Answer:
The function that would determine the cost in dollars, c(z), of mailing a letter weighing z ounces is (0.46 + 0.20z)
Explanation:
Weight of the letter = z ounces (z is an integer greater than 1)
cost to mail a letter weighing 1 ounce = $0.46
cost to mail an additional ounce = $0.20
cost to mail z additional ounces = z × $0.20 = $0.20z
Total cost of mailing a letter weighing z ounces = $0.46 + $0.20z
Therefore, cost function, c(z) = 0.46 + 0.2z
Answer: a to 1
b to 4
c to 2
d to 3
Explanation:
A to 1
Due to declining Trade barriers largely driven by trade agreements, countries are able to trade on a larger scale than before because goods are able to move in and out of a country with less hindrances. Tariffs are no longer as high and this has spurred companies to trade across borders to take advantage of new markets that do not increase their costs of selling.
B to 4.
With technology being applied to transportation, shipping has been made easier and faster and has also improved access to markets. Since World War II, the world has become smaller due to vessels capable for circumnavigating the world at a fraction of the time that they used to. Now vehicles like cargo planes and bullet trains can carry goods faster and at a cheaper rate thus inspiring people to keep trading.
C to 2
With Investment Barriers being lifted, entities in one country now have easier access to Investment opportunities in another. People and companies who had resources sitting ideal have now found new markets to invest in. This has improved those markets as well as giving wealth to the investors in a sort of win win situation.
D to 3
Computing since the days of the second World War and now are so Stark in difference that people then would probably view computing now as unfathomable. With this growth in computer processing, people around the world are able to trade faster and more efficiently with goods now at the tip of their fingers. Even stocks in Tokyo can easily be traded on by people in Cairo and in Alaska you can order a good from Sri Lanka. This accessibility has greatly improved trade.
Answer:
a. 1, 5 and 7
b. Resources will be allocated inefficiently
c. Differing sizes and capacities
d. Benefits due to economies of scale
e. Reduce prices and improve resource allocation.
Explanation:
The correct combination is 1, 5 and 7. The price of a pure monopoly firm is much higher than that of purely competitive firm because the later is a price taker while the former is a price fixer. Because of this, output of monopoly is lower while the profit margin is higher than that of competitive firm.
Assuming that a pure monopolist and a purely competitive firm have the same unit costs. In the case of a pure monopolist, resources will be allocated inefficiently because the monopolist does not produce at the point of minimum Average Total Cost and does not equate price and Marginal cost.
Even though both monopolists and competitive firms follow the MC = MR rule in maximizing profits, there are differences in the economic outcomes because pure competitors lack capacity and are smaller in size while the monopolist has the capacity to expand inorder to maximize profits.
The costs of a purely competitive firm and a monopoly may be different because the monopolist is capable of taking advantage of cost reduction arising from economics of scale. Pure competitors does not experience economies of scale due to their small sizes.
If a monopoly can experience economies of scale, it can reduce prices beyond that of the pure competitor thereby ensuring a more efficient resource allocation.
Answer:
Implementing cloud computing technology, the company should consider:
d)Potential cost reduction
Explanation:
Cloud computing technology uses software applications where the software and data are accessed by users and customers through the internet. When a company considers this option of hosting its software applications and storing data, the first consideration should center on the potential cost reduction that will be gained by so doing. Then, it is also important to consider the risks of data integrity and access levels.
Answer:
(3) $3,750,000
Explanation:
The computation of the expect monthly sales to be as high is shown below:
Given that
Sales per month = $300,000
Royalty payments = 8% of sales
So, the expected monthly sales would be
= Sales per month ÷ Royalty payments percentage
= $300,000 ÷ 8%
= $3,750,000
We simply divided the sales per month by the royalty payment percentage i.e 8%
