Answer:
a. What is the firm's MRP for each of the first five workers?
Worker 1 = $325Worker 2 = $242Worker 3 = $171Worker 4 = $109Worker 5 = $53The marginal revenue product = units produced x units price
b. Suppose that the monopolist is subjected to rate regulation and the regulator stipulates that it must charge exactly $58 per unit for all units sold. At that price, what is the firm's MRP for each of the first five workers?
Worker 1 = $290Worker 2 = $232Worker 3 = $174Worker 4 = $116Worker 5 = $58c. If the daily wage paid to workers is $242 per day, how many workers will the unregulated monopoly demand?
2 workers only, since their MRP ≥ $242 per dayd. If the daily wage paid to workers falls to $113 per day, how many workers will the unregulated monopoly demand?
3 workers only, since their MRP ≥ $113 per daye. Comparing your answers to parts c and d, does regulating a monopoly's output price always increase its demand for resources?
No it doesn't, since regulation always affects markets. Markets need regulation, but that doesn't mean that the effects of regulation are always positive for everyone involved. In this case, regulation is probably good for customers, but bad for the workers employed and the business itself.Explanation:
unit sold MR worker
1 $67 1
2 $66 1
3 $65 1
4 $64 1
5 $63 1
6 $62 2
7 $61 2
8 $60 2
9 $59 2
10 $58 3
11 $57 3
12 $56 3
13 $55 4
14 $54 4
15 $53 5
What is an incentive
Answer:
An incentive is something that motivates or encourages a person to take a specific action. Incentives can be positive, such as a reward or a benefit, or negative, such as a punishment or a cost. Incentives can be used to influence behavior and decision-making, and they are often used in economic and business contexts to motivate employees, consumers, or other stakeholders. Incentives can take many forms, including financial rewards, recognition, privileges, or other benefits.
00 For Market failures means that the market has not achieved its optimum production outcome. This means that it has not produced the correct quantity of goods and services. QUESTION 1 Conduct a research to any small business that is manufacturing goods in your community. Make an appointment to interview the owner for the purpose of collecting the information using the questionnaire below. 1.1 General information: ● Name of the firm / business Specify the type of goods or service ● ● Position of the person interviewed ● Date of the interview 1,2 Explain briefly the negative impact the following factors have in your business. (10) Lack of information: ● Price discrimination Immobility of factors of production with special reference to: Physical capital Structural changes ● ● (1) ● (1) (1) (1) [14] QUESTION 2: Interview 3-4 community members that reside near the business you have visited. 2.1 Ask them to name any TWO negative externalities and TWO positive externalities caused by the local business, (2 x 2) (4) 2.2 Request them to list any TWO characteristics of public goods. (2 x 1) (2) 2.3 Use the negative externality and positive externality graphs to explain the impact this business have to the society (10) [16]
The first step in researching a small business in your neighborhood is to find a suitable nearby manufacturing company.
Once you do, contact the manager or owner to arrange an interview. Gather general information during the interview, such as the name of the company or business, what types of products or services they provide, the interviewer's position, and the time and date of the interview.
Then, focus on the detrimental effects different situations can have on the company. Briefly describe the impact on business of informational gaps, price discrimination, immobility of production variables (with a focus on physical capital), and structural changes.
Interview three to four locals who live close to the establishment you just visited. Ask them to list two unfavorable and two beneficial externalities brought about by the neighborhood business. Ask them to add two properties of public goods to the list as well.
Finally, use the data from the interviews to create graphs showing the positive and negative externalities of business on society. These infographics will graphically describe the costs and benefits that the company's neighborhood has.
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you want to buy 1,000 shares of Verizon at $32 and it’s currently trading at $32.50. You place a BUY LIMIT ORDER, ALL OR NONE, DAY ORDER. You are at the front of the Order Book, and 200 shares of Verizon become available at your $32 price. Based on these terms, what will happen with your order?
