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Andrei [34K]
2 years ago
10

An economy has five people: george, sarah, mason, abbot, and jin. george works for plastics, inc., 40 hours a week. sarah works

for baker's united for 20 hours a week and would like to move from part-time work to full-time work. mason has been looking for work and applying for jobs for the past six months after he finished completing his high school education. abbot worked for baker's united for the first six months of the year before he was fired; for the next four months abbot sought work, but finally gave up looking for work when he realized that it was unlikely that he would be able to find work in this economy. jin is 70 years old and enjoys reading, needlepoint, and watching movies. the unemployed in this economy include:
Business
1 answer:
Katena32 [7]2 years ago
3 0
The unemployed people in this economy are MASON AND ABBOT. 
Unemployment is said to occur in an economy, when people who are in the working age bracket actively search for work for a long time without getting any. There are different types of unemployment. Unemployment rate is usually used to gauge how healthy an economy is. In the scenario given above, it can be seen that both Mason and Abbot are of working age and they are both actively searching for work without finding one. <span />
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In a perfectly competitive industry, the industry demand curve is ____, while in a monopolistic industry, the industry demand cu
antoniya [11.8K]

Answer:

The correct answer is downward sloping; downward sloping.

Explanation:

In a perfect competition the demand curve for an individual firm is a horizontal line parallel to the x axis. This happens because the firm is a price taker and operate on the price determined by the intersection of demand and supply curves. Any increase in the price will cause the demand to become zero.

While in the monopolistic market a single firm has downward sloping demand curve. Here, the firm is price maker and decides price level. Though, the consumers will demand more at lower price.

The industry supply curve for both will be downward sloping. This happens because, the firms consumers in a market will always demand more at low prices. The demand and price are inversely related.

8 0
2 years ago
Pharoah Company just began business and made the following four inventory purchases in June: June 1 186 units $1290 June 10 248
kherson [118]

Answer:

<u>Ending Inventory 2,092</u>

<u></u>

Explanation:

PURCHASES  

DATE QUANTY PRICE         SUBTOTAL

1       186                 $6.935484   $1,290.00

10      248                   $7.78226   $1,930.00

15      248                  $8.38710   $2,080.00

28       186                  $8.81720   $1,640.00

<em>Inventory on hand 260</em>

Using FIFO <u>we have to pick from the bottom of the table</u> until reach 240 unit.

last line: June 28th 186 units total cost 1640

<em>240 - 186 = 54 units </em>

we need 54 more units so we go to next purchase

June 15th 54 units  at 8.3810 = 542.034 = 542

Now we add to get total ending ivnentory

186 units 1640

54 units 452

<u>Ending Inventory 2,092</u>

5 0
2 years ago
Read 2 more answers
Ticket prices to a Kanye West concert increase from $40 to $60. As a result, ticket sales decrease from 50,000 to 40,000. The el
kramer

Answer:

.4

Inelastic

Explanation:

Elasticity of Demand = |%Change in Demand / %Change in Price|

%Change in Demand= |(40,000 - 50,000)/50,000| =  20%

%Change in Price = |(60 - 40)/40| = 50%

Elasticity of Demand = .2/.5 = .4 or 40%

.4 < 1 so Demand is Inelastic

4 0
1 year ago
1. How has an understanding of consumer behavior helped Coppertone grow in the United States and around the globe? 2. Describe t
True [87]

Answer: The answers are provided below

Explanation:

1. The understanding of consumer behavior which has helped Coppertone grow in the United States and around the world are:

• Its understanding of consumer behavior was along with changing behaviour of consumers.

• Its understanding was along with consumer's changing needs.

• Providing innovative solutions that are in accordance with consumer preferences.

Note that at the beginning, Coppertone started as a tanning product, but later developed nee products when the consumers preferences changed from tanning to skin protection.

2. . The Five stage purchase decision process for a Coppertone customer are:

a. Problem recognition - This is the stage of understanding the problem.

b. Search for information. It is the stage of seeking solution to the problem

c. Comparision of alternatives - This is the stage where the comparative analysis is done. This stage is influenced by the product, price, availability etc.

d. Decision of purchasing - This is the stage of decision making that is based on the comparisons made.

e. Post-purchase feedback - This is the stage whereby the consumer will evaluate the product performance. This stage is vital to retaining existing consumers.

3. The factors that can influence the Coppertone consumer purchase decision process are:

• Psychological: It is the intention of consumers to protect their skin from the sun while going out thereby maintaining their good look.

• Sociological : It is in human behaviour to replicate the things that are being done by other people in the society.

• Situational Factor: This is a case whereby consumers are left with no other alternatives than purchasing a particular product brand to meet their need.

4. The marketing activities Coppertone utilized to help it grow in the marketplace are:

• Advertisment: Coppertone advertisment strategy really worked through its use of the advertisement campaign for “the Coppertone Girl” and also their famous tagline “Tan, Don’t Burn.” This helped spar the product’s popularity.

• Use of social media: They also engage with their customers on social media nd other websites.

5. The challenges that would be faced by Coppertone in the future are:

• There will be an unbalanced demand and supply since the requirement of the product is seasonal.

• Selective usage of the product by the customer can hampers the sale.

• There may be the need for more innovative products in order to meet customer needs.

The recommendation related to each challenges are:

• Awareness should be created among the customers about their self health and looks, in order for them to shift away from seasonal usage.

• New products should be launched aggressively. This is because customers are trendy nowadays and also appealing marketing techniques should be used.

6 0
2 years ago
A company purchased a tract of land for its natural resources at a cost of $1,000,000. It expects to harvest 5,000,000 board fee
hram777 [196]

Answer:

The correct answer is $0.16.

Explanation:

According to the scenario, the given data are as follows:

Total cost = $1,000,000

Total units = 5,000,000

Salvage value = $200,000

So, we can calculate the depletion expense per board foot by using following formula:

Depletion expense = ( Total cost - Salvage value) ÷ Total Units

By putting the value, we get

Depletion expense = ( $1,000,000 - $200,000) ÷ 5,000,000

= $0.16

5 0
2 years ago
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