Answer:
A: Can reduce both frictional unemployment and the natural rate of unemployment.
Explanation:
Public policy can reduce both frictional unemployment and the natural rate of unemployment.
Answer:
L-shaped, beginning at 2PB and 1J
Explanation:
Indifference Curve is the graph representing product combinations, which give consumers the same level of satisfaction. Its slope is Marginal Rate of substitution (MRS), which implies sacrifise of a good to gain other good, satisfaction level remaining same.
Perfect Complements are the goods, used jointly to satisfy a particular consumer want, in a particular ratio.
John eats peanut butter & jelly in a particular proportion of (2:1) ; this implies that these are perfectly complementary goods for John.
Perfect Complements have right angled or L shape indifference curve. Their slope i.e MRS = 0. Such, as the goods have zero substitutability, no amount of good one will be sacrifised to gain any amount of good two. They would only be used in a particular ratio, represented by a ray from origin, L mid point.
And the 'L curve' coordinates depend on the fixed ratio of their complementary use. So, it would be (PB,J) = (2,1)
Her actions will be great!
Answer: The welfare of China would probably be reduced due to the competition with Indian market. The <u>prices of the goods they are selling would reduce</u>, and they would have to think of strategies in order for their buyers to be more attracted to their offers instead of the Indian ones. With less income in Chinese economy, salaries would also decrease and the prices of some products would rise, resulting in an increase in poverty rates.
For the U.S., such a decision wouldn't affect their welfare in a bad way. Being the <u>largest Chinese market buyer, U.S. would have more options to choose its products</u>, and would <u>probably buy them for a smaller price</u>, since India would try to compete with China by diminishing the products' prices in order for them to become more attractive. Then, buying the same products spending less money, the welfare rates would increase, since the goods would become less expensive and the wages would be mantained.
Answer:
Manufacturing Overheads = $56100
Explanation:
The conversion cost defined simply is the cost involved in turning the raw material or direct material into the finished products. Conversion cost is calculated by adding the direct labor cost and the manufacturing overhead cost.
Conversion cost = Direct labor + Manufacturing overheads
As we know that the manufacturing overhead is 55% of conversion cost, then the direct labor cost is 45% of conversion cost.
If 45% of conversion cost is $45900, then the total conversion cost will be,
Conversion cost = 45900 * 100/45 = $102000
Manufacturing Overheads = 102000 - 45900 = $56100