Option (c), Your broker will wait until all 1,000 shares are offered for purchase for $32 before placing the order; however, she will only do so until the close of trade today.
The existence of a day order in a limit order is optional.Brokers commonly convert limit orders to day-only transactions by default, and any unfulfilled orders at market close are canceled without execution. Other brokers might be able to offer a particular number of days, typically in increments of 30 (for instance, 30, 60, or 90 days).
On a limit order, what precisely does "all or none" mean?An all-or-none (AON) order is one that requires that either the whole stock buy or sale be performed or nothing at all. Orders issued by the AON that are not immediately executable remain in force until they are executed or revoked.
What separates a limit order from a day order?A day order is a clause that is appended to an instruction to a broker to execute a transaction at a particular price and that, if it is not executed, expires at the close of the trading day. A day order cannot be a limit order to buy or sell shares and is only effective for the remaining hours of that trading day.
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The complete question is:
4 - Assume you want to buy 1,000 shares of Verizon at $32 and it’s currently trading at $32.50. You place a BUY LIMIT ORDER, ALL OR NONE, DAY ORDER. You are at the front of the Order Book, and 200 shares of Verizon become available at your $32 price. Based on these terms, what will happen with your order?
Select one:
a. Your broker will buy the 200 shares at $32 now, and wait until the end of the day’s trading to see if more shares become available at your price
b. Your broker will buy the 200 shares at $32, and cancel the balance of the order
c. Your broker will not buy them now, and will wait until all 1,000 shares become available at $32, but only until the end of today’s trading at which point she’ll cancel the order
d. Your broker will not buy them now, and will wait until all 1,000 shares become available at $32; if this does not happen by the end of today, she will try again on the next day of trading
If the percentage increase in price is 15 percent and the value of the price elasticity of demand is -3, then quantity demanded?
a. Will increase by 45 per cent
b. Will increase by 5 per cent
c. Will decrease by 45 per cent
d. Will decrease by 5 per cent
Answer:
what is the question and where areu from
THE FOLLOWING INFO IS AVAILABLE FOR BERLIN CORPORATION FOR THE YEAR ENDING 12/31/20. OTHER REVENUE/GAINS= 12700, OTHER EXPENSES/LOSSES=13300, COST OF GOODS SOLD= 156000SALES 592000, OPERATING EXPENSES= 186000, SALES RETURNS= 40000. PREPARE A STEP-BY-STEP INCOME STATEMENT. TAX RATE IS 30 PERCENT
Based on the information available for Berlin Corporation, the step - by - step income statement would be:
Berlin Corporation.
Income Statement
Sales Revenue $592,000
Less: Sales Return $40, 000
Net Sales $552, 000
Less : Cost of Goods sold ($156, 000)
Gross Profit $396, 000
Less Operating expenses: (186, 000)
Income from operations $210, 000
Other Revenue /Gains 12, 700
Other Expenses /Losses (13, 300) ( 600 )
Income before income taxes $209 ,400
Less: Income tax expense ($62, 820)
Net Income / (Loss) $146,580
What goes into an income statement?An income statement is the financial document that is used to find the amount of net income or loss that a company made in a certain period of time which is often a year or a quarter.
The main components of a net income statement are the revenue, the cost of goods sold, the gross profit, the operating expenses, and the net income.
To find the net income, subtract cost of goods sold and the operating expenses from the sales revenue.
In this case, you need to find the taxes to Berlin Corporation as well:
= Income before taxes x Income tax rate
= 209, 400 x 30%
= $62, 820
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Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?
Using the appropriate tool from the Accountant Tools menu, the 4 options that can be batch reclassified in QuickBooks Online Accountant are options A, B, C and F:
ClassesCustomersProducts and ServicesAccountWhat is QuickBooks Online Accountant?In the above question, too batch reclassify these items, you can use the "Batch Reclassify Transactions" tool, which can be found under the Accountant Tools menu.
