Nancy Wallin has just purchased a new house that is in need of new flooring. The cost of Pergo Select Helsinki Birch laminate flooring is $6.35 per square foot if Nancy installs the flooring herself or $8.35 per square foot if she has the flooring installed by the flooring company. Use the measurements given on the floor plans of Nancy's house to determine the cost for the flooring in the living/dining room if a) Nancy installs it herself. b) Nancy has it installed by the flooring company.
Q: How important is International Trade for the country of Estonia??
A: Economists such as Adam Smith and David Ricardo understood the importance of international…
Q: Using the AE-PC Model illustrate graphically the impact of each these factors in separate and…
A: *Answer: * There is a sudden rise in oil prices: The increase in the price of crude oil causes a…
Q: Evaluate the following statement in no more than 300 words: "Infant-industry protection can be…
A: Alexander Hamilton introduced the idea of the infant industry in 1791 when he argued for…
Q: A consumer is in equilibrium at point A in the accompanying figure. The price of good X is $5. What…
A: The measure that depicts intersection of demand curve and supply curve in the economy is known as…
Q: P Figure: The Market for Laptop Sleeves Pr C A P B E ones F LL S
A: Total surplus is the sum of consumer surplus and producer surplus. Consumer surplus is the area…
Q: The following graph shows the economy in long-run equilibrium at an expected price level of 120 and…
A: Investment tax credits:- Fundamentally, investment tax credits are a governmental tax incentive for…
Q: Q1. Suppose MPC is 0.8. If government purchases increases by $10a and cuts taxes by $508, how much…
A: Government expenditure Multiplier : ∆Y = 11 - MPC ∆GIt means that if the government change its…
Q: A city is spending $19.3 million on a new sewage system. The expected life of the system is 40…
A: A cost or expenditure is capitalized when it is recorded on the balance sheet with the intention of…
Q: D2
A: We know that Aggregate demand - At a given time aggregate demand is total demand of an economy. It…
Q: 3. EFC Corporation, which manufactures goods at three locations at D, E, F. The firm distributes the…
A: Transportation problems are a subset of Linear Programming Problems (LPPs) in which commodities are…
Q: Question 7 State five criticisms of a monopoly.
A: A monopoly is such a market structure in which there is only one seller and many buyers.
Q: Which of the following accurately describes the phenomenon of crowding out? government…
A: Aggregate demand is composed of consumption spending, investment spending, government purchases and…
Q: Sally owns and operates a pizza house. The diagram shows the cost and revenue curves for the pizza…
A: Total profit is the difference between total revenue and total cost. Profit maximization is the…
Q: List six primary public policy arguments for promoting renewable energy sources. From the list,…
A:
Q: Online the timing and tailoring of prices to specific models of products is the key to successful…
A: Since there are multiple questions, I am providing the answer to the first question. Price…
Q: Question 9 Market Price 00 5 2 Supply 300 500 700 Demand Qty Individual Firm $ per unit 10 25 30 MC…
A: The difference between the proceeds from the sale of a product and the prices of all inputs used, as…
Q: Issues as to whether or not a party is a holder in due course usually arise when the party seeks to…
A: Holder in due course is a transferee who is a holder of a negotiable instrument which has been taken…
Q: In the Liquidity Theory of the Interest rate, the opportunity cost of holding money is? the…
A: People prefer to hold cash in hand so they should be compensated if they put their money in bank or…
Q: Kwame is the purchasing manager for an electronics firm in North Carolina. He purchases a large…
A: Direct import is a situation where a firm buys some product from a company which exists in another…
Q: Name Three public policies and how do they contribute to economic growth?
