound of food produced, 1.67 yards of textiles are foregone. </em>

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Answer:

B. $34,000; -$1,000

Explanation:

Accounting profit equals total revenue minus explicit costs. Here,

$50,000 - $12,000 - $1,000 - $3,000 = $34,000.

Economic profit equals total revenue minus the sum of both explicit and implicit costs. Here,

$50,000 - $12,000 - $1,000 - $3,000 - $35,000 = -$1,000

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3 years ago
Assume that a 4 percent decrease in income results in a 6 percent increase in the quantity demanded of a good. The income elasti
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Answer:

1.5

Elastic

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

Income elasticity of demand = percentage change in quantity demanded / percentage change in income.

6 / 4 = 1.5

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I hope my answer helps you

3 0
3 years ago
After the financial crisis, consumers' incomes fell. How does it affect concert demand and its ticket price? A) Demand for conce
Marysya12 [62]

Answer:

B) Demand for concert decreases. As a result of the shift, ticket price decreases.

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A shift in demand that is as a result of other factors except for price results in a shift of demand. A reduction of price as a result of the financial crises will lead to a shift of demand to the left.

Demand for cinema tickets will reduce at all price level.

Referring to the attached diagram the demand shift will result in lower quantity demanded from Q to Q2.

Also there is a reduction of equillibrum price from P to P2.

8 0
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What is <br> Variable cause
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Answer:

The idea is that one variable is the effect of another variable or, to say it another way, that one variable precedes and/or causes another. The dependent variable is the variable to be explained (the 'effect”). The independent variable is the variable expected to account for (the “cause” of) the dependent variable.

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<h3>Follow me for more answer</h3>
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A company that produces running shoes specifically for customers with low arches, utilizes a market-orientation approach and lik
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Answer: The correct answer is "c. employs customer relationship management strategies.".

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3 years ago
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