Answer:
C) Z is a substitute for input X in the production of Y.
Explanation:
Goods are substitutes if they can be used in place of each another. For example, pen and pencil can be considered as substitute.
If the price of a good decreases, the demand for that good increases and the demand for the subsituite falls. X and Z are substitutes
Complements are goods that are consumed together e.g. bread and butter.
Inputs are goods used in the production of output. If the price of input increases, the price of the output increases. Therefore, X is an input in the production of Y.
Since X and Z are substitutes, and X is an input for Y.
I hope my answer helps you
Inadequate time.
The more time on spends on an activity the more proficient the person because, in a situation where everything is timed with very restrictive deadlines and timelines to meet up, it is very likely that the person will just do the job so as to meet the requirements and wont add extras that is suppose to display addition out of the box creative ingenuity
Answer:
B) $6,400
Explanation:
The equation for the aggregate consumption spending function:
- C = $5,000 + [$70 / ($400 - $300)] YD = $5,000 + ($70 / $100) YD = $5,000 + 0.7 YD
If YD = $2,000
total value of aggregate consumer spending = $5,000 + (0.7 x $2,000) = $5,000 + $1,400 = $6,400
Answer:
Explanation:
Cost of inventory = Purchase cost + Transportation cost - Purchase return - Purchase discount
Purchase cost = 23,400
Transportation cost = 690
Purcahse return = 1300
Purchase discount = (23400 - 1300)*3% = 663
Cost of inventory = 23,400 +690-1300-663 = 22,127
