<u>Answer:
</u>
By implementing the food safety compliance policy, the food company would only make sure that the food they have given is safely consumable, but by putting consumer safety first, the companies would go beyond the attempts to avoid fine and take special measures to ensure true safety of the consumers.
<u>Explanation:
</u>
- Though the Food and Drug Administration of the United States bears the responsibility of food safety and is accountable towards both, the public and the government, it would not be possible without the cooperation of the food companies to ensure utter food safety for the public.
- With stringent supervision and the companies sticking to the norms and regulations put by the supervising agencies, it would be possible to eradicate the problems caused by food contamination.
Answer:
His regular earnings ( based on regular rates) is $480 while his total earnings for the week ended March 15 is $738.
Explanation:
Regular rate = $12 per hour
Rate for hours in excess of 40 hours per week
= (3/2) × $12
= $18
Rate for hours for Sunday is double
= 2 × $12
= $24
During the week ended March 15, 9 hours each day from Monday through Friday, 6 hours on Saturday, and 4 hours on Sunday
Period in excess of 40 hours during the week
= (9 × 5) + 4 - 40
= 9
Total regular earning = 40 × $12
= $480
Additional earnings = (9 × $18) + (4 × $24)
= $162 + $96
= $258
Total earnings = $480 + $258
= $738
Answer:
Qe 2
Pe 2
Demand price elasticity -0.60
Supplu price elasticity 3
i. It will decrease
As the demand as a more than proportionate price elasticity will overreact to the input price and their subsequent price increase with a reduce in consumption.
Explanation:
We equalize both to get the equilibrium quantity (Qe)
4 - 2/3Qe = 1 + 1/3Qe
Qe(2/3 + 1/3) = 4 - 1
Qe = 3
Then we solve for equilibrium price (Pe)
Pe = 4 - 2/3 x 3 = 4 - 2 = 2
Pe = 1 + 1/3 x 3 = 1 + 1 = 2
Price elasticity of demand at equilibrium:
variation in quantity / variation in price
we solve for Q when P = 3 and compare the variation
(1.33-3) / (3 - 2) = -1.66/1 = -1.66
Price elasticity of supply at equilibrium: ( 6 - 3) / (3 - 2) = 3 / 1 = 3
Answer and Explanation:
The preparation of the analysis showing whether the old machine should be retained or replaced is presented below:
Particulars Retained equipment Replace equipment Change in the net income
Variable cost $1,560,000 $1,230,000 $330,000
($520,000 × 3 years) ($410,000 × 3 years)
Cost of the new
machine $300,000 -$300,000
Net change $30,000
As we can see the amount comes in positive which reflects that the machine should be replaced
Answer:
Option (b) is correct.
Explanation:
The law of demand states that there is a negative relationship between the price of the product and the quantity demanded for the product. This means that as the price of ski lift tickets increases then as a result the quantity demanded for ski tickets decreases. Alternatively, if there is a fall in the price of ski tickets then as a result the quantity demanded for sky tickets increases.