This tool allows you to select multiple transactions and reclassify them to a different account, class, customer, or product/service.
Therefore, Locations, tax codes, and suppliers cannot be batch reclassified using this tool. However, you can edit individual transactions to change their location, tax code, or supplier if necessary.
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See full question below
Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?
Classes
Customers
Products and Services
Locations
Tax Code
Account
Suppliers
The information on the job application should be consistent with which of the following?
Resume only
Resume and cover letter
Resume,cover letter and social media profiles only
Resume cover letter social media profiles and interview answers
Answer:
Resume and cover letter should be the only things you will need normally employers don't ask for any social media it also depends of the job you're applying for if it's a high end job 9 times out of 10 they will go through your social medias but won't request them on your application.
Explanation:
comment if i misunderstood I'll be happy to help
Answer:Resume and cover letterrr
Explanation:
why is manufacturing becoming more competitive
The competitive threat that outsiders will enter a market is weaker when
The competitive threat that outsiders will enter a market is weaker when the incumbents enjoy substantial cost advantages.
The competitive threat that outsiders will enter a market refers to the possibility that new firms will enter a market to compete against existing firms. It is the degree of competition in a market that is determined by the ability of other companies to enter the same market and offer similar goods or services at a lower cost.
There are certain factors that determine the competitive threat of outsiders, these are:Ease of Entry: When the cost of entering a market is low, the threat of new entrants is high and vice versa.Brand loyalty: In markets where consumers are more loyal to the existing brands, the competitive threat of new entrants is weaker.
Patents: In markets where incumbents hold many patents, the competitive threat of new entrants is weaker.Cost advantage: The competitive threat of outsiders is weaker when incumbents enjoy substantial cost advantages.Cost advantage is the answer to your question.
The competitive threat that outsiders will enter a market is weaker when incumbents enjoy substantial cost advantages.
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What is the Internal Revenue Code?
A.) a collection of tax laws, their interpretations, and federal tax rulings
B.) a list of tax brackets and the percentages each person must pay
C.) a book used solely by tax accountants to help people complete their filings
D.) a passcode that citizens must have to file their taxes online
Internal Revenue Code is collection of tax laws, their interpretations, and federal tax rulings.
Option A is the correct answer
What is internal revenue code?The Internal Revenue Code are set of laws and rules created to guide tax related matters
It was created by revenue service for the public on tax payment.
Therefore, Internal Revenue Code is the collection of tax laws, their interpretations, and federal tax rulings
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Explain the meaning of environmental scanning. Illustrate with examples the
relevance of technological, political, economic, social, and regulatory environments
in the context of marketing strategy. How managers are involved in environmental
scanning?
Environmental scanning refers to the process of gathering and analyzing information about the external factors that can impact an organization's business environment.
Technological factors include advancements in technology, such as the rise of e-commerce, mobile applications, or automation, which can create new marketing channels or change consumer behaviors.
Political factors encompass government policies, regulations, and political stability that can impact marketing strategies. For example, changes in trade policies or regulations related to data privacy can influence international marketing activities.
Economic factors include economic conditions, such as inflation rates, exchange rates, or consumer purchasing power, which can affect consumer behavior and demand for products or services.
Social factors refer to societal trends, cultural norms, and consumer preferences that can influence marketing strategies. For instance, shifts in consumer values towards sustainability or increased focus on health and wellness can shape product development and advertising campaigns.
Regulatory factors involve laws and regulations that organizations must comply with, such as consumer protection laws or industry-specific regulations. These can impact marketing activities, advertising content, or product labeling.
Managers play a crucial role in environmental scanning. They are responsible for monitoring and analyzing the external environment, identifying relevant trends and potential opportunities, and making informed decisions based on the insights gained.
