Answer:
This question is incomplete, the options are missing. The options are the following:
A) The old price times the change in quantity.
B) The old price times the new quantity.
C) The new price times the change in quantity.
D) The old quantity times the change in price.
And the correct answer is the option D: The old quantity times the change in price.
Explanation:
To begin with, the name of <em>"Price Effect"</em> refers to a concept known in economics as the situation where a consumer is affected by the change in the price that a good he plans to buy staying everything else constant. This effect is quantifiable as the old quantity times the change in price when we see the representation in a graphic due to the fact that when the demand curve moves the new position will be established by that new price that have affected the consumer given the same old quantity.
Answer:
(A) True
Explanation:
Differential cost is the difference between the cost to produce Product O and produce Product P; in this case it’s the additional cost of $13 per pound to produce
So the statement “The differential cost of producing Product P is $13 per pound” is true
Steel was important to the second industrial revolution majorly because of its properties and its potential uses. Because steel is very strong, light and cheap, it was found ideal for many purposes. Steel was used to make many of the new inventions that characterized that period, a good example of this is rail road.
Answer:
$375,000
Explanation:
The computation of the amount included in the natural resource is shown below:
= Cost of land & natural resource rights + cost of extraction during year + equipment used for mining + exploration & drilling cost
= $200,000 + $35,000 + $100,000 + $40,000
= $375,000
Hence, all the cost is inlcuded for natural resource except asset retirement obligation for restoring the land as this is not relevant so we ignored it
Answer:
C. Sell a product similar to that sold in the home country, but include minor adaptations.
Explanation:
Selling the regular menu along with dishes from the host country is an example of the strategy of selling a product similar to that sold in the home country, but include minor adaptations. This is an strategy that companies tend to use when going to other markets, because there are differences among them that include customs and culture, that can affect the way in which a product is perceived by people. In the food sector, these differences have a big impact as the food people eat in each country can be very different. So, when entering a new market, offering the regular menu the company has with dishes that are native to the home country can help to succeed in that specific market.
