Answer: $18
Explanation:
Based on the information,
Sales revenue = $65 × 225 = $14625
Cost of goods sold = (45 × $20) + (1125 × $4) + (225 × $14) + (225 × $9)
= $900 + $4500 + $3150 + $2025
= $10575
Gross profit = Sales revenue - Cost
= $14625 - $10575
= $4050
The gross profit for one chainsaw will be:
= $4050/225
= $18
Suppose that you purchased your home in 2014 and believe that, based upon recent
comparable home sales in your vicinity, your home has a market value of $675,000. You
decide to put your home on the market for $720,000 to allow room for future negotiation
towards your desired selling price of $675,000. After several days, you receive a text
message from your broker informing you that prospective buyers have been balking at
making you an offer as they have seen that Zillow is valuing your house online for only
$600,000. Explain whether you have a right to sue Zillow and, if so, under what liability
law(s).
Zillow, a popular online real estate database and marketplace, provides estimates of home values through its proprietary Zestimate tool. However, in the case where a seller disagrees with Zillow’s valuation of their property, the seller does not have the right to sue Zillow, and there are no legal grounds for a lawsuit.
In addition, the seller voluntarily uses the tool to estimate their property's worth. Although Zillow uses a complex algorithm that considers various factors to determine the value of a property, the tool is not perfect, and its estimates can be incorrect. A home’s value depends on various factors, including location, condition, recent sales prices of comparable homes in the area, and market trends. It is essential to note that Zillow’s Zestimate tool does not physically visit homes, and, therefore, may not be able to factor in some critical variables affecting the value of a property.
As a result, Zillow's online estimates should be used only as a starting point for determining the property's value. Ultimately, the actual value of the property will be determined by the final price a buyer is willing to pay, the seller’s selling price, and the current market conditions. Therefore, it is essential to get a professional appraisal to get an accurate valuation of the property. In conclusion, a seller does not have the right to sue Zillow as there are no grounds for a lawsuit.
Know more about Online real estate here:
https://brainly.com/question/30087960
#SPJ8
You are a senior sales and marketing analyst for a major retailing firm in Idaho. The marketing manager just stopped by your office with a very frustrated look on her face. She tells you that she is confused as to why, every time the company raises the sales price of its products, total revenue for the company declines.
Based on this information, which of the following explanations do you give her for why this situation occurs?
a. The demand for the company’s products is inelastic, so total revenue declines when prices are raised.
b. The demand for the company’s products is elastic, so total revenue declines when prices are raised.
c. The demand for the company’s products is elastic, so unit sales increase when prices are raised.
d. The demand for the company’s products is inelastic, so unit sales increase when pricesare raised.
e. The demand for the company’s products is elastic, so fixed costs increase when prices are raised
Answer:
b. The demand for the company’s products is elastic, so total revenue declines when prices are raised.
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
If prices are increased, the quantity demanded falls more than the percentage rise in price. As a result total revenue falls.
Demand is inelastic if a change in price has little or no effect on quantity demanded.
If demand is inelastic and prices are increased, the change in quantity demanded would be less than the change in price , as a result , total revenue would rise.
I hope my answer helps you
identify whether or not each challenge is one that china has faced in its efforts to become a major player in the global market for consumer electronics and other tech sector products.
The challenge is one that china has faced in its efforts to become a major player in the global market for consumer electronics and other tech sector products.
What is the market?The entire number of purchasers and sellers in the area or location under consideration is referred to as the marketplace. Earth, as well as several countries, regions, states, and urban center, maybe the subject.
The challenges faced by the china are as follows.
Challenge
A culture that does not value alternative thinking
B. inflexible college admittance policies based solely on test results
Not Challenge
A. lack of authorities funding for innovative research
B. poor-quality, pre-university education
C. a culture that does not value hard work.
Therefore, As a result, the challenges' china faces in the global market for consumer electronics are as follows.
Learn more about the market here:
https://brainly.com/question/13414268
#SPJ1
How does international trade affect the lives of U.S. citizens?
Answer:
The United States is the world's largest economy and the largest exporter and importer of goods and services. Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.
