The need to choose one goods on a comparison of marginal benefits and marginal costs always involves an opportunity cost.
<h3>What is an
opportunity cost?</h3>
This refers to a value of what is rejected in order to perform the chosen alternative.
Hence, the need to choose one goods on a comparison of marginal benefits and marginal costs always involves an opportunity cost.
Therefore, the Option D is correct.
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Answer:
A credit balance of $3 comma 200
Explanation:
When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are
;
Debit Cash account
Credit Unearned fees or deferred revenue.
As the service is performed and the revenue is earned,
Debit Unearned fees
Credit Revenue.
Total amount collected in advance as at end of February
= $3,000 + $4,000 + $700
= $7,700 (Cr in Unearned revenue)
Amount of revenue earned as at end of February
= $4,500 (Dr in Unearned revenue)
Balance in in Unearned Revenue at the end of February
=$7,700 - $4,500
= $3,200
Answer:
Q is 98
Explanation:
Marginal (average) cost (including opportunity cost) = $8 + $2 = $10
Profit is maximized when MR = MC = 10.
P = 402 - 2Q
Total revenue (TR) = P x Q = 402Q - 2Q^2
MR = dTR/dQ = 402 - 4Q
Equating with MC,
402 - 4Q = 10
4Q = 392
Q = 98
Answer:
Equivalent units for materials are 68,400 units
Equivalent units for conversion are 66,800 units
Explanation:
Eighted average costing adds the value of beginning invventory in the period cost to calculate the average cost per unit.
According to this method the equivalent units formula is as follow
Equivalent Units = Unit completed and transferred to Finished goods + Units in Work in Process x Completion percentage
Material
Equivalent Units = 62,000 + 8,000 x 80% = 68,400 units
Conversion
Equivalent Units = 62,000 + 8,000 x 60% = 66,800 units
When the new law is passed, the effect on the supply and demand of apartments is that Supply down, demand up.
<h3>What happens when a price ceiling is below the equilibrium?</h3>
When the equilibrium price which is $3,000 in this case, is higher than the price ceiling of $2,600 in this case, more people will demand apartments because they will be more likely to afford it.
Supply on the other hand, will decrease because less people will want to make their places available at below equilibrium price.
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