A store sells 20 ice cream bars per hour for $4 each, but on discount days, it sells 35 ice cream bars per hour for $3. Based on these two data points, what would be the slope for the relationship between the price and the quantity of ice cream sold?

Answers

Answer 1
Answer:

Answer:

The slope for the relationship between the price and the quantity of ice cream sold would be of -1/15

Explanation:

In order to calculate the slope for the relationship between the price and the quantity of ice cream sold we would have to calculate the following formula:

Slope= change in yaxis( vertical)/change in xaxis(horizontal)

Slope= change in price/change in quantity demand

Slope=P2-P1/Q2-Q1

Slope=3-4/35-20

Slope=-1/15

The slope for the relationship between the price and the quantity of ice cream sold would be of -1/15


Related Questions

Suppose you and a classmate are playing a game where your classmate proposes a division of​ $1.00. ​ Then, you either accept or reject the offer. If you​ accept, then you and the classmate get the proposed portions of the dollar. ​ However, if you reject the​offer, then you and your classmate receive nothing.Suppose your classmate offers you $0.12What is your optimal​ strategy?Your optimal strategy is to _________ the proposed division.A. AcceptB. RejectNow suppose instead that you propose the division of the dollar. Your classmate will then accept or reject your division. If the classmate​ accepts, then you each receive the portion of the dollar as you have proposed. ​ However, if your classmate​ rejects, then you both get nothing.Your optimal strategy is to offer your classmate ​$ 0.99. (Enter a numeric response to two decimal places)
Over the next 14 years, inflation is expected to be 5 percent per year in Ectenia and 10 percent per year in Wiknam. If this inflation comes to pass, what will happen over this period to the price of Spam and the exchange rate?
A monopolistically competitive firm usually charges more than a perfectly competitive firm because:_____.a. it is part of a group of firms that has formally agreed to control the price and the output of a product. b. its primary goal is to reap monopoly profits by replacing competition with cooperation. c. producing homogenous output is more expensive than producing differentiated output. d. producing differentiated output is more expensive than producing homogenous output. e. it has a monopoly, but potential entrants exist in the form of contestable markets.
Suppose that France and Germany both produce fish and olives. France's opportunity cost of producing a crate of olives is 4 pounds of fish while Germany's opportunity cost of producing a crate of olives is 10 pounds of fish. By comparing the opportunity cost of producing olives in the two countries, you can tell that __________ has a comparative advantage in the production of olives and _______ has a comparative advantage in the production of fish.
Dartmouth Corporation has provided its contribution format income statement for June. The company produces and sells a single product. Sales (2,800 units) $ 263,200 Variable costs 106,400 Contribution margin 156,800 Fixed costs 135,000 Operating profit $ 21,800 If the company sells 3,000 units, its total contribution margin should be closest to: $23,357. $175,600. $156,800. $168,000.

The Skulls, a student social organization, has two different locations under consideration for constructing a new chapter house. The Skulls' president, a POM student, estimates that due to differing land costs, utility rates, etc., both fixed and variable costs would be different for each of the proposed sites, as follows: Location Annual Fixed Variable Alpha Ave. $ 5,000 $ 200 per person Beta Blvd. $ 8,000 $ 150 per person What would be the total annual costs for the Alpha Ave. location with 20 persons living there

Answers

Answer:

The total annual cost for Alpha Ave. at 20 persons is $9000.

Explanation:

The total cost is made up of both the fixed and the variable costs.

The total cost equation for Alpha Ave can be written as,

Total Annual cost  =  5000 + 200x

Where x is the number of persons living in the Alpha Ave.

Thus, at 20 persons living in the Alpha Ave, the ytotal annual cost will be,

Total Annual Cost-Alpha Ave. = 5000 + 200 * (20)  =  $9000

Rogue Drafting has debt with a market value of​ $450,000, preferred stock with a market value of​ $150,000, and common stock with a market value of​ $350,000. If debt has a cost of​ 8%, preferred stock a cost of​ 10%, common stock a cost of​ 12%, and the firm has a tax rate of​ 30%, what is the​ WACC?

Answers

Answer:

the  WACC is 8.65%.

Explanation:

Total firm capital = $450,000 + $150,000 + $350,000

                            = $950,000

Weight of debt in the capital structure = $450,000/ $950,000

                                                                = 47.37%

Weight of preferred stock in the capital structure

= $150,000/ $950,000

= 15.79%

Weight of common stock in the capital structure

= $350,000/ $950,000

= 36.84%  

The weighted average cost of capital is calculated using the below formula:

WACC= Wd*Kd(1 - t) + Wps*Kps + We*Ke

where:

Wd = Percentage of debt in the capital structure.