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c) “Shadow price is the increase in value created by having one additional unit of a limiting resource at original cost”. Provide a comprehensive real world example of where a shadow price can be calculated with multiple limiting factors and with more than one product. Your answer should be in a form of a short case study roughly 4 or 5 sentences. (5 marks)
A real world example of shadow pricing would be in a case where a manufacturer produces two product A and B with 2 input such as raw materials and labor.
How is this so?Two products (A & B) are produced through the use of two primary resources: labor & raw materials. To produce one unit of product A, we require roughly an hour's worth (60 minutes) of work time from our available pool.
Also, approximately two pounds worth of our current stockpile must be incorporated into each instance as well. Comparatively speaking, producing one unit from group B takes almost three times that much effort (3 hours' time), but only requires about half as much by weight (a single pound).
Our maximum allowance stands at exactly 60 work-hours across all levels plus another hundred pounds maximum in terms concerning these earthly elements - with that established pricing amounts to a flat rate where five dollars buys us one metric pound whereas ten dollars goes towards hourly wages; so what is their shadow price?
When dealing with limited input availability, the optimal allocation of resources and production process optimization can be achieved using shadow prices. In this regard, it has been determined that labor's shadow price stands at $10 per hour while the shadow price for raw materials is set at $5 per pound.
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Financial aid letters show your aid and costs of attendance for _____.
Financial aid letters show your aid and costs of attendance for an academic year.
What is a financial aid letter?This is a letter that a tertiary institution gives to a student to show the cost of their attendance at the college they are currently enrolled in.
The period covered in the letter is the academic year which means that the costs associated with two semesters of attending the university will be shown to the student.
These costs will include things like tuition fees, room and board fees, transportation and other miscellaneous costs.
The letter will also include all the financial aids that the student may receive including federal grants, college grants, state grants, and federal loan options that a person may be eligible for.
In conclusion, financial aid letters show the costs of attendance in an academic year and the aid that comes with it.
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what are two examples of new and developing industries in the united states
The business of cannabis. ...
Driverless cars. ...
Cleantech. ...
Lab grown meat. ...
Commercial space travel. ...
Biotech. ...
Esports. ...
Cybersecurity.
Question 2 (1 point)
Alise works for a life insurance company as a claims agent. She processes insurance
payments for the families of recently deceased persons. What quality might Alise
find helpful in her career?
being artistic and enjoying performing
Opreferring to work with wildlife
liking to create things with her hands
being kind and a good listener
If the policyholder makes the requisite premium payments, the insurer is obligated to pay the death benefit upon the insured's passing. Premium amounts are influenced, in part, by the likelihood that the insured will pass away before the policy's death benefit is paid by the insurer.
Why do life insurance providers inquire as to whether you have other insurance?Your final life insurance prices will be based on these since the insurers want to know how dangerous you are to insure.
If everyone passes away, how do life insurance companies make money?When a policyholder passes away, the company invests these premiums and utilizes the proceeds to pay claims to the beneficiaries of the policy. The interest and dividends received on the investments made with premiums generate income for the company as well.
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The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse.
a. Issued 60,000 shares of non-par common stock in exchange for $600,000 in cash.
b. Purchased equipment at a cost of $100,000. $25,000 cash was paid and a notes payable to the seller was signed for the balance owed.
c. Purchased inventory on account at a cost of $182,000. The company uses the perpetual inventory system.
d. Credit sales for the month totaled $270,000. The cost of the goods sold was $162,000.
e. Paid $8,000 in rent on the warehouse building for the month of March.
f. Paid $8,050 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021.
g. Paid $162,000 on account for the merchandise purchased in 3.
h. Collected $121,500 from customers on account.
i. Recorded depreciation expense of $2,500 for the month on the equipment.
Required:
Prepare journal entries to record each of the transactions listed above.