In 2017, the U.S. was the world's largest goods and services trading nation, with exports of goods and services totaling $2.35 trillion.
• U.S. goods and services trade (exports plus imports) totaled $5.3 trillion during 2017, up 6.5% ($321 billion) from 2016, and up 31% from 2007. U.S. goods trade totaled $3.9 trillion and U.S. services trade totaled $1.3 trillion.
• Agricultural goods accounted for $264 billion in total (two way) U.S. trade during 2017. Exports were $143 billion; Imports $121 billion; and the trade surplus was $22 billion.
• Manufacturing (a subcategory of goods trade) accounted for $3.3 trillion in total (two way) U.S. trade during 2017, up 5.3% from 2016, and up 24% from 2007.
• Services accounted for $1.3 trillion in total (two way) U.S. trade during 2017, up 5.6% from 2016, and up 56% from 2007. The United States is the largest services trading country in the world.
Trade expansion benefits families and businesses by:
• Supporting more productive, higher paying jobs in our export sectors
• Expanding the variety of products for purchase by consumers and business
• Encouraging investment and more rapid economic growth
Trade keeps our economy open, dynamic, and competitive, and helps ensure that America continues to be the best place in the world to do business.
management approval of sanlam
Answer:
Hello!
What is nedded here?
BE3.7 (LO 2), AN Helen is looking at the partial information left behind by her former supervisor, Lyle. She knows he used the high-low method to estimate the cost function because she sees his cryptic “H-L” scribbled on the page. She sees that the high point related to 35 units at a total cost of $328. She also finds the total fixed cost estimate of $97. She can’t find the low point written anywhere, and she needs the variable cost in order to estimate next month’s costs. Help Helen determine the variable cost per unit and then predict next month’s costs if 33 units are made.
1. The variable cost per unit is $6.60.
2. Next month's costs if 33 units are made will be as follows:
Fixed costs = $97Variable costs = $217.80Total costs = $314.80What is the high-low method?The high-low method is a cost accounting technique to separate the total fixed costs from the variable costs.
Using the high-low method, the fixed costs are separated from the total costs to determine the variable costs (in total and per unit).
Data and Calculations:Total production units = 35
Total costs = $328
Estimated total fixed costs = $97
Total variable costs = total costs - fixed costs
= $231 ($328 - $97)
Unit cost per unit = $6.60 ($231/35)
Next month's Costs at 33 units:
Fixed costs = $97
Variable costs = $217.80 ($6.60 x 33)
Total costs = $314.80
Thus, the variable cost per unit is $6.60, while the total costs for next month will be $314.80, using the high-low costing method.
Learn more about the high-low costing method at https://brainly.com/question/14348610
#SPJ1
what is your analysis on walmart financial health as of january 2021 compare to 2022
What kind of economy uses a free-enterprise system?
Answer:
The U.S. economy is a free enterprise system.
Explanation:
That means that individuals — and not the government — own most of our country's resources.
better mousetraps has come out with an improved product, and the world is beating a path to its door. as a result, the firm projects growth of 21 percent per year for 4 years. by then, other firms will have copycat technology, competition will drive down profit margins, and the sustainable growth rate will fall to 6 percent. the most recent annual dividend was div 0 = $1 per share. (15 points)
a. What are the expected values of DIV 1, DIV 2, DIV 3, and DIV 4?
b. What is the expected stock price 4 years from now? The discount rate
is 10%.
c. What is the stock price today?
d.Find the dividend yield, DIV 1/ P 0 .
e. e. What will next year’s stock price, P1, be?
f. What is the expected rate of return to an investor who buys the stock
now and sells it in 1 year?
As per the given information, there is a growth rate of the firm by 21% or 0.21. The same firm has a dividend that has been divided on the basis of $1. There has been few situations given, in according to the same, solutions will be as follow:
(a) DIV 1 =Do (1+g) = 1*(1+0.21 ) =$1.21
DIV 2= 1.21*(1+0.21) =$1.46
DIV 3 = 1.46 *(1+0.21) =$1.77
DIV 4 = 1.77 * (1+0.21)=$2.14
(b) Sustainable growth rate is 6% or 0.06
Discount rate is 10% or 0.10.
