Answer:
a. Which country has the absolute advantage in producing dates?
Mali
b. Which country has the absolute advantage in producing grain?
None
c. Which country has the competitive advantage in producing dates?
Mali
d. Which country has the comparative advantage in producing grain?
Ireland
Explanation:
Opportunity cost of producing dates:
Ireland = 10 / 5 = 2 tons of grains
Mali = 10 / 25 = 0.4 tons of grains
Opportunity cost of producing grains:
Ireland = 5 / 10 = 0.5 tons of dates
Mali = 25 / 10 = 2.5 tons of dates
Answer: I found the complete question on Google:
By 2017, McDonald's had stopped selling Chicken McNuggets and other products made from chickens fed antibiotics. The change increased McDonald's costs, but an article in the Wall Street Journal noted that "...McDonald's ability to raise its prices is limited because of stiff competition."Source: David Kesmodel, Jacob Bunge, and Annie Gasparro, "McDonald's to Curb Antibiotics in Chicken," Wall Street Journal, March 4, 2015. Does this "stiff competition" mean that the demand curve for McDonald's Chicken McNuggets is horizontal? Briefly explain.
And the correct answer is: "B. No, the demand curve is not horizontal because Chicken McNuggets are not identical to other chicken products.".
Answer:
The entry to record the sales transactions and related taxes for Quartz Company would be as follows:
Debit Credit
Cash $23,100
Sales $22,000
Sales taxes $1,100
Cash $13,780
Sales $13,000
Sales taxes $780
Explanation:
In order to prepare the entry to record the sales transactions for Quartz Company we would have to make the following calculation:
According to the given data On April 10, the register totals are sales $22,000 and sales taxes $1,100, hence, cash=$22,000 +$1,100=$23,100
Therefore, the entry to record the sales transactions for Quartz Company would be as follows:
Debit Credit
Cash $23,100
Sales $22,000
Sales taxes $1,100
In April 15 the cash is $13,780, which includes a 6% sales tax, therefore, the sales would be calculated as follows:
sales=$13,780/6%
sales=$13,000
hence, sales taxes=$780
The entry to record the sales transactions and related taxes for Quartz Company would be as follows:
Cash $13,780
Sales $13,000
Sales taxes $780
Answer:
B) Country A uses fewer resources to produce corn than Country B does.
Explanation:
An absolute advantage is a situation where a country or a company can produce some goods and services using fewer inputs compared to competitors. The company can produce more quantity of using the same amount of inputs than others. A country with an absolute advantage will manufacture a product at a lower cost than other countries or companies.
Absolute advantage enables companies and countries to gain from trade. Through specialization, a company will focus on what it can produce at a lower cost than others, and sell it. Country A has an absolute advantage if it can produce corn at a lower cost than country B.
