To create a resume that is convincing while avoiding a self-centered tone, it is essential to refrain from using words like I, ME, and My
. Therefore, the answer is: D all of the above.
Answer:The marginal propensity to consume (MPC) is 0.65
The multiplier or k = 2.85714 rounded to 2.86
Explanation:
The MPC pertains to the fraction of additional disposable income that consumers choose to spend. It is used to gauge the consumption increase driven by rising income.
MPC can be calculated as follows,
MPC = Change in consumption / change in income
MPC = 0.65 / 1
MPC = 0.65
To derive the multiplier, we apply this formula,
Multiplier or k = 1 / (1 - MPC)
k = 1 / (1 - 0.65)
k = 2.85714 rounded to 2.86
Response:
a. Due to the rise in corn prices, the supply of corn would grow. Simultaneously, the acreage allocated for corn farming would expand.
b. The primary factor behind the change in corn production acreage is:
A. The increased price indicates to suppliers that corn is becoming more valuable.
Clarification:
As corn is essential for producing ethanol biofuel, the demand and supply for corn rise to keep pace with the climbing prices. Suppliers, for their part, respond by increasing production through the use of a larger amount of land dedicated to corn cultivation. This depicts the usual interaction of market forces that influence market equilibrium.
The company should opt for system A, as it boasts a six-year lifespan and lower annual operating expenses.
Rationale:
- Despite system A's price of $438,000, it is of good quality and lasts for six years. Thus, its quality is quite sufficient. It incurs an $83,000 tax operating cost annually.
- Conversely, system B has a lower cost of $369,000, but its $92,000 tax operating cost per year is higher than that of system A.
- System A outlasts system B, making it the preferable choice for the firm.