A: Increased output of products and services is referred to as economic growth. Economic growth can be…
Q: The Council had previously debated the issue of the basic income grant without reaching consensus.…
A: According to the specifics of the situation, "income" might be understood in a number of various…
Q: Given the information: Interest rate in US (Rh): Interest rate in UK (Rf): The current spot rate for…
A: Spot rate is the price of any currency or a product will be exchanged or traded on the spot or…
Q: In 2019, X Company sold 5,250 units of its only product. Total revenue was $1,345,575, total…
A: Total Revenue is the total amount earned by the seller after selling the goods and services or we…
Q: Graphical Analysis 1. Using the AE-PC Model illustrate graphically the impact of each these factors…
A: At point D, where the AD and AS curves connect, the Keynesian cross diagram is initially in…
Q: Suppose that a monopolist has a constant marginal cost curve. That is, for each unit of output that…
A: Monopoly is the seller which is the only seller in the market where there are many buyers and due to…
Q: Enabled: Exam 4-Chapters 8,9 & 10 Help The current Required Reserve Ratio is 10% and Bank A sold a…
A: Here, it is given that the required reserve ratio is 10% and there is an increase in excess Reserve…
Q: Which of the following questions does the official unemployment rate, U3, answer? O What percentage…
A: Official unemployment rate (U3) formula Unemployment rate = Unemployed people / (Unemployed people +…
Q: The following table shows the value of credits and debits in four balance-of-payments accounts in…
A: BOP analyses all of the exports and imports of commodities and services for a specific time frame.…
Q: The PPF curve shows a curved negative relationship between two goods this means that an increase in…
A: A production possibility frontier (PPF) shows the combination of two goods that a nation can produce…
Q: 11. Q = 6L - 0.1L2 + 4 K - 0.2 K2 The wage rate is $30, the cost of capital is $40, and output sells…
A: Returns to scale refers to the change in output when inputs change by a fixed proportion
Q: 22) There are 10 million people in the country of Natural 500,000 are retired . 1,000,000 are…
A: Unemployment refers to the situation when a person is not engaged in any economic activity. If the…
Q: What is the fundamental difference between commodity money and fiat currency? commodity money…
A: Answer: Commodity money: commodity money is made of metals so it possesses some intrinsic value.…
Q: a. Nominal GDP for all the years
A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…
Q: On any given day, banks with insufficient reserves can borrow from banks with excess reserves. The…
A: The term "excess reserves" refers to the sum held or deposited with the major or central regulatory…
Q: If there is an increase in the number of apple producers, then all else the same a. the price of…
A: An increase in demand or supply will shift the demand or supply curve will shift towards right and…
Q: If the system costs $600 to fix every time it breaks down, what is the expected fixing cost if the…
A: Let's first calculate reliability and failure of the system using the given values.
Q: An FI has purchased a $201 million cap of 8 percent at a premium of 0.70 percent of face value. A…
A: Income is divided into two parts , one is income and other is saving and the net saving is the…
Q: 2. () Budget line 1: Wages are $12 per hour. No income tax. Draw budget line 1. (ii) Budget line 2:…
A: Utility maximizing condition is MUr / w = MUcWhere MUr = Marginal utility from leisure,w = Wage…
Q: Can a company like Priceline.com sell low-priced items such as groceries and telephone calls?
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: The following graph shows an increase in aggregate demand (AD) in a hypothetical country.…
A: "Aggregate demand in a nation represents the total amount of commodities demanded by consumers in a…
Q: Desired national saving: s= $20 billion+ ($400 billion) Desired investment: /"$40 billion ($400…
A: The measure that depicts final value of goods and services within an economy during given time span…
Q: What are shortcomings of using GDP to measure the standard of living? Group of answer choices GDP…
A: GDP measures the value of goods and services produced in an economy during a specific period of…
Q: Perfect substitutes O always have indifference curves with slopes of -1. O always have indifference…
A: Perfect substitute goods are those goods that fulfill the same wants of consumers in the same way.…
Q: Please identify each of the following the statements as true/false/uncertain and support your claim…
A: Nominal interest rate It is that rate in which is the real interest rate and inflation. Thus…
Q: What is the effective interest rate per payment period for an interest rate of 12% compounded…
A: The interest rate that accounts for the compounding periods over the course of a repayment plan is…
Q: Making a large number of goods that are the same O inflation mass production corporation deflation
A: A decrease in the average price level of all goods and services over time in a particular economy is…
Q: When planned investment exceeds saving in a private closed economy, Multiple Choice: ● ● aggregate…
A: A private closed economy is a kind of economy that is driven by purchaser spending (otherwise called…
Q: A coffee maker set is offered for sale for P 15 000 down payment and P 1 500 every 3 months for the…
A: Down payment = P15000 Reoccurring payment = P1500 Time period = every 3 months for 15 months…
Q: MP and MRP and Profit-Maximization Questions: If tacos sell for $2.50, and wage=$12.50, answer…
A: Marginal Product refers to the additional output generated due to employment of an additional input…
Q: The following table contains data from ERED" on the consumer price index and the nominal average…
A: Nominal wage describes wage in monetary terms whereas real wage describes wage in terms of goods…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Farmer McDonald gives banjo lessons for $20 perhour. One day, he spends 10 hours planting $100worth of seeds on his farm. What total cost has heincurred?a. $100b. $200c. $300d. $400Please no written by hand Acme, Inc. is currently producing 12,000 gadgets per year. Acme’s average total cost (ATC) is $18 per year. What is Acme’s total cost (TC) per year? a. $667 b. $108,000 c. $216,000 d. $500 e. $1500Metters Cabinets, Inc., needs to choose a productionmethod for its new office shelf, the Maxistand. To help accomplishthis, the firm has gathered the following production cost data: PROCESS TYPE ANNUALIZEDFIXED COST OFPLANT & EQUIP. VARIABLE COSTS (PER UNIT) ($)LABOR MATERIAL ENERGY MassCustomization $1,260,000 30 18 12Intermittent $1,000,000 24 26 20Repetitive $1,625,000 28 15 12Continuous $1,960,000 25 15 10Metters Cabinets projects an annual demand of 24,000 units forthe Maxistand. The Maxistand will sell for $120 per unit. a) Which process type will maximize the annual profit from pro-ducing the Maxistand? b) What is the value of this annual profit?
