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timofeeve [1]
3 years ago
11

Suppose that the demand for milk in the United States is represented by the following equation, where P is the price of a gallon

of milk. QD = 200 – 10P The supply of milk is represented by the following equation: QS = –10 + 50P The equilibrium price of a gallon of milk is a) $ (give your answer to two decimals), and the equilibrium quantity is b) million gallons.
Business
1 answer:
Nostrana [21]3 years ago
8 0

Answer:

a.

P = $3.50 per gallon

b.

Equilibrium Quantity = 165 million gallons

Explanation:

a.

The equilibrium price is the price at which Quantity demanded equals quantity supplied. To calculate the equilibrium price using the given equations for demand and supply, we need to equate both equations.

<u>Equilibrium Price (P) calculation</u>

QD = QS

200 - 10P  =  -10 + 50P

200 + 10  =  50P + 10P

210 = 60P

P = 210 / 60

P = $3.50 per gallon

b.

The equilibrium quantity can be calculated by inserting the value of Price (P) in any of the equation for demand or supply.

Equilibrium Quantity = 200 - 10(3.50)

Equilibrium Quantity = 200 - 35

Equilibrium Quantity = 165 million gallons

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During a conference call with the corporate office, you are told by a senior executive that you will be going abroad in the next
vladimir2022 [97]

Answer:

C.Clarify the situation, and ask specific questions about the overseas company's cultural and ethical practices. Also, ask what your company policies are regarding intercultural ethics.

Explanation:

In doing business with foreign cultures one needs to know the expected way transactions are conducted in the country.

A senior executive told you on conference call that you should increase expense amount because when you travel abroad for a trip you will give $5,000 each to top executives of a large account.

In your locale it may be considered bribery, but in the foreign country it may be rude not to give a gift when doing business.

So you need to clarify what acceptable ethical practices are with the foreign company.

6 0
3 years ago
A manager checked production records and found that a worker produced 156 units while working 40 hours. In the previous week, th
andrezito [222]

Answer:

(a) 3.9 units/hour; 3.5 units/hour

(b) 11.43%

Explanation:

(a) Current period productivity:

= Current output ÷ Current labor hours

= 156 units ÷ 40 hours

= 3.9 units per hour

Previous week's productivity:

= Previous week's output ÷ Previous week's labor hours

= 105 units ÷ 30 hours

= 3.5 units per hour

(b) Percentage change in worker's productivity:

= (Change in productivity ÷ Previous week's productivity) × 100

= [(3.9 - 3.5) ÷ 3.5] × 100

= 11.43%

Therefore, the worker's productivity increases by 11.43%.

5 0
3 years ago
Interest can be regarded as the Group of answer choices
Studentka2010 [4]

Answer:

Option (b) is correct.

Explanation:

Interest refers to the amount of money that a lender can earn on giving the loans to the borrowers. Borrower is a person who is liable to pay the interest on the borrowing amount.

Normally, a person is borrowing money or funds from the lender for making investment in a certain types of capital goods.

Interest rate refers to the rate at which lender lends its loanable funds to the borrowers.

4 0
3 years ago
Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 1.1. What is t
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Answer:

a

Explanation:

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6 0
3 years ago
lack of property rights diminish economic growth. diminish economic growth. increases productivity. increases productivity. enco
nikdorinn [45]

The answer is diminish economic growth.

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  • Negative growth is defined as a drop in a company's revenues or earnings, or a drop in an economy's GDP in any quarter. Negative growth is characterized by declining wage growth and a decline of the money supply, and economists consider negative growth as a precursor to a future recession or depression.
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Thus this is the meaning of diminish economic growth.

To learn more about economic growth, refer: brainly.com/question/18964806

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5 0
1 year ago
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