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2 years ago

If the product price is $283 the per-unit economic profit at the profit-maximizing output is:________

Business

1 answer:

dusya [7]2 years ago

6 0

The per-unit economic profit at the profit-maximizing output is $112 if the product price is $283.

<h3>How do we calculate profit-maximizing price?</h3>

The rule for calculating a profit-maximizing perfectly competitive firm is to produce the level of output where Price equals the Marginal Revenues= Marginal cost.

Hence, the economic profit is calculated by Total Revenue - (Explicit Costs + Implicit Costs) because it entails the difference between the revenue received from the sale of an output and the costs of all inputs.

Therefore, the per-unit economic profit at the profit-maximizing output is $112 if the product price is $283.

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Discuss the 3 types of bailments and identify the legal ramifications regarding possession or acquisition and treatment of the b

ra1l [238]

Answer:

Three types of bailments are:

1) Bailment that benefits both the bailor and the bailee.

2) Bailment that benefits only the bailor.

3) Bailment that benefits only the bailee.

Explanation:

Bailment can be understood as a temporary transfer of the property from one person to another for a given specific time period and also for some specific purpose. There is a difference between bailment and the sale, as in the former the ownership of the property is not transferred. The owner of the property who delivers the property to another person is called bailor, whereas, the person who temporarily receives the property is called bailee.

There are basically three types of bailment:

1) Bailment that benefits both the bailor and the bailee: In this case, both the party benefits in the bailment process. The most suitable example is renting a house for another person for a living. Here, the bailor is benefited as he receives the renting fee and the bailee gets the house for living.

2) Bailment that benefits only the bailor: In this only, the bailor is benefited in the bailment process. The best example is the free car parking service by a valet. The bailor is benefited as he gets the car parking service, but as the service is free, the bailee does not receive any benefit out of it, However, the damage to the car might incur certain liability on the hands of the bailee.

3) Bailment that benefits only the bailee: In this bailment procedure, only the bailee is the one who receives the benefits. The most appropriate example of this is the library system. In the library, the person who borrows the book is the bailee and receives the benefit in the form of a book, whereas, the bailor (library) does not benefit anything out of it.

Some legal ramifications related to the possession and acquisition of the bailment:

If the bailment term is over, then the bailor has the right to reclaim the property from the bailee and bailee has to return it to the bailor. However, if the term is over after a certain fixed period of time and the bailor has not claimed for the property, then the bailee can address the property as abandoned to the bailor.

In other cases, if the bailor has not reclaimed the property or did not make any attempt to do so, and the fixed duration has passed, then in such case, the bailee can claim the property as its own. However, to stay in good faith, the bailee should show the bailor that the property has been abandoned.

7 0

3 years ago

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Stan

nexus9112 [7]

Answer:

Variable overhead rate variance $1,050 unfavorable

Explanation:

Variable overhead rate variance is the difference between the standard variable overhead cost allowed for the actual hours worked and the actual variable overhead incurred for the period

470 hours should have cost (470× $ 5.00) 2,350

but did cost 3,400

Variable overhead rate variance 1050 unfavorable

Variable overhead rate variance $1,050 unfavorable

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3 years ago

Received $13,000 cash from the issue of common stock. Performed services on account for $45,000. Paid the utility expense of $1,

kirill115 [55]

Answer:

Please see explanation

Explanation:

The transactions shall be recorded in the general ledger in the following way:

Debit Credit

Cash $13,000

Common stock $13,000

(Received $13,000 cash from the issue of common stock)

Accounts receivable $45,000

Revenue $45,000

(Performed services on account for $45,000)

Utility expense $1,100

Cash $1,100

(Paid the utility expense of $1,100)

Cash $33,000

Accounts receivable $33,000

(Collected $33,000 of the accounts receivable)

Salaries expense $6,250

Salaries payable $6,250

(Recorded $6,250 of accrued salaries at the end of the year)

Retained Earnings $1,000

Cash $1,000

(Paid a $1,000 cash dividend to the stockholders)

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3 years ago

Read 2 more answers

Aerotron Electronics is considering the purchase of a water filtration system to assist in circuit board manufacturing. The syst

abruzzese [7]

Answer:

Dheod d

Explanation:

4 0

3 years ago

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Donna's Restaurant is a popular café that specializes in home-cooked meals, friendly service, and a menu that contains vegan and

Citrus2011 [14]

Answer: True

Explanation: Strategic positioning refers to the different position a company makes by taking certain actions and implementing some special strategies.

In the given case, Donna's restaurant is offering some services to the customers that no other entity in the industry is serving, which is resulting in a unique image of Donna in the industry.

Thus, from the above we can conclude that the answer is true.

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3 years ago