Answer:
A) Janice will purchase 3 pounds of potatoes since she will buy them until her consumer surplus ≤ 0. The fourth pound of potatoes costs $1, and Janice is willing to pay only $0.30, so her consumer surplus s negative (-$0.70).
Consumer surplus is the difference between the price that a customer is willing and able to pay for a good and the good actual price.
B) If Janice only had $2 to spend, she would buy 2 pounds of potatoes, since her consumer surplus is positive at 2 pounds.
first pound costs $1, and Janice is willing to pay $1.50, consumer surplus = $0.50
second pound costs $1, and Janice is willing to pay $1.14, consumer surplus = $0.14
Answer:
B. The time spent on the task
Explanation:
The time that Dana spends carrying out her task is a cost to her. That cost can be calculated by ascertaining the gains or benefits she has missed due to the research.
If Dana were not doing the research, she would be engaged in other activities. Those activities could have been of benefit to her, be it financially or otherwise. The benefits foregone are the cost of Dana doing the research.
Answer:
Both curves shifts rightwards.
Explanation:
When there is an improvement in the technological process then this will to increase the production level of the goods. Technological advancement increases the potential of an economy which in turn increases the supply of goods at the same price level. Improvement in the technological process increases the economy's productivity.
This will shift the short run aggregate supply curve and long run aggregate supply curve rightwards.
Answer:
(1) understated
(2) understaded
(3) unchanged
Explanation:
The amount of equivalent units will be higher as the ending inventory of work in process will be above of what it should be.
As we have more equivalent untis the cost per equivalent unit will be lower:
So both, conversion cost and total cost per equivalent untis will e lower than it should be as are getting divided over a larger amount.
the physical amount of units worked during the month and those which are complete will not be affected as the percentage of completion is an accounting tool to calculate the cost not to count the amount of units in possession
Answer:
$76,100 net operating loss
Explanation:
The computation of the overall company net operating income (loss) is shown below:
= East sales - east Variable costs - east Traceable fixed costs - east Allocated common corporate costs - west Allocated common corporate costs
= $550,000 - $198,000 - $169,500 - $117,500 - $141,100
= -$76,100 loss
Since the west division is eliminated so all the items would be ignored except Allocated common corporate costs
