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3 years ago

In perfect competition, each additional unit of output that a firm sells will yield a marginal revenue that is:

Business

1 answer:

il63 [147K]3 years ago

4 0

Answer:

The correct answer is equal to price.

Explanation:

A perfectly competitive firm is a price taker. This is because of the large number of firms, no single firm is able to influence the price. So each firm faces a horizontal demand curve. This horizontal line shows demand, marginal revenue, and average revenue.

The price level is determined at the point where the marginal cost is equal to price. The marginal revenue is always equal to price because the price is fixed at a point, each output level is supplied at the same price.

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Multiple Production Department Factory Overhead Rates The total factory overhead for Bardot Marine Company is budgeted for the y

MrMuchimi

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The total factory overhead for Bardot Marine Company is budgeted for the year at $664,125, divided into two departments:

Fabrication, $406,875

Assembly, $257,250.

The speedboats require three direct labor hours in Fabrication and three direct labor hours in Assembly.

The bass boats require two direct labor hours in Fabrication and three direct labor hours in Assembly.

Each product is budgeted for 3,500 units of production for the year.

A) Budgeted direct labor hours:

Fabrication:

Speedboats= 3500*3= 10500 hours

Bass boats= 3500*2= 7000 hours

Total= 17,500

Assembly:

Speedboats= 3500*3= 10500 hours

Bass boats= 3500*3= 10500 hours

Total= 21,000 hours

B) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Fabrication= 406875/17500= $23.25 per direct labor hour

Assembly= 257250/21000= $12.25

C) Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH Fabrication= 23.25*5 + 12.25*6= $189.75 per unit

3 0

3 years ago

PLEASE HELP ME!!!!!!!! Shannon spent time removing the background of an image in her PowerPoint presentation. She then saved the

Aleksandr-060686 [28]

B I think not 100% sure sorry

5 0

3 years ago

The City of Southern Pines maintains its books so as to prepare fund accounting statements and records worksheet adjustments in

Andrei [34K]

Answer: The answer has been attached

Explanation:

The journal is a book in accounting that is used to record the transactions that affect a business. It should be noted that the double entry method of bookkeeping is utilised while recording in a journal.

The journal has been attached in the following way:

1. The journal was used to record the balance sheet particulars.

2. To record the transaction in the internal service fund that is external to the government.

3. To record the internal service fund in the government-wide statements as a part of governmental activities.

It should also be noted that the net income of $84,000 was to be shared as one-third to general government, one-third to public safety, and one-third to public works. This means they'll all receive ($84,000/3) = $28,000 each.

Further explanation can be found in the attached file.

3 0

3 years ago

Suppose that a simple society has an economy with only one resource, labor. Labor can be used to produce only two commodities ax

max2010maxim [7]

Answer:

a, The PPF intersect the Y-axis at 1000 units of luxury goods

The PPF intersect the X-axis at 500 units of necessity good

It means that when the society produces zero units of necessity, it can produce 1000 units of luxury goods and if they use all resources to produce necessity, they can produce 500 units only

b. The economy can produce at a point inside the curve IF (1) There is underutilized of the available resources. (2) There is inefficiency in the use of resources

c. I will want to produce more necessity than luxury. The decision on which point the society will want to be depend on the type of economic system being practiced by my society, if it is free market, the price system will determine it and for a socialist system, the government decides.

d. If I am a dictator, I will make decrees as to the economic direction I want for the society and where the product distribution is left to the free market, the price system decides.

Explanation:

The production possibility frontier is a graph that shows the trade-off between two commodities which a country can be assumed to produce. An economy can operate on the PPF in which case it is using its resources to the fullest. It can operate inside the curve which means under-utilization of resources or inefficiency in resources utilization. A country cannot operate outside the curve except there is technological progress or economic growth.

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4 0

3 years ago

All economic questions and problems arise from ____.

Fiesta28 [93]

All economic questions and problems arise from <span>C. scarcity. scarcity is defined as the lack of resources and is the opposite of abundance. If scarcity such as famine is experienced by a country or nation, there arise questions why such state happened</span>

3 0

3 years ago

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