DIV 5 =DIV 4*(1+g) = 2.14 *(1+0.06) = $2.2684
Price in 4 year =DIV 5/(r-g) = 2.2684 /(0.10-0.06) = 2.2684 /0.04
= $ 56.71
(c) Price today = Po = [PVF10%,1*D1]+[PVF10%,2*D2] +......[PVF10%,4*TV]
= [0.90909*1.21]+[0.82645*1.46]+[0.75131*1.77]+[0.68301*2.14]+ [0.68301*56.71]
= 1.089+ 1.197+ 1.327+ 1.455+ 38.56
= $43.63 per share
(D)Dividend yield =D1/P0
= 1.21/43.63
= 0.00277 = 2.77%
(e) Next year price = [0.90909*1.46]+[0.82645*1.77]+[0.75131*2.14]+ [0.75131*43.63 ]
= 1.314+ 1.451+ 1.605+ 32.722
= $ 37.09 per share
(f) Expected rate of return =[ P1-Po+D1]/Po
=(37.09 - 43.63 + 1.21)/43.63
=-5.33 /43.63
= -0.122 or = -1.22%
Learn more about dividend from here:
https://brainly.com/question/25845157
#SPJ4
Specify which would be the most appropriate fiscal policy (expansionary / contractionary) response to each of the following scenarios:
A recession._____ (expansionary / contractionary)
A stock market crash that hurts consumer and business confidence. ______ (expansionary / contractionary)
Extremely rapid growth of exports.______ (expansionary / contractionary)
Rising inflation.______ (expansionary / contractionary)
A rise in the natural rate of unemployment.______ (expansionary / contractionary)
can yall plz help me with this science qustion the choses are masses,shapes,and sizes ....also ill give brainlest
Answer:
the answer is the mass.
Answer:
the answer is the mass
the answer is the mass
Which stakeholder register entry is inadequate
The stakeholder register entry is inadequate is a marketing leader.
Who is a stakeholder?A stakeholder is a party that has an interest in a company and can either affect or be affected by the business.
A marketing leader is not an adequate entry in a stakeholder register. There are situations in which communicating to people face-to-face is the best way to get something accomplished.
When conversing with emotionally charged people on a complex topic, communication over text or email can be cumbersome and ineffective.
Learn more about stakeholder on:
https://brainly.com/question/4404879
#SPJ1
Which of the following actions is a good example
of protecting sensitive information? Check all of
the boxes that apply.
using a paper shredder to discard documents
that contain personal medical information
keeping patient files in a secure electronic file
system with limited access
maintaining a confidential patient consultation
area in a doctor's office
discussing private matters with patients in the
waiting room
Answer:
A,B,C
Explanation:
Answer:
“Using a paper shredder to discard documents that contain personal medical information”, “Keeping patient files in a secure electronic file system with limited access” and “Maintaining a confidential patient consultation area in a doctor’s office”
Explanation:
Question 2 of 8
2.0 Points
Income earned by the business from activities unrelated to its primary operations would be
classified as........ in the statement that measures its performance for a particular period.
Answer:
This type of income is known as non-operating income in the financial statements
Explanation:
Non-operating income, as the world implies, is the income that a firm earns from activities that are not related to its main economic activity. An example would be a mall, whose main activity is the rental and management of commercial real estate, earning some income from short-term investments in the secondary market. This interest would be reported as non-operating income, and would be treated as such for financial, accounting, and tax purposes.
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?
