$2430
If the current rate is given and it is reflecting that the United States currency is trading at a premium to the New Zealand dollars as 1 New Zealand dollar will be equal to .801, so when we are converting the 3,000 New Zealand dollars we will be overall getting
=[Total amount in New Zealand dollar x exchange rate]
= (3000*.81)
= $2430
Hence the total United State dollars will be $2430
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Answer:
b.The good is a necessity
Explanation:
The price elasticity of demand = percentage change in quantity demanded/ percentage change in price
3% / 12% = 0.25
When the coefficient of elasticity is less than one, demand is inelastic.
Inelastic demand means that when price increases, there is little or no change in quantity demanded.
Necessity goods are goods that are very important to consumers and thus they tend to have an inelastic demand. For example, medications.
Substitute goods are goods that can be used in place of another good because of their similarity. E.g. butter and margarine
Goods with many substitutes have an elastic demand. If price of a good increases, consumers can easily shift consumption to substitute goods.
Narrowly defined goods have an elastic demand because it is easier to find subsituites for such goods.
Demand is more elastic in the long run because consumers have more time to search for substitutes.
I hope my answer helps you
Answer:
It is a disadvantage to continue processing QI. The lost on profit is= $5500
Explanation:
Product QI has been allocated $18,300 of the total joint costs of $39,000.
A total of 2,500 units of product QI are produced.
Product QI can be sold at the split-off point for $14 per unit.
It can be processed further for an additional total cost of $10,500 and then sold for $16 per unit.
<u>Split-off point:</u>
Sales= 2500q*$14=$35000
Total cost=$18300
Profit=$16700
<u>Post-split-off:</u>
Sales=2500*16=$40000
Cost previous split-off=$18300
Added cost= $10500
Profit=$11200
Comparing profits (16700>11200) it is not beneficial to continue processing QI products.
<span>Answer:
the free-rider predicament
Even if one party fails to keep up its end of the bargain in a public area, others who are taking care of the resource may feel it is unnecessary to keep up their responsibilities because of free riders.</span>
SMART is an acronym that means specific, measurable, achievable, relevant. The answer is D.