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3 years ago

Factor substitution possibilities render the problem of resource scarcity to be

1 answer:

ozzi3 years ago

5 0

Factor substitution possibilities render the problem of resource scarcity to be manageable, but not necessarily irrelevant. Therefore, it's<u> logically correct.</u>

Factor substitution simply means when one variable factor is substituted for another. Resource scarcity occurs when resource demand is more than the supply of resources.

The problem of scarcity is dependent on the demand and supply function. Therefore, an increase in the price of a resource will lead to scarcity. Factor substitution possibilities render the problem of resource scarcity to be manageable. In this case, one input can be substituted for another.

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Midyear on July 31st, the Andrews Corporation's balance sheet reported: Total Liabilities of $81.319 million Cash of $8.040 mill

hoa [83]

Answer: $104.369 million

Explanation:

Given that,

Total Liabilities = $81.319 million

Cash = $8.040 million

Total Assets = $190.768 million

Total Common Stock = $5.080 million

Therefore,

Total assets = Total liabilities + Total stockholders' equity

$190.768 million = $81.319 million + Total stockholders' equity

Total stockholders' equity = $190.768 million - $81.319 million

= $ 109.449 million

Total stockholders' equity = Total common stock + Retained earnings

Retained earnings = Total stockholders' equity - Total common stock

= $ 109.449 million - $5.080 million

= $104.369 million

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3 years ago

When will a minimum wage be an effective price control? When it is a ________a. Maximum "price" that is above the equilibrium pr

labwork [276]

Answer:

c. Minimum "price" that is above equilibrium price

Explanation:

if the minimum wages is below equilibrium then it will be ineffective as there wasn't any agent willing to trade his labor at this rate.

The minimum wages must be placed above equilibrium to be effective. This will force both, laborers who were willing to work for less and employees whose intention were to pay less than minimum to trade at minimum wage.

5 0

3 years ago

Lois Bragg owns a small restaurant in Boston. Ms. Bragg provided her accountant with the following summary information regarding

loris [4]

Answer:

Compute the amount of funds Ms. Bragg needs to borrow for June.

$162,850

Determine the amount of interest expense the restaurant will report on the June pro forma income statement.

$0, money is borrowed on June 30th there is no interest expense during June

What amount will the restaurant report as interest expense on the July pro forma income statement

$1,357

Explanation:

accounts receivable May 31 is $56,000.

budgeted cash sales for June $145,000

credit sales for June $591,000

65% of credit sales are collected in current month, 35% collected next month

suppliers are paid on the last day of the month

budgeted cash payments for June 30th = $710,000

cash balance $38,000

how much money does Ms. Bragg need to borrow on June 30?

total cash collections in June = $56,000 (from previous month) + $145,000 (cash sales) + $384,150 (65% of $591,000) = $585,150

payments - cash collected = $710,000 - $585,150 = $124,850

money borrowed on June 30 = $124,850 + $38,000 (desired cash balance) = $162,850

interest expense during July = $162,850 x 10% x 1/12 = $1,357

8 0

3 years ago

Frank keating has a life insurance policy that can be exchanged for a whole life policy without a medical examination. once it h

Alenkasestr [34]

The answer to this question is Convertible Term Insurance. Convertible Term Insurance is a type of insurance where in the policy holder can change a term policy for a whole policy without doing the medical examination that is required to new application of plans. Term insurances is an insurance that has a limited coverage period but it can be renewed and can be convertible to permanent life insurance when the plan is already matured.

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3 years ago

If the hourly wage of German workers is $6, the hourly wage of Canadian workers is $10, and German workers produce half as much

inessss [21]

Answer:

D) Canada since the cost per unit of output will be lower.

Explanation:

A German worker earns $6 per hour with a X productivity, we can assume X = 10 units, so the labor cost in Germany = $6 / 10 units = $0.60 per unit

A Canadian worker earns $10 per hour with a 2X productivity, we can assume X = 10 units, so the labor cost in Canada = $10 / 20 units = $0.50 per unit

Canadian direct labor is 20% more efficient than German labor.

6 0

3 years ago