The type of externality where market equilibrium quantity produced will be more than socially optimal quantity in absence of governemtn intervention is Negative externality.
Let understand that whenever a production of good or service negatively affect the unrelated third party who is not directly involved in a market transaction, it is said that negative externality exists in the scenario.
A very good example of commonly cited Negative Externalities are air pollution and noise pollution which was caused during production an affects unrelated third party.
If there is presence of government intervention in the production, then, the production of goods or service will be halted.
Therefore, in conclusion, this type of externality is called the Negative Externality.
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Answer:
The answer is b Justifies ignoring the matching principle in certain circumstances.
Explanation:
Answer:
What would the impact of these transactions be during May on
- (1) the balance of cash NO EFFECT, the account balance was not paid in May
- (2) cash-basis net income: NO EFFECT, the account balance was not paid in May
- (3) accrual-basis net income: DECREASE, even though the debt was not paid, the expense had already been recognized, therefore, the accrual-basis net income decreases
Answer:
-$55 U
Explanation:
For computation of activity variance for supplies cost in March first we need to find the budgeted activity of standard supplies cost and actual activity of standard supplies cost is shown below:-
Budgeted activity of standard supplies cost = Supplies cost + Per frame cost × budgeted Activity frames
= $1,730 + $11 × 613
= $1,730 + $6,743
= $8,473
Actual activity of Standard supplies cost = Supplies cost + Per frame cost × Actual activity frames
= $1,730 + $11 × 618
= $1,730 + $6,798
= $8,528
So, activity variance for supplies cost = Budgeted activity of standard supplied cost - Actual activity of Standard supplies cost
= $8,473 - $8,528
= -$55
