When the long run equilibrium is re-established, the price will be the amount at which a pound was selling initially, which is $3.25 per pound.
The announcement that mad cow disease has been discovered in the United states will momentarily lowers the demand for beef and the price will be forced to come down. But on the long run, the initial equilibrium price will be re-established.
Answer:
Situational Factor
Explanation:
The factor has to do with Jane's involvement in the task of buying the blanket. Jane cannot afford to drive 50 miles to buy the blanket at a cheaper price because she works a full time job and takes care of her three children. although it is cheaper she cannot afford the time it takes to drive 50 miles on her busy schedule and finds it easier to order it online as it will be delivered to her door step.
Answer:
![\left[\begin{array}{ccccc}&January&February&March&Quarter\\$sales&24500&37700&32500&94700\\$Desired ending&9425&8125&3462.5&3462.5\\$Total Needs&33925&45825&35962.5&115712.5\\$beginning&2770&9425&8125&2770\\$Production Requirement&31155&36400&27837.5&95392.5\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccccc%7D%26January%26February%26March%26Quarter%5C%5C%24sales%2624500%2637700%2632500%2694700%5C%5C%24Desired%20ending%269425%268125%263462.5%263462.5%5C%5C%24Total%20Needs%2633925%2645825%2635962.5%26115712.5%5C%5C%24beginning%262770%269425%268125%262770%5C%5C%24Production%20Requirement%2631155%2636400%2627837.5%2695392.5%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Explanation:
We need to recalcualte the desired ending inventory
as currently they are calcualte at 20% and we want it at 25% we do cross multiplication
Jan: 7,540 / 20 x 25 = 9,425
We divide by 20 to get the value of a single percent f sales and then we multiply to 25 as it is our desired amount
Feb: 6,500 / 20 x 25 = 8,125
March: 2,770 / 20 x 25 = 3,462.5
Next we adjsut6 the beginning inventory for January as it is 2,770 instead of 4,900 and we can determiante the production budget need for the quarter
Answer:
The correct answer is: continue operating, exit the market.
Explanation:
The total revenue of a firm is $1,250.
The variable cost is $1,000.
The total fixed cost is $500.
At this level of output, the firm is maximizing profit.
The total cost here is
= TFC + TVC
= $500 + $1,000
= $1,500
The total cost incurred is greater than the total revenue earned. This means that the firm is having losses. The firm will not shut down in the short run as it will operate until the variable cost is being covered.
But in the long run, the firm will exit the market as it will need to cover all the costs to continue operating.
Answer:
$36 billion
Explanation:
The formula to compute the GDP under the income approach is shown below:
GDP = Interest payments + profits + rent + wages
$65 billion = $15 billion + $7 billion + $7 billion + wages
$65 billion = $29 billion + wages
So, the wages equal to
= $65 billion - $29 billion
= $36 billion
The net exports or exports less imports values are ignored under the income approach as this are used under the expenditure approach
