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3 years ago

Identical products is a characteristic of a(n) ______ .

1 answer:

4 0

Identical products is a characteristic of a A. perfect competition.
Here are all of the characteristics of perfect competition:
1. a large number of small firms
2. identical products
3. freedom and resource mobility
4. knowledge of prices and technology

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The Akron Slugger Company produces various types of wooden baseball bats. It has calculated the average cost per unit of a produ

Naddika [18.5K]

Answer:

$\arge\boxed{\large\boxed{\$ 117,788}}$

Explanation:

Assume the cost equation to be:

$Cost(x)=Fixed\text{ }costs+Variable\text{ }costs\\\\Cost(x)=A+Bx$

Where $x$ is the number of units (wooden baseball bats) produced.

The average cost per unit of production level is the total cost divided by the number of units produced:

$Average\text{ }cost(x)=Cost(x)/x\\\\Average\text{ }cost(x)=(A+Bx)/x\\$

You are given that the average cost per unit of a production level of 7,700 bats is $14, then:

$14=(A+7,700B)/7,700$

You are also given that the fixed costs are $22,500, thus A = 22,500. Hence, you can substitute the value of A in the previous equation and find B:

$14=(22,500+7,700B)/7,700\\\\14\times 7,700=22,500+7,700B\\\\107,800-22,500=7,700B\\\\85,300/7,700=B\\\\B=11.08$

Now you can complete the cost equation:

$Cost(x)=\$ 22,500+11.08x$

And to predict the total costs for 8,600 bats you must subsitute x with 8,600 in the previous equation:

$Cost(8,600)=\$ 22,500+11.08(8,600)=\$ 117,788$

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3 years ago

1. What are some considerations in choosing a financial institution? Which one do you think would be the most important consider

Greeley [361]

1. In choosing a financial institution you must consider how frequently the bank responds, how long they operate on the weekends, the notary services they are offering, the loans you can get and their financial strength among others. The most important factor to consider would be the institution's financial strength since you must only put your trust in institutions with high strength.

2. One good thing about the U.S. savings bonds is their security and the fact that the investments that you will make in these bonds will not cost you any form of state or local taxes. Cons would include its complexity though as it can get hard for you to identify when the bonds will mature, their interest rates, when to know how to cash them, and their current value.

3. If you put your trust in the so-called "problematic" financial institutions, you are basically gambling your money away. First of all, as mentioned earlier, you must only put your trust in banks with a healthy financial strength since problematic ones will be unreliable and unsafe. Trusting them can lead to your money being stolen or you can also be bombarded with additional fees.

4. The state and local government have laws that will protect the consumer from unfair practices or frauds. As an individual, you can add more security to protect yourself and your money. This protection includes setting up alerts on your bank account, adding a two-step verification on your emails so no one can access it easily, as well as avoiding calling lists.

5. One major advantage is that the Federal Deposit Insurance Corporation has a $100,000 guarantee per institution so your investment won't be totally gone during unfortunate circumstances. The disadvantage, on the other hand, is that the interest rates on federally-insured accounts are below the inflation rate so you can expect a decrease in the value of your money over time.

3 0

2 years ago

Tony Matheson plans to graduate from college in May 2018 after spending four years earning a degree in sports and recreation man

valentinak56 [21]

Answer:

1. Proprietorship, Partnership and Corporation (details below)

2. Refer the answer with details below

3. Refer the answer with details below

Explanation:

1. Three primary forms of business organizations

Proprietorship

Having a single owner and hence all liabilities and assets belong to the proprietor and he is personally liable, lower tax

Partnership

Partnership of two or more, and therefore profits and liabilities are distributed and they are personally liable, lower tax than corporation

Corporation

Separate legal identity and hence owners are not personally liable, limited liability with stringent controls and regulated, higher tax rates.

Given the circumstances of the Great Adventures i.e. safety and sustainability, corporation would be recommended.

2. Activities

A) Financing Activities may include common stock, borrowings, and repayments.

B) Investing Activities may include purchase and sell of assets like land, building and machinery and investments

C) Operating Activities may include providing goods and services to the customers ans related operational cost to run the day to day business.

3. Specific Account Names

Assets may include Cash, Merchandise Inventory, Accounts Receivable, Property, Plant and Equipment

Liabilities may include Accounts Payable, Bank Overdraft, Notes Payable, accruals, loans.

Stockholders' equity may include common stock, retained earnings

Revenue may include Service revenue, other income

Expenses may include Salaries, Rent, Insurance advertising

8 0

2 years ago

The writing requirement under the Statute of Frauds means that an agreement must simply be evidenced by some type of writing, wr

Misha Larkins [42]

Answer:

It is True. the option (a) is correct

Explanation:

Solution

Given that:

The statue of fraud can be refereed to as the requirements for specific kind of contract that should be in writing and signed by the parties involved with sufficient evidence. the main idea is to stop fraud and other types of injury.

The vital aspect of statute of frauds include the following:

It applies to particular types of contract and they are six classification It include contracts for an interest for the sale of land, contracts that need to be performed in more than a year, contracts about someone else's debt presumed by other, contract in which marriage is a deliberation, contracts for good sold value more than $500 and promises by executors or administrators.

The motive of the contract is that it formalize the concurrence between the parties so that it can be thought seriously.

The statute of frauds avert fraudulent conduct of one party to another.

6 0

3 years ago

Having reached consensus on a policy for increasing child safety in the homes of gun owners, stefano's small group decided to ha

snow_lady [41]

The method that Stefano’s group used in presenting its recommendations is A SYMPOSIUM. A symposium is basically a public presentation in which a number of people present prepared speeches on different aspects of the same topic; this was exactly what Stefano’s group decided to do in presenting their policy for increasing child safety in the homes of gun owners.

4 0

2 years ago