Why language is an important of communication tools?
2 answers:
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Answer:
The isoquants will be straight parallel lines.
Explanation:
In the given secanrio copper or bronze may be used to produce jewellery. The utility derived from use of either one is the same. They are perfectly interchangeable. Therefore copper and bronze are perfect substitutes.
The isoquant curve shows all combinations of input that can be used to produce units of output.
For goods that have perfect substitution the isoquants are straight lines that are parallel to each other. The marginal rate of technical substitution is 1, and isoquant have slope angle of 45° with each axis.
Find attached an illustration of this. So copper is a perfect substitute for bronze.
Answer:
Nominal Cost of Trade Credit = 25.09%
Exact Cost of Trade Credit = 28.03%
Explanation:
given data
buys worth = $1,000
terms = 3/15 n60
pays the bill = 60th day
to find out
Nominal Cost of Trade Credit and Exact Cost of Trade Credit
solution
we know here Discount % and time 60 day and discount period that is
Discount % = 3%
time for Payment = 60 days
and Discount Period = 15 days
so Nominal Cost of Trade Credit will be as
Nominal Cost of Trade Credit = Discount % ÷ (100 - Discount % ) × [ 365 ÷ (time for Payment - Discount Period) ] ..................1
put here value we get
Nominal Cost of Trade Credit = ×
Nominal Cost of Trade Credit = 25.09%
and
Exact Cost of Trade Credit will be here as
Exact Cost of Trade Credit = (1+Discount % ÷ (100%-Discount %))^(365/(time for Payment - Discount Period) - 1 ..................2
put here value we get
Exact Cost of Trade Credit =
Exact Cost of Trade Credit = 28.03%