Answer:
≈ 9644 quantity of card
Explanation:
given data:
n = 4 regions/areas
mean demand = 2300
standard deviation = 200
cost of card (c) = $0.5
selling price (p) = $3.75
salvage value of card ( v ) = $ 0
The optimal production quantity for the card can be calculated using this formula below
= u + z (0.8667 ) * б
= 9200 + 1.110926 * 400
≈ 9644 quantity of card
First we have to find u
u = n * mean demand
= 4 * 2300 = 9200
next we find the value of Z
Z = ( \(\frac{p-c}{p-v}\) )
= ( 3.75 - 0.5 ) / 3.75 = 0.8667
Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV (0.8667 )
next we find б
б = 200\(\sqrt{n}\) = 400
Elkhorn Company purchased merchandise on account from Springhill Company for $42,000, terms 2/10, n/30. Elkhorn returned merchandise with an invoice amount of $8,000 and received full credit. a. If Elkhorn Company pays the invoice within the discount period, what is the amount of cash required for the payment
If Elkhorn Company purchased merchandise on account from Springhill Company for $42,000, terms 2/10, n/30. Elkhorn returned merchandise with an invoice amount of $8,000 and received full credit. a. If Elkhorn Company pays the invoice within the discount period, what the amount of cash required for the payment will be is: $33,320
First step is to calculate the net purchases using this formula
Net purchases=Net purchases- Purchase returns
Let plug in the formula
Net purchases=$42,000-$8,000
Net purchases=$34,000
Now let determine the cash payment using this formula
Cash payment=Net purchases-Purchase discounts
Let plug in the formula
Cash payment=$34,000-($34,000×2%)
Cash payment=$34,000-$680
Cash payment=$33,320
Inconclusion if Elkhorn Company purchased merchandise on account from Springhill Company for $42,000, terms 2/10, n/30. Elkhorn returned merchandise with an invoice amount of $8,000 and received full credit. a. If Elkhorn Company pays the invoice within the discount period, what the amount of cash required for the payment will be is: $33,320
Learn more here:
https://brainly.com/question/16868302
what are 2 different types of budgets and discuss how they complement each other?
There are two main types of budgets: operational budgets and financial budgets.
Operational budgets are used to plan and monitor the day-to-day operations of a business, and typically cover a period of one year. These budgets include items such as revenue projections, production costs, and operating expenses. Operational budgets are crucial for ensuring that a business stays on track and meets its operational goals. Financial budgets, on the other hand, are focused on the long-term financial health of a business. They include items such as capital expenditures, financing costs, and cash flow projections. Financial budgets are used to help businesses plan for the future and make strategic decisions about investments and growth. These two types of budgets complement each other by providing a comprehensive view of a business's operations and financial health. Operational budgets help to ensure that day-to-day activities are aligned with the overall goals of the business, while financial budgets provide a roadmap for achieving long-term success. By using both types of budgets, businesses can make informed decisions about resource allocation, identify potential risks, and maintain a strong financial position over the long term.
for more questions on budgets
https://brainly.com/question/1619150
#SPJ11
(Just need some ideas and inspiration) What do you consider the most important challenge that will face people in the United States in the years ahead?
Food security, hunger, poverty, population growth, pollution, heatwaves, droughts, and climate change are all interconnected.
What is Food security?Food security refers to the availability of food in a nation and the capacity of its citizens to obtain, afford, and procure enough food.
The United Nations Committee on World Food Security defines food security as everyone having constant physical, social, and economic access to enough, safe, and nourishing food that satisfies their dietary needs and food preferences for an active and healthy life.
Another aspect of food security is the accessibility of food regardless of class, gender, or area.
Food security was a problem many thousands of years ago, as shown by the fact that central governments in ancient China and ancient Egypt were known to release food from storage during famines.
Learn more about Food security, here
https://brainly.com/question/12425982
#SPJ1
Keller Company makes two models of battery-operated boats, the Sandy Beach and the Rocky River. Basic production information follows:
Sandy Beach Rocky River
Direct materials cost per unit $ 20 $ 28
Direct labor cost per unit 15 19
Sales price per unit 70 90
Expected production per month 1,200 units 960 units
Keller has monthly overhead of $22,360, which is divided into the following activity pools:
Setup costs $ 5,200
Quality control 11,000
Maintenance 6,160
Total $ 22,360
The company also has compiled the following information about the chosen cost drivers: Sandy Beach Rocky River Total
Number of setups 14 26 40
Number of inspections 140 300 440
Number of machine hours 1,400 1,400 2,800
Required:
Suppose Keller uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.