The Journal Entries to record the transactions for Wainwright Corporation in the month of March 2021 are as follows:
Journal Entries:
a. Debit Cash $600,000
Credit Common Stock $600,000
To record issuance of 60,000 shares of non-par common stock for cash.
b. Debit Equipment $100,000
Credit Cash $25,000
Credit Notes Payable $75,000
To record the purchase of equipment.
c. Debit Inventory $182,000
Credit Accounts Payable $182,000
To record the purchase of inventory on account.
d. Debit Accounts Receivable $270,000
Credit Sales Revenue $270,000
To record the credit sales for the month.
d. Debit Cost of Goods Sold $162,000
Credit Inventory $162,000
To record the cost of goods sold.
e. Debit Rent Expense $8,000
Credit Cash $8,000
To record the payment of rent on the warehouse building.
f. Debit Prepaid Insurance $8,050
Credit Cash $8,050
To record the prepayment of insurance for one year, from April 1, 2021.
g. Debit Accounts Payable $162,000
Credit Cash $162,000
To record payment on account.
h. Debit Cash $121,500
Credit Accounts Receivable $121,500
To record receipt of cash on account.
i. Debit Depreciation Expense $2,500
Credit Accumulated Depreciation $2,500
To record depreciation expense for the month.
Data Analysis:
a. Cash $600,000 Common Stock $600,000
b. Equipment $100,000 Cash $25,000 Notes Payable $75,000
c. Inventory $182,000 Accounts Payable $182,000
d. Accounts Receivable $270,000 Sales Revenue $270,000
d. Cost of Goods Sold $162,000 Inventory $162,000
e. Rent Expense $8,000 Cash $8,000
f. Prepaid Insurance $8,050 Cash $8,050
g. Accounts Payable $162,000 Cash $162,000
h. Cash $121,500 Accounts Receivable $121,500
i. Depreciation Expense $2,500 Accumulated Depreciation $2,500
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Jayleen Company makes two products: Carpet Kleen and Floor Deodorizer. Operating information from the previous year follows. Carpet Kleen Floor Deodorizer Units produced and sold 6,000 5,000 Machine hours used 6,000 2,000 Sales price per unit $ 8 $ 13 Variable cost per unit $ 6 $ 10 Fixed costs of $38,000 per year are presently allocated equally between both products. If the product mix were to change, total fixed costs would remain the same. The contribution margin per machine hour for Floor Deodorizer is:
Answer:
$7.50 per machine hour
Explanation:
Calculation to determine what The contribution margin per machine hour for Floor Deodorizer is:
First step is to calculate the CM
CM = $13 – 10
CM= $3/ unit
Second step is to calculate Hours/ unit
Hours/ unit= 2,000 / 5,000
Hours/ unit= 0.4 hours
Now calculate the contribution margin per machine hour
Contribution margin per machine hour=$3/ 0.4 hours
Contribution margin per machine hour= $7.50 per machine hour
Therefore The contribution margin per machine hour for Floor Deodorizer is:$7.50 per machine hour
___________ is a way of saving a file so it can be used by a different program. A. Selecting B. Exporting C. Citing D. Formatting Please select the best answer from the choices provided A B C D Mark this and return
Answer:
B. Exporting
Explanation:
in the cash book, every cash receipt is______ and every cash payment is_______
Q5. The "Business Expenses" portion of Amy's expenditures refers to the cupcake business she started out of her
home. It is becoming increasingly popular, and she is considering taking out a loan of $5000 that will help her increase
the size of her business. Determine the monthly payments for each loan offer below.
2 Year Loan
Business Loan Amortization Schedule
Date
Jan, 2020
Feb, 2020
Mar, 2020
Apr 2020
May, 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov, 2020
Dec 2020
2020
3 Year Loan
Interest
$26
$25
$24
$23
$21
$20
$19
$18
$17
$16
$15
$14
$239
E
Principal
$196
$197
$198
$199
$200
$201
$202
$203
$205
$206
$207
$200
$2,424
Balance
$4,004
$4,606
$4,400
$4,209
$4,008
$3,807
$3,604
$3,401
$3,196
$2.991
$2.784
$2.576
$2,576
The monthly payments for each loan offer Amy's cupcake business is considering taking are
2-year loan = $222 3-year loan = $153.How are the monthly payments determined?Using the amortization schedules provided, the monthly payments consist of the principal repayment and the interest.