- Hand written asap..solve 20 mins..i'll rateProblem 4. In the design of an automobile engine part, an engineer has a choice ofeither steel casting or an aluminum alloy casting. Either machine provides the sameservice. However, the steel casting weighs 8 ounces, compared with 5 ounces for thealuminum casting. Every pound of extra weight in the automobile has been assigned apenalty of $6 to account for increased fuel consumption during the life cycle of the car.The steel casting costs $3.20 per pound, while the aluminum allow can be cast for $7.40per pound. Machining cost per casting are $5.00 for steel and $4.20 for aluminum.Which material should the engineer select, and what is the difference in unit costs? 1pound = 16 ouncePlease hep with this question ? That is attatched show how calcualtion was made thank you,
- Hyundai Automobile U.S.A. is sponsoringa charity golf tournament to raise monies for achildren’s hospital in Birmingham. There are twopossible venues:• RTJ Golf Resort at Prattville, which has afixed rental cost of $6,810. The hotel providesfor meals and waiters and waitresses to servedrinks and finger foods at $60 per person. Thegreen fees and cart for each person will be $35.• Wynlakes Golf & Country Club, which has afixed rental cost of $2,400 plus a charge of $100per person for its own catering of meals andserving of drinks and finger foods. The greenfees and cart for each person will be $40.Hyundai budgets $5,000 in costs for administrationand marketing for the event. The band will cost afixed amount of $3,000. Tickets to this local community event will be $300 per person. All proceedsfrom the event will be donated to the children’shospital.(a) Compute the break-even point for each venue interms of tickets sold.(b) At what level of tickets sold will the two venueshave the same…Calbee spent $100 to make 10 face shields. Calculate the average fixed cost of each face shield if the total variable cost incurred was $50. Question 16 options: 1) $0.5 2) $5 3) $10 4) $50solve 30-40 minutes hand written asap..i'll rate(hand written otherwise downvote)
- Output from a process contains 0.02 defective unit. Defective units that go undetectedinto i nal assemblies cost $25 each to replace. An inspection process, which would detectand remove all defectives, can be established to test these units. However, the inspector,who can test 20 units per hour, is paid $8 per hour, including fringe benei ts. Should aninspection station be established to test all units?a. What is the cost to inspect each unit?b. What is the benei t (or loss) from the inspection process?Steve owns a bike store. His total costs are $1.2 million per year, his variable costs are $750,000, and his fixed costs are $450,000 per year. Last year, Steve sold 1,200 bikes.Steve’s average total cost was __________ per bike. Question 8 options: A) $1,000 B) $625 C) $1,200 D) $375Selling price per large Snowie $ 5.00 Ice per Snowie $ 0.20 Spoon straw (need one per Snowie) $ 0.02 Styrofoam cup (need one per Snowie) $ 0.08 Napkin (need two per Snowie) $ 0.02 Servings per gallon of syrup 28 Cost per gallon of syrup (includes concentrate, preservative, and sugar) $ 8.00 Hourly rate for workers $ 10.00 Event registration fee per day $ 25.00 Electricity, insurance, maintenance, and permit costs per month $ 250.00 Kiosk rental cost per month $ 650.00 Purchase cost of two ice shavers (5-year life) $ 3,180.00 Purchase cost of a flavor station (5-year life) $ 1,080.00 a. Number of days you anticipate opening the kiosk per month 20 b. Number of hours you will work (no wages required) per day 6…