Calculate the production cost per unit for each of Keller’s products under a traditional costing system.
Calculate Keller’s gross margin per unit for each product under the traditional costing system.
Select the appropriate cost driver for each activity pool and calculate the activity rates if Keller wanted to implement an ABC system.
Assuming an ABC system, assign overhead costs to each product based on activity demands.
Calculate the production cost per unit for each of Keller’s products with an ABC system.
Calculate Keller’s gross margin per unit for each product under an ABC system.
Compare the gross margin of each product under the traditional system and ABC.
1) Overhead rates using the traditional costing method = budgeted overhead costs/Machine hours
Overhead rates using the traditional costing method = 22360/2800
Overhead rates using the traditional costing method = $7.9857
Amount of overhead assigned to Sandy beach = Overhead rates using the traditional costing method * Machine hour
Amount of overhead assigned to Sandy beach = 7.9857×1400
Amount of overhead assigned to Sandy beach = $11180
Amount of overhead assigned to Rocky River = Overhead rates using the traditional costing method * Machine hour
Amount of overhead assigned to Rocky River = 7.9857×1400
Amount of overhead assigned to Rocky River = $11180
What is Overhead cost?Costs associated with running a business that is not directly tied to the creation of goods or services but is still required.
2) Sandy Beach Rocky River
Direct Material 20.00 28.00
Direct Labor 15.00 19.00
Overhead Cost 9.32 11.65
Production cost per unit 44.32 58.65
3) Sandy beach :
Gross Margin = Sale Price—Production cost per unit
Gross Margin = 70-44.32
Gross Margin = 25.68
Rocky River :
Gross Margin = Sale Price - Production cost per unit
Gross Margin = 90-58.65
Gross Margin = 31.35
4) Activity Cost Pool Estimated
Overhead Expected Use of Cost
Drivers per Activity Activity Rate
[a] [b] [c] [b/c]
Setup costs 5,200 40 130.00 per setup
Quality control 11,000 440 25.00 per inspection
Maintenance 6,160 2800 2.20 per MHR
5) Assign overhead costs :
Sandy beach = $ 8400
Rocky River = $ 13,960
6) Sandy Beach Rocky River
Direct Material 20.00 28.00
Direct Labor 15.00 19.00
Overhead Cost 7.00 14.54
Production cost per unit 42.00 61.54
7) Sandy beach
Gross Margin = Sale Price—Production cost per unit
Gross Margin = 70-42
Gross Margin = 28
Rocky River
Gross Margin = Sale Price - Production cost per unit
Gross Margin = 90-61.54
Gross Margin = 28.46
8) Sandy Beach Rocky River
Gross Margin as per Traditional Costing 25.68 31.35
Gross Margin as per Activity Based Costing 28 28.46
Difference 2.32 2.89
Therefore, refer to the image for more detailed answers.
Learn more about Overhead cost, here;
https://brainly.com/question/14811739
#SPJ9
For unit 5, the journal will focus on your personal growth and development strategy to deliver your personal mission and vision developed in unit 4. Review Figure 5.21 in section 5.7, Formulating Organizational and Personal Strategy with the Strategy Diamond in the text, Management Principles. Create a graphic or an outline capturing the topics in Figure 5.21 and populate the first field of the graphic/outline with your personal mission and vision from unit 4. In the diamond section list 2-3 strategies for achieving your personal mission and vision. In the last section, create a list of 3-4 personal goals and objectives related to your personal mission and vision. You will use the list of goals and objectives in unit 6 to expand them to comprise S-M-A-R-T goals.
Be sure that your Learning Journal entry is a minimum of 350 to 500 words.
Answer:
strategy to deliver your personal mission and vision developed in unit 4. Review Figure 5.21 in section 5.7, Formulating Organizational and Personal Strategy with the Strategy Diamond in the text, Management Principles. Create a graphic or an outline capturing the topics in Figure 5.21 and populate the first field of the graphic/outline with your personal mission and vision from unit 4. In the diamond section list 2-3 strategies for achieving your personal mission and vision. In the last section, create a list of 3-4 personal goals and objectives related to your personal mission and vision. You will use the list
Explanation:
A learning journal is a type of reflective writing where one records their thoughts, reflections, and observations about what they have learned, experienced, or achieved.
