He should use a business email and or tell them directly
Answer:
A perfectly elastic demand curve means that the firm can sell as much output as it chooses at the current price.
Explanation:
The perfectly elastic demand implies that the demand curve is horizontal line parallel to the X axis. The price is fixed at a point and the firm can sell any amount of output at this point. The demand is infinite at the given price level. If the firm makes any changes in this price level, the demand will become zero.
Answer:
The effective annual rate on loan would be 8.24%
Explanation:
Formula for Effective annual rate ( EAR ) -
(1 + APR / Number of compounding periods in a year) ^ (Number of compounding periods in a year) - 1
where, the APR IS 8% ,
Number of compounding periods - 4 quarters
So now putting these values in the formula -
(1+8% / 4) ^4 - 1
= (1 + 2%) ^4 -1
= (1 + .02)^4 -1
= (1.02)^4 - 1
= 1.08243216 - 1
= .08243216
Now multiplying this by 100 to make it in percentage
= 8.24% ( approximately )
add the money together and then divide it by the fraction or percent
Answer:
(a) 3 pounds of shrimp
(b) 5 pounds of shrimp
Explanation:
Opportunity costs refers to the costs or benefits that are foregone to select some other alternative.
Vietnam can produce 180,000 pounds of shrimp or 60,000 pounds of rice in a year:
Opportunity cost of producing one pound of rice = 180,000 ÷ 60,000
= 3 pounds of shrimp
Ecuador can produce 130,000 pounds of shrimp or 26,000 pounds of rice in a year:
Opportunity cost of producing one pound of rice = 130,000 ÷ 26,000
= 5 pounds of shrimp
Therefore,
According to the principle of comparative advantage, the Vietnam has a comparative advantage in producing rice because it has a opportunity cost of producing rice than Ecuador.