For instance, the first monthly payment of the two-year loan of $222 consists of $26.00 in interest and $196 in principal repayment. Similarly, the second monthly payment of $222 consists of $25 in interest and $195 in principal.
In the case of the three-year loan, the monthly payment totals $153, consisting of $26 in interest and $127 in principal repayment for the first month and $25 and $128, respectively for the second month.
Thus, as the interest reduces, the principal repayment increases from one month to the next for all monthly payments.
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Large businesses depend on small businesses why?
Answer:
Small businesses can signal emerging trends and needs to large businesses
PLEASE HELP ASAP
An engineer has designed a valve that will regulate water pressure on an automobile engine. The valve was tested on 270 engines and the mean pressure was 6.0 pounds/square inch (psi). Assume the population standard deviation is 0.6. The engineer designed the valve such that it would produce a mean pressure of 6.1 psi. It is believed that the valve does not perform to the specifications. A level of significance of 0.05 will be used. Find the P-value of the test statistic. Round your answer to four decimal places.
Since the P-value is less than the significance level, = 0.05 , we reject the null hypothesis
Decision is reject H0
What is P-Value?The P-value is a crucial metric of statistical significance utilized to measure the probability of obtaining a result equal to or more extreme than the observed one, provided that the null hypothesis is accurate.
If its value is lower than the predetermined level of significance (most commonly set at 0.05), then rejecting the null hypothesis is justified. The smaller the calculated P-value, the stronger the evidence against the null conjecture. Consequently, its ample usage in hypothesis testing has established it as an essential element in assessing the wordiness of research findings.
How to solve:
Given :
Sample size, n = 270
Sample mean,
= 6
Population standard deviation,
= 0.6
Population mean,
= 6.1
Significance level,
= 0.05
P-value : 0.0061
P-value with test statistic z= -2.74 is
Conclusion :
There is sufficient evidence to support the claim that the valve does not perform to the specifications
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Property that a business uses to secure a loan is
Answer:
Business loans are usually secured with collateral, which is an asset pledged to the lender by the borrower for the life of the loan. The collateral can be seized and sold to repay the loan if the borrower defaults. Lenders use collateral to reduce the risk of losing money on the loan.
Explanation:
A schedule or curve that shows the total quantity of output (real GDP) demanded at alternative price levels in a given time period, ceteris paribus is called_?
Aggregate demand
Which is the real GDP demanded at alternative price levels in a given time period.
I hope this helps! :)
A) What does it mean for a country to have a negative interest rate? What does it mean for borrowers?
B) Do some research and find countries that currently have a negative interest rate.
C) Why would a central bank lower the interest rate beyond zero?
A) When a country has a negative interest rate, it implies that the central bank, or the monetary authority of the country, has taken a stance that is intended to promote spending and investment.
B) Countries that currently have a negative interest rate are:Switzerland. -0.75 percentEuropean Central Bank (ECB) -0.50 percentDenmark -0.60 percentJapan -0.10 percentSweden -0.35 percent
C) Lowering interest rates beyond zero serves as a stimulus for the economy, causing people to spend more money and businesses to invest more in capital projects.
A) When a country has a negative interest rate, it implies that the central bank, or the monetary authority of the country, has taken a stance that is intended to promote spending and investment. This is accomplished by creating a climate that encourages borrowers to borrow and lenders to lend.
Negative interest rates make it less expensive for businesses and individuals to borrow money, making it easier for them to invest in growth or make major purchases. As a result, consumption increases, and deflation, or a decrease in prices, can be reduced.