What is a Learning Journal?Through journaling, you may have a continuous conversation with yourself about your goals, including what they are, how you plan to achieve them, and any difficulties you encounter along the way. Writing down your goals and keeping track of them makes them real, which boosts accountability and drive. When writing about and discussing their community service projects, students are expected to incorporate a list of essential words and phrases into their journal entries.
Strategy to deliver your personal mission and vision developed in unit 4. Review Figure 5.21 in section 5.7, Formulating Organizational and Personal Strategy with the Strategy Diamond in the text, Management Principles. Create a graphic or an outline capturing the topics in Figure 5.21 and populate the first field of the graphic/outline with your personal mission and vision from unit 4. In the diamond section list 2-3 strategies for achieving your personal mission and vision. In the last section, create a list of 3-4 personal goals and objectives related to your personal mission and vision.
Therefore, learning journal is a type of reflective writing where one records their thoughts, reflections, and observations about what they have learned, experienced, or achieved.
Learn more about learning journal, here:
https://brainly.com/question/30314942
#SPJ2
Required information Skip to question [The following information applies to the questions displayed below.] Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 5.90 Direct labor $ 3.40 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 2.90 Fixed administrative expense $ 2.20 Sales commissions $ 1.20 Variable administrative expense $ 0.45 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units? (Do not round intermediate calculations.)
The total amount of product costs incurred to make 10,000 unit is $150,000.
What is product costs?Product cost means the total costs incurred to create a product including direct labor, direct materials, consumable production supplies, factory overhead etc
What is total amount of product costs incurred to make 10,000 units?
Product cost = Direct materials + direct labor + manufacturing overhead
Product cost = $6 + $3.50 + $1.50 + $4.00
Product cost = $15 per unit
For the 10,000 units = 10,000 units * 15
For the 10,000 units = $150,000.
In conclusion, the total amount of product costs incurred to make 10,000 unit is $150,000.
Read more about Product cost
brainly.com/question/24494976
1. When talking about personal finances, always remember that you will either manage
your money or the lack of it will
It is correct to say that when talking about personal finance, always remember that you will manage your money or the lack of it, this being an essential topic for better control of your expenses and income.
How to increase control over your income and expenses?You can develop a personal budget, which is a simple and easy-to-do technique, where all your personal accounts for a period are exposed, whose objective is to increase understanding about your finances, your needs and allocation of resources for your goals.
Therefore, financial education is a topic that should be more instituted in schools and social institutions, to provide greater subsidies for individuals to understand how to balance their finances to increase their quality of life and avoid indebtedness.
Find out more about personal budget here:
https://brainly.com/question/1943261
#SPJ1
Suppose that the production function is y= 9k^0.5 N^0.5. With this production function, the marginal product of labor is MPN= 4.5K^0.5 N^-0.5. The capital stock is K= 25. The labor supply curve is NS= 100[(1-t)w]^2, where w is the real wage rate, t is the tax rate on labor income, and hence (1-t)w is the after-tax real wage rate.c.Suppose that a minimum wage of w=2 is imposed. If the tax rate on labor income, t, equals zero, what are the resulting values of employment and the real wage? Does the introduction of the minimum wage increase the total income of workers, taken as a group?
The resulting values for employment and the real wage are 70.3125 and $1.5811 per hour, respectively.
The introduction of the minimum wage does not increase the total income of workers taken as a group.
How to determine employment and real wageTo find the resulting values of employment and real wage, determine where the labor supply curve intersects the labor demand curve.
MPN =
\(4.5K^0.5 N^-0.5 = (9K N)^0.5 / (2KN)^0.5 = (9/2)^0.5 (K/N)^0.5 = w/P
\)
where P is the price of output, which we can assume is equal to 1.