Kd = The before tax cost of debt

Wps = Percentage of preferred stock in the capital structure

Kps = Cost of preferred stock

We = Percentage of common stock in the capital structure

Ke = The cost of common stock

T = Tax rate

WACC = 47.37%*8%*(1 – 0.30) + 0.1579*10% + 36.84%*12%

           = 2.65272% + 1.5790% + 4.4208%

           = 8.65252%

Therefore, the  WACC is 8.65%.

Final answer:

The Weighted Average Cost of Capital (WACC) can be calculated by determining the weight of each component of the firm's capital structure and multiplying it by its respective cost. In this case, the WACC is 8.03%.

Explanation:

To calculate the Weighted Average Cost of Capital (WACC), we need to determine the weight of each component of the firm's capital structure and multiply it by its respective cost. The formula for WACC is:

WACC = (Debt / Total Capital) * Cost of Debt + (Preferred Stock / Total Capital) * Cost of Preferred Stock + (Common Stock / Total Capital) * Cost of Common Stock

Using the given information:

Debt = $450,000, Preferred Stock = $150,000, Common Stock = $350,000

Cost of Debt = 8%, Cost of Preferred Stock = 10%, Cost of Common Stock = 12%

We can substitute these values into the formula to calculate the WACC:

WACC = (450,000 / (450,000 + 150,000 + 350,000)) * 8% + (150,000 / (450,000 + 150,000 + 350,000)) * 10% + (350,000 / (450,000 + 150,000 + 350,000)) * 12%

Simplifying the equation:

WACC = 0.4 * 8% + 0.133 * 10% + 0.31 * 12%

Calculating the percentages:

WACC = 0.032 + 0.0133 + 0.0372

WACC = 8.03%

Learn more about Weighted Average Cost of Capital (WACC) here:

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Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 35,900 machine-hours. The estimated variable manufacturing overhead was $4.80 per machine-hour and the estimated total fixed manufacturing overhead was $945,606. The predetermined overhead rate for the recently completed year was closest to:

Answers

Answer:

Predetermined manufacturing overhead rate= $31.14 per machine-hour

Explanation:

Giving the following information:

Estimated machine-hour= 35,900 machine-hours

Estimated variable overhead= $4.80 per machine-hour

Total fixed manufacturing overhead was $945,606.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (945,606/35,900) + 4.8

Predetermined manufacturing overhead rate= $31.14 per machine-hour

Cullumber Company purchases land for $185000 cash. Cullumber assumes $5200 in property taxes due on the land. The title and attorney fees totaled $3100. Cullumber has the land graded for $4100. They paid $25000 for paving of a parking lot. What amount does Cullumber record as the cost for the land?

Answers

Answer:

The answer is

$197,400.

Explanation:

The cost of acquisition of an asset (land) is the non-depreciable costs associated with the acquisition of the land, because land is considered as an asset that does not depreciate. The costs that make up the cost of acquiring a land includes the normal, reasonable and necessary expenditures associated with the land to obtain it and get it ready for use. These include the agreed upon cash price, repair and reconditioning costs, title fees, legal fees, zoning fees and survey fees. On the there are costs of improvements made on the land and this is not part of acquisition costs because these improvements depreciate with time, and they are recorded in the cost of improvement account which takes depreciation into consideration. Example of these costs include parking lots, irrigation systems etc.

Hence in this case, all the expenditures except the cost of paving a parking lot are recorded as cost of acquisition of the land, and these include:

cost of purchase         = $185,000

property taxes             = $    5,200

title and attorney fees = $    3,100

cost of grading             = $    4,100

Total                              = $197,400

Why is barter inefficient?

Answers

Answer:

People didn't want to trade their goods for other goods anymore.

Explanation:

People wanted to have both their item and another item (which they wanted to buy). Then currency was invented.

Many people have argued that the skills needed to be successful in today's workforce have changed. What skills do you feel an individual needs to be successful in a job today? Why do you feel these skills are most important?

Answers

Answer:

the skills of:

1) Basic Technology

2) Communication

3) Problem Solving

4) Collaboration

5) Adaptability

6) Multitasking

7) Social Media

Explanation:

Successful employees have common and detailed career goals and plans. Those who do not, however, prefer to flow in their work lives. The person with goals has a strong internal motivation. They are not discouraged when they fail. It is difficult to separate these people from their work and distract them. A person with goals is already motivated for development. Most importantly, an employee with clear goals often has a clearly defined career and development plan, and he already knows what tools, skills and qualifications will help him in that sequence. A person without goals is like a piece of water moving in the direction of sea waves and winds. Wherever the wind blows or where the waves drive, they will go there.

We could say that five general skills that workers say are most important when it comes to getting hired and being successful in the workplace:

Ability and willingness to learn new skills

Critical thinking and problem solving  

Collaboration and team work  

Interpersonal communication

Ability to analyze and synthesize information.

More specifically, we can list the most important ones nowadays, the skills of:

1) Basic Technology

2) Communication

3) Problem Solving

4) Collaboration

5) Adaptability

6) Multitasking

7) Social Media