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Morgarella [4.7K]
1 year ago
13

A surplus of a product will arise when price is above equilibrium with the result that quantity demanded exceeds quantity suppli

ed. above equilibrium with the result that quantity supplied exceeds quantity demanded. below equilibrium with the result that quantity demanded exceeds quantity supplied. below equilibrium with the result that quantity supplied exceeds quantity demanded.
Business
1 answer:
zhenek [66]1 year ago
8 0

A surplus of a product will arise when price is, above equilibrium, with the result that quantity supplied exceeds quantity demanded.

<h3>What will a surplus of a product lead to?</h3>

The amount of utility or value that consumers and producers receive as a result of transactions is referred to as surplus in economic theory. Karl Marx explicitly theorized the economic idea of surplus product in his critique of political economy.

When the amount supplied exceeds the amount required, there is an excess supply, which is known as a market surplus. Consequently, some producers won't be able to sell all of their products. To make their goods more appealing, they will be compelled by this to reduce its price. Every producer and consumer in an economy seeks to increase excess in order to increase utility.

To learn more about surplus, visit:

brainly.com/question/15224764

#SPJ1

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Production records show that there were 440 units in the beginning inventory, 30% complete, 1,440 units started, and 1,600 units
Nimfa-mama [501]

Answer and Explanation:

The computation is shown below:

a. The number of units processed is

= Beginning work in process units + completed and started units - transferred out units

= 440 units + 1,440 units - 1,600 units

= 280 units

b. The material cost per unit is

= Total cost ÷ equivalent units

where,

Total cost is

= Opening work in process + material cost

= $2,220 + $6,610

= $8,830

And, the equivalent units is

= Units transferred out + ending work in process

= 1,600 + 280

= 1,880

So, the material cost per unit is

= $8,830 ÷ 1,880 units

= $4.70

c. The conversion cost per unit is

= Total cost ÷ equivalent units

where,

Total cost is

= Opening work in process + labor cost + overhead cost

= $1,720 + $4,800 + $1,300

= $7,820

And, the equivalent units is

= Units transferred out + ending work in process × completion percentage

= 1,600 + 280 × 40%

= 1,712

So, the material cost per unit is

= $7,820 ÷ 1,712 units

= $4.57

8 0
3 years ago
Suppose that the united states and canada each produce only two products, televisions and food. The united states can produce 10
Alex

Answer: Trade between the two countries is beneficial when United States trade food to Canada and Canada would trade televisions to the United States.

Explanation: In international trade, each country will produce a good in which it has a comparative advantage (lower opportunity cost).

Opportunity cost of food is,

Unites states = \frac{100}{150} = 0.66

Canada = \frac{300}{330} = 0.90

Opportunity cost of television is,

Unites states = \frac{150}{100} = 1.5

Canada = \frac{330}{300} = 1.1

Since, opportunity cost of food is lower in the United states, United states will export food.

Opportunity cost of television is lower in Canada, Canada will export television to the United States.

6 0
3 years ago
The following information is related to Kingbird Company for 2017.
Sati [7]

Answer:

Net income is $2,474,000

Retained earning for the year 2017 is $2,142,000

Retained earnings balance at December 31, 2017 is $3,123,000

Explanation:

A multi-step income statement is an income statement that shows gross profit and the detailed of each category of expenses and incomes to arrive at the net income of a company for a particular period.

This can be prepared as follows:

Kingbird Company

Mutiple step income statement

for the year ended December 31, 2017

<u>Details                                                                  $         </u>

Sales Revenue                                           26,100,000

Cost of goods sold                                  <u>  (16,100,000) </u>

Gross profit                                                10,000,000

Operating expenses:

Selling and administrative expenses      <u>  (4,710,000) </u>

Operating income                                       5,290,000  

Other income (loss):

Gain on the sale of investments                     111,000

Write-off of goodwill                                      (821,000)

Loss due to flood damage                            (391,000)

Interest income:

Interest revenue                                          <u>     71,000  </u>

Income before tax                                       4,260,000

Income taxes for 2017                              <u>  (1,254,000) </u>

Income after tax                                          3,006,000

Extraordinary items:

Loss on wholesale div. disp. (net of tax)      (441,000)

Loss on wholesale div. op. (net of tax)       <u>   (91,000) </u>

Net income                                                   2,474,000

Preferred stock dividend                                (81,000)

Common stock dividend                           <u>     (251,000) </u>

Retained earning for the year 2017             2,142,000

Retained earnings balance, Jan. 1, 2017   <u>     981,000 </u>

Retained earnings bal., Dec. 31, 2017       <u> 3,123,000 </u>

8 0
3 years ago
Krustyburger just paid a dividend of $2 and has a required return of 15%. Which of the following equations represent's today's v
Neko [114]

Answer:

d. $2(1.10)/[0.15-0.10]

Explanation:

The formula to compute the today value of the stock by using the Gordon model is shown below:

= Next year dividend ÷ (Required rate of return - growth rate)

where,

Next year dividend is

= $2 + $2 × 10%

= $2 + 0.2

= $2.2

And, the required rate of return is 15%

Plus the growth rate of return is 10%

So, the today value of the stock is

= $2.2 ÷ (15% - 10%

= $44

8 0
3 years ago
Andrew initially worked with a travel website for few months and then became self-employed by starting a martial arts school, wh
Romashka [77]

Answer:

A. Volatility

Explanation:

Volatility refers to high level of fluctuations with little or no consistency. It also refers to the variation in an activity with no constancy.

In the given case, Andrew keeps on swapping jobs within a short duration of time, and in varied fields of little similarity. This conveys a high degree of volatility in Andrew's work habits since he is unable to stick to one job or a field of job.

The changes in his employment structure reveal a pattern of high level of deviations, fluctuations referred to as Volatility.

5 0
3 years ago
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