This equation can be rearranged to solve for N:
N =
\((9/2) (K/w)^2\)
Plugging in K = 25 and w = 2, we get:
N =
\((9/2) (25/2^2) = 70.3125\)
To find the real wage, we can plug this value of N into the labor supply curve:
NS =
\(100[(1-t)w]^2 = 100(1-0)(2)^2\)
= 400
Since labor supply exceeds labor demand, the real wage will be bid down to the equilibrium level.
\((9/2)^0.5 (K/N)^0.5 = w/P
(9/2)^0.5 (25/N)^0.5 = 1/2
N = (9/2) (25/2^2) = 70.3125
w = 2(70.3125/100)^0.5 = 1.5811\)
The equilibrium real wage is $1.5811 per hour.
To determine whether the introduction of the minimum wage increases the total income of workers,
Total income before minimum wage = wN = 1.5811 x 70.3125 = $111.31
After the minimum wage of $2 is imposed, the real wage is fixed at $2, and the level of employment is determined by the intersection of the labor supply and demand curves at this wage:
N =
\((9/2) (25/2^2) / (2)^2 = 35.15625\)
Total income after minimum wage = wN = 2 x 35.15625 = $70.31
Since the total income of workers decreases from $111.31 to $70.31 after the minimum wage is imposed, the introduction of the minimum wage does not increase the total income of workers taken as a group.
Learn more on Real wage on https://brainly.com/question/1622389
#SPJ1
Cabinaire Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it assembles filing cabinets in an Assembly Department. Assume the following information for the Assembly Department:
Direct labor per filing cabinet 30 minutes
Supervisor salaries $117,000 per month
Depreciation $32,000 per month
Direct labor rate $12 per hour
Prepare a flexible budget for 70,000, 80,000, and 90,000 filing cabinets for the month ending February 28 in the Assembly Department.
Answer:
For 70,000 just add 117,000 and 32,000.Convert 12$ into Naira,multiply it with 70,000 and divide the result by 30
For 80,000 just add 117,000 and 32,000.Convert 12$ into Naira,multiply it with 80,000 and divide the result by 30
For 90,000 just add 117,000 and 32,000.Convert 12$ into Naira,multiply it with 90,000 and divide the result by 30
A certificate of ownership in a corporation is called
Explain the concept of Opportunity Costs as they relate to tradeoffs
While opportunity cost is the cost of opting one course of action and doing another opportunity, a trade-off is an action given up to perform the preferred course of action.
A job analysis report transforms the analysis into three components: an
analysis, a summary, and
?
Work activities, worker attributes, and work context are the three main categories of data used in job analysis.
What is Job analysis?Work analysis is the process of gathering all the essential details about a certain job, including the tasks involved, the knowledge and skills needed to accomplish the job, and the responsibilities and skills necessary for the job to be performed successfully.
One of the most crucial tasks carried out by a human resource manager is job analysis. By defining the relevance, definition, and technique of "job analysis" with an emphasis on the job description & job specification, which are seen as the process's output, this article will help readers understand the concept.
To know more about Job analysis, visit:
https://brainly.com/question/28591731
#SPJ1
Why does the quantity a supplier is willing to give go up when the price goes up
A Student Aid Report (SAR)What is Anna’s DRN? What is the purpose of this number?
Your individual 4-digit code on the FAFSA confirmation page and your Student Aid Report are referred to as your "DRN" or "Data Release Number" (SAR). Your identification is ensured by the 4-digit code.
What does the DRN number serve?Your application will be granted a four-digit Data Release Number (DRN) by Federal Student Aid. If you want to make adjustments to your FAFSA information, you can do so by giving your DRN to a customer service representative.
My FAFSA data Release number is where can I find it?Federal Student Aid issues applications with a four-digit identifier called a Data Release Number (DRN). Only the student can see the DRN, which is printed on the student's confirmation page and the top right corner of the Student Aid Report (SAR).
To know more about Student Aid Report visit:-
https://brainly.com/question/28160957
#SPJ1
Q.5 : Match up the following Quality tasks with their purpose
Answer:
Where's the question?
Explanation: