The correct answer is - the number of hours he works at each job.
If we have the number of hours he works for each job separately, then we will be able to take out a percentage of the earnings from both of the jobs separately. We will than get the sum of the percentages if both of them, and have the real amount of George's weekly savings.
The republic of south Africa exports edible fruits and nuts into the common market known as the European union, and imports from the European union other products which south Africa could produce but at a higher cost than what it costs the Europeans to produce. this practice follows the theory of comparative advantage.
Comparative gain is an economic system's potential to supply a specific proper or provider at a reduced possibility rate than its buying and selling partners. Comparative benefit is used to provide an reason for why organizations, countries, or people can benefit from trade.
For instance, if a country is skilled at making each cheese and chocolate, they will decide how much tough work is going into producing each right. If it takes one hour of exertions to produce 10 devices of cheese and one in each of of tough paintings to deliver 20 devices of chocolate, then this united states has a comparative benefit in making chocolate.
Comparative advantage, monetary precept, first developed via 19th-century British economist David Ricardo, that attributed the reason and advantages of global alternate to the variations within the relative possibility costs (prices in phrases of other objects given up) of producing the same commodities amongst global locations.
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Answer:
$16.20
Explanation:
Calculation for How much is the cost per equivalent unit for direct materials
Cost per equivalent unit for direct materials=($36,000+$186,000)/[11,000+(3,000*90%)]
Cost per equivalent unit for direct materials=$222,000/(11,000+2,700)
Cost per equivalent unit for direct materials=$222,000/13,700
Cost per equivalent unit for direct materials=$16.20
Therefore the the cost per equivalent unit for direct materials will be $16.20
Answer:
$2,000
Explanation:
Calculation to determine the consumer surplus
Consumer surplus=$30,000-$28,000
Consumer surplus=$2,000
Therefore consumer surplus is $2,000
Answer:
True
Explanation:
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources
The question is looking at the effect of price on an industry. This is what microeconomics study
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
