Kode9595

13.09.2019 • 

Business

Question: chick-fil-a’s “eat mor chikin” campaign features three cows holding signs that say things like “save the cows, eat more chikin! ”
a) if consumers ate more chicken and less beef, what would happen to the price of chicken and why? illustrate your answer with the supply and demand curves for chicken.
b) if consumers ate more chicken and less beef, what would happen to the price of beef and the quantity of beef supplied? w
2) what effect does establishing a minimum wage have on the market for unskilled labor? illustrate your answer showing clearly (marked in red) what happens to employment of low skilled workers.
3) given your answer to (2) above, what would you expect will happen to the demand for self-check-out kiosks when the minimum wage increases? explain and illustrate.
4) how will free international trade affect people’s standard of living and why?

Ответ:

kutiracing

01.05.2020

Business

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Results are below.

Explanation:

To calculate the production budget for January, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

January:

Production= 10,000 + (12,000*0.2)

Production= 12,400 units

February:

Production=  12,000 + 13,000*0.2 - (12,000*0.2)

Production= 12,200

Now, the raw material budget:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 12,400*4 + (12,200*4)*0.4

Purchases= 69,120 pounds

Total cost= 69,120*2= $138,240

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