Answer:
The answer is: $3.00
Explanation:
In order for Chuck Diesel Burger to make a profit it must sell its product at ˃$3.75.
If it sells its product at $3.75 it will break even (costs = revenue).
If its price is <3.75 but ˃$2.50 it will lose money but still produce, since its revenue is ˃ than its variable cost.
Any price ≤$2.50 would make it impossible for Chuck Diesel Burger to continue production since its revenue is < variable production costs.
Answer: Both A and C
Explanation:
The Phil's filling gas station operates on a highway was solo in that area and had no other gas stations nearby.It enjoyed the profit .
Sooner a new gas station opened near Phil's gas station.The profit of the Phil's gas station started decreasing. This was because the it has to lower prices to increase its demand and as there were substitutes available in the market now, people moved to another gas stations for their need.
Both of the cases will decrease its profit.
Answer:
The correct answer is $7,056.46
Explanation:
Giving the following information:
You want to save sufficient funds to generate an annual cash flow of $55,000 a year for 25 years as retirement income. How much do you need to save each year if you can earn 7.5 percent on your savings?
Final value= 55,000*25= 1,375,000
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,375,000*0.075)/[(1.075^38)-1]= $7,056.46
Answer:
The correct answer is <em>d. Canada requires fewer resources than the U.S. to produce a bushel of wheat.</em>
Explanation:
A country (in this case Canada) has a comparative advantage over another country (in this case the United States) to produce a certain product (in this case wheat) if the production costs of that product (wheat) are less than from the other country, regardless of the opportunity cost of producing that other product in that country.
The comparative advantage is based on the fact that the country has developed greater efficiency in the use of resources or that it has greater ease of access to them due to better conditions of nature, greater technological development in the field in question, human capital more specialized in that economic field, etc.
The opportunity cost of producing a product or another in the same country does not affect a deterioration or increase of the comparative advantage developed to produce such a product.
