You visit a new town in the summer and see a person dressed as a duck juggling plastic ice cream cones on the street. This pique
1 answer:
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Answer:
Explanation:
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Total Product Cost = ($70,000 + $35,500 + $43,700) ÷ 1,000 = $149.20
Total Period Cost = $30,600 + $29,300 = $59,900
Total Direct Manufacturing Cost = $70,000 + $35,500 + $15,400 = $120,900
Total Indirect Manufacturing Cost = $28,300
Total Manufacturing Cost = $70,000 + $35,500 + $43,700 = $149,200
Total Non Manufacturing Cost = $30,600 + $29,300 = $59,900
Total Conversion Cost = $35,500 + $43,700 = $79,200
Total Prime Cost = $70,000 + $35,500 = $105,500
Total Variable Manufacturing Cost = $70,000 + $35,500 + $15,400 = $120,000
Total Fixed Costs = $25,200 + $18,400 + $28,300 = $71,900
Variable Cost per unit = ($70,000 + $35,500 + $15,400 + $12,200 + $4,100) ÷ 1000 = $137.20
Incremental manufacturing cost = ($70,000 + $35,500 + $15,400) ÷ 1,000 = $120.90
Answer:
Quotas do not affect the equilibrium price, whereas tariffs do not affect the equilibrium quantity.
Explanation:
The import tariff decreases the import quality from AD to CB and increases the price of the good from P to P*. The import restricting effect and consumption effect is same for quotas and tariff. So, the deadweight loss from them is the same from quotas and tariff (HIJ and GEF).
Please observe the image attached.
However, tariff enables the government to increase their revenue from the imports while import quotas precludes such revenue (GEHI). Thus, the cost tariff is lower than the import quotas imposed.