B) Countries that currently have a negative interest rate are:Switzerland. -0.75 percentEuropean Central Bank (ECB) -0.50 percentDenmark -0.60 percentJapan -0.10 percentSweden -0.35 percent
C) Lowering interest rates beyond zero serves as a stimulus for the economy, causing people to spend more money and businesses to invest more in capital projects. As a result, low-interest rates encourage borrowers to borrow more money, lowering borrowing costs and increasing spending.
This spending can help increase economic growth and reduce unemployment by putting more money in people's pockets and increasing demand for goods and services.
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The Three Little Pigs purchased three houses for a total cost of $160,000. Appraisal values for the three completed houses were: straw house, $40,000; wood house $60,000; and brick house $100,000. Using the basket purchase allocation, the recorded value of the brick house should be ______.
Using the basket purchase allocation, the recorded value of the brick house should be $80,000.
First step is to calculate the allocation percentage
Straw house Wood house Brick house Total
Fair market value $40,000 $60,000 $100,000 $200,000
Percentage 20% 30% 50%
($40,000/$200,000) ($60,000/$200,000) ($40,000/$200,000)
Second step is to allocate using basket purchase allocation
Straw house=20%×$160,000
Straw house=$32,000
Wood house= 30%×$160,000
Wood house=$48,000
Brick house=50%×$160,000
Brick house=$80,000
Inconclusion the recorded value of the brick house should be $80,000.
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Ruiz Co. provides the following sales forecast for the next four months. April May June July Sales (units) 530 610 560 650 The company wants to end each month with ending finished goods inventory equal to 30% of next month's forecasted sales. Finished goods inventory on April 1 is 159 units. Prepare a production budget for the months of April, May, and June
Answer:
Ruiz Co.
Production Budget
April May June
Sales (units) 530 610 560
Ending inventory 183 168 195
Total units available 713 778 755
Beginning inventory 159 183 168
Production 554 595 587
Explanation:
a) Data and Calculations:
Production Budget
April May June July
Sales (units) 530 610 560 650
Ending inventory 183 168 195 0
Total units available 713 778 755 650
Beginning inventory 159 183 168 195
Production 554 595 587 455
b) The production budget shows the units to be produced. Ruiz Co. can begin the budgeting by estimating the sales units (market demand) for each period. The sales unit is then added to the ending inventory to obtain the total units that are available for sale. From this figure, the beginning inventory is deducted to arrive at the units that must be produced to meet the sales target.
The difference between small business owners and entrepreneurs is that small business owners:
The difference between small business owners and entrepreneurs is that small business owners start a type of business that already exists within the marketplace.
Who is a small business owner and an entrepreneur?An entrepreneur is a person who innovates and creates new products and services. The entrepreneur is one of the factors of production in economics. The entrepreneur is the factor that organises the other factors of production. The reward of an entrepreneur is either a profit or a loss.
A small business owner does not innovate. Instead, a small business owner establishes a business based on products that already exists. For example, if a person opens an e-commerce store to sell jewelleries made by local jewellers in her area, the person is a small business owner.
The risk and capital outlay of an entrepreneur is higher than that of a small business owner. Entrepreneurs can also be small business owners but not all small business owners can be entrepreneurs. There is already a customer base for small business owners, while entrepreneurs have to build their customer base.
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All infrastructure is underground.
A. True
B. False
All infrastructure is underground. This is a false statement because infrastructure can not be underground.
What is Infrastructure?Roads, communications, transportation hubs, businesses, bridges, dams, power, medical facilities, and educational institutions make up the infrastructure.
Infrastructure is referred to as the fundamental physical framework of an organization, region, or country. It frequently pertains to the creation of public goods or industrial activities. Transportation, communication, sewage, water, and educational infrastructure are a few examples.
The two primary categories of infrastructure investments are as follows: Social infrastructure consists of institutions including hospitals, affordable housing, and schools. Infrastructure for the economy, including power, sewage, water, airports, and highways.
Therefore, The statement is false.
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Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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