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adell [148]
1 year ago
8

Wendy claims that the right mix of hamburgers and other goods is being produced, but that they are not being produced in the lea

st costly way. How would an economist assess wendy's claim?
Business
1 answer:
BARSIC [14]1 year ago
3 0

Wendy claims that the right mix of hamburgers and other goods is being produced, but that they are not being produced in the least costly way. Economist assess it in the way of allocative efficiency as well as the productive efficiency.

According to Wendy, allocative efficiency is achieved because the right mix of hamburger is produced, but at the same time  productive efficiency is not achieved because the production is not utilizing cheapest possible means of producing the goods.

Allocative efficiency occurs when  the consumer demand is completely met by the  supply. In the other words, businesses are providing the exact supply which the  consumers want.

Allocative efficiency occurs from the producers side as well as the consumers side. This happens when the demand is fully met, and production is optimized until marginal costs = marginal revenue . It means that no more profits are made.

Productive efficiency occurs when the businesses focuses on producing a good at the lowest possible cost.

To know more about allocative efficiency here:

brainly.com/question/23879464

#SPJ4

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3 years ago
In computing depreciation, salvage value isa. the fair market value of a plant asset on the date of acquisition.b. subtracted fr
kirill115 [55]

Answer:

c. an estimate of a plant asset's value at the end of its useful life

Explanation:

The salvage value or the residual value is the estimated value of the fixed asset which can be received at the end of its useful life. So, neither it is a fair market value of a plant asset , nor it is deducted from the accumulated depreciation.

The treatment of the residual value under the straight-line method or any other method is shown below:

The depreciation expense under the straight-line method is shown below:

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3 years ago
Ms. Aura is a psychic. The demand for her services is given by Q-2000 10P, where Q is the number of one-hour sessions per year a
PIT_PIT [208]

Answer:

a)

P 175

Q = 250

Profit6,250

b)

P 325

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c)

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Explanation:

It maximize profit at MR = MC

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MC = 150

150 = 200-0.2Q

Q = 50/0.2 = Q = 250

Price:

250 = 2000 - 10P

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<u></u>

<u>Profit: revenue - cost</u>

$175 x 250 session - $150 per session = 6,250

<em>At new functions:</em>

150 = 500-0.4Q

Q = 350 / 0.4 = 875

Price:

875 = 2,500 - 5P

P = (2500-875)/5= 325

<u>Profit</u>

(325 - 150) * 875 = 153,125

<u>If cost changes:</u>

cost: 1000 + 20Q

marginal cost: 20

20 = 500 - 0.4Q

Q = 480 / 0.4 = 1,200

Price:

1,200 = 2500 - 5P

P = 1300/5 = 260

<u>Profit</u>

(260 - 20)Q - 1,000 = 287,000

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It's critical to show BP's graduate recruiters that you percentage BP's five middle values: safety, respect, excellence, one crew, and braveness.

Learn more about Bp's expansion here: brainly.com/question/15043209

#SPJ4

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