<span>The product price and the average total cost determines the profit. If a company is charging a higher price than the per-unit cost, then they are earning a profit on that item. If they increase the price with everything else remaining constant, their profit increases. The opposite happens when they lower the price, all else held constant.</span>
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Answer:
total cost of farming = $380
so correct option is d. $380
Explanation:
given data
cost of seeds = $130
Farmer Ziva charges = $25
time = 10 hours
solution
so total cost of farming is calculated as
total cost of farming = cost of seeds + opportunity cost
so put value
total cost of farming = $130 + ( $25 × 10 )
total cost of farming = 130 + ( 250 )
total cost of farming = $380
so correct option is d. $380
Answer:
Explanation:
Last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively.
The producer surplus is the difference between the minimum price that a producer is willing to accept and the price it actually gets. It can be found by calculating the area between the supply curve and the market price.
The producer surplus
= 
= 
= 
= $25
Because of strong demand this year, the equilibrium price and the quantity of good X are $12 and 7 million pounds, respectively.
The producer surplus
=
=
= 
= $42
Answer: $7,740
Explanation:
Given, At December 31, Accounts receivable = $238,000
Allowance for uncollectible accounts = 3% of (accounts receivable)
∴ Allowance for uncollectible accounts = 3% of ($238,000 )
=$(0.03 ×238,000) [3% = 0.03]
= $ (7140)
= $7,140
Allowance for uncollectible accounts (credit) before any adjustments= $600
The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts + $600
= $7,140 + $600
= $7,740
Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>
