<span>The answer is that the government will be forced to spend $15,000,000.
government imposes a price floor on wheat at $5
there will be a surplus of $3,000,000
</span><span>the government will be forced to spend = $5 x $3,000,000 = $15,000,000</span>
Answer:
Explanation:
In a situation such as this one the individual workers and their families may be better off or may actually do worse due to the real wage rises in terms of agricultural goods but the real wage in terms of the manufactured goods will actually fall. Therefore it depends on the worker's unique situation and in which sector they are in which determines if they are better or worse.
Answer:
- a. <em>Break-even quantity:</em> <u>28,000 pens</u>
- b<em>. Price</em>: <u>$1.51 per pen</u>
Explanation:
1. Break-even quantity
<u>a) Revenue, R(x)</u>
The monthly revenue is the product of the price by the number of units sold in the month.
Naming x the number of pens sold in the month:
<u>b) Cost, C(x)</u>
<u />
The monthly cost is the sum of the fixed cost per month plus the variable costs:
- C(x) = $21,000 + 0.25 × x = 21,000 + 0.25x
<u>c) Break-even</u>
Break-even is the point when the revenue and the total costs are equal, this is, when the profit is zero. Write the equation and solve:
Hence, the break-even quantity is 28,000 pens.
2. Price pens must be sold to obtain a monthly profit of $18,000
Profit = Revenue - Total cost
- P(x) = x.p - [ 0.25x + 21,000]
Where p is the price.
- P(x) = x.p - 0.25x - 21,000
Substitute the quantity demanded, x, with 31,000, and the profit, P(x) with 18,000:
- 18,000 = 31,000p - 0.25(31,000) - 21,000
Solve for p and compute:
- 31,000p = 18,000 + 7,750 + 21,000
That is $1.51 per pen.
Answer:
To determine the total amount of money that I will have in my account at the time of my retirement, we must consider the total amount paid into the PIMCO account during the last 15 years, and add to this value the potential amount to be paid in the next 20 years in the Vanguard account.
Thus, during the previous 15 years, I have deposited 700 dollars per month in my PIMCO account, with which I have a cumulative total of $ 126,000 (700x12x15). Also, I will potentially deposit another $ 168,000 (700x12x20) in the Vanguard account for the next 20 years.
Therefore, over the 35 years of savings, once the time has come to retire, I will have $ 294,000 in my retirement investment.
Answer:
Annual deposit= $188,842.66
Explanation:
Giving the following information:
Williamsburg Nursing Home is investing in a restricted fund for a new assisted-living home that will cost $6 million.
n= 15 years
i= 10%
We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (6,000,000*0.10)/[(1.10^15)-1]
A= $188,842.66
