Answer:
Option "B" is the correct response for the statement provided.
$15
Explanation:
Marginal revenue refers to the additional income generated from selling one more unit of a product. Meanwhile, marginal benefit is defined as the earnings a business or entity receives when producing and distributing one additional or marginal product.
Marginal Benefit = New revenue - Previous revenue
= ($40) - ($25)
=$15
Thus, Lionel's Lawn Care's marginal benefit amounts to $15.
Answer:
2 Days
Explanation:
To clarify, we need to restate the utility function for clarity
U=V^{1/2}
1. Probability of an illness occurring in the family is 20%
2. If an illness occurs, the total number of days impacted is calculated as:
Total vacation days = 10 days x Probability of illness = 20%
= 10 x 0.2 = 2 days
This indicates that should an illness occur based on this probability, 2 out of the 10 vacation days will be affected
3. The number of remaining vacation days to enjoy would thus be 10-2 = 8 days
This indicates that even after accounting for 2 days of potential illness, the family can still enjoy their vacation period.
V= 2 days
Answer:
The real exchange rates calculated are 4.5 and 3
Explanation:
We understand that
Real exchange rate = Nominal exchange rate × (Basket cost in US ÷ Basket cost in Norway)
Utilizing this formula, the calculation proceeds as follows:
For a nominal exchange rate of 3, the real exchange rate is calculated as follows:
= 3 × (60 ÷ 40)
= 4.5
For a nominal exchange rate of 2, the real exchange rate is:
= 2 × (60 ÷ 40)
= 3
a. $20,000. b. $3,000. The cost for an item of Property, Plant, and Equipment encompasses the purchase price and any expenses related to making the asset operational as intended by management. To calculate the car's expense: Purchase Price $19,000, Less Trade Discount $1,000, leading to a Net of $18,000, plus an extra $2,000 for a luxe interior brings the Total Cost to $20,000. Regarding depreciation, using the straight-line method, the fixed expense amortized yearly from the cost is determined by the equation (Cost - Residual Value) / Estimated Useful Life, which yields ($20,000 - $5,000) / 5 = $3,000 annually.
