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Stella [2.4K]
3 years ago
11

the loss of producer surplus associated with some sellers dropping out of the market as a result of the tax is

Business
1 answer:
san4es73 [151]3 years ago
6 0

Answer:

$60

Explanation:

According to information on your question. We are to note that an absence or reduction of suppliers could lead to lower supply.

As in this case, the producer supply loss of $60 was incurred as some sellers dropped out of the market as a result of the tax.

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Two​ firms, A and B​, must each choose either a low price or a high price for their product. The payoff matrix shows the profit
ahrayia [7]

Answer: 1. A.Both firms will choose the low price.

2. B. Both firms would choose the high price.

Explanation:

1. If the firms cannot cooperate with each other and must choose simultaneously, both firms will choose the low price.

This is because at the low price both of them are at the highest profit they can make when they are not cooperating. For instance, if Firm B chooses Low Price and Firm A chooses High Price, Firm A will make $3 million while Firm be will make $8 million.

If Firm B decides to have a high price then firm A will take the low price and make $8 million in profit while Firm B makes $4 million. If they are not working together, they will both have to take the low price to make the most profit.

2. If the firms could cooperate with each​ other, both firms would choose the high price.

The is because they will be making more than competing and getting a lower profit. Should they cooperate they will each get $7 million in profit because they will pick the option they can both make the highest profit at. The is better than competing and making only $5 and $6 million respectively.

If you need any clarification do comment. Cheers.

4 0
2 years ago
A company makes tools, such as hammer and tape measures. One of their primary raw materials is steel and if they run out of stee
Sedbober [7]

Answer:

D. continuous review system

Explanation:

In the context of manufacturing it seems that the system being described would be a continuous review system. Like mentioned in the question this is a system that automatically adjusts the stock level in real time when a product moves in or out of stock, and automatically triggers an order for more stock as soon as the stock level hits a low quantity point is hit.

3 0
3 years ago
Thompson Company incurred research and development costs of $100,000 and legal fees of $30,000 to acquire a patent. The patent h
wariber [46]

Answer:

b. 3,000

Explanation:

The computation of the  Patent Amortization Expense in the first year is shown below:

= Legal fees to acquire a patent ÷ estimated useful life

= $30,000 ÷ 10 years

= $3,000

Only the legal expense would be amortized in a year.

And, the lesser period of legal life i.e 20 years and useful life i.e 10 years would be taken in the computation part. So, the lesser time period would be considered i.e useful life of 10 years

7 0
3 years ago
Read 2 more answers
The factors that need to be determined to compute depreciation are an asset's: a.Cost, residual value, and physical life. b.Cost
kumpel [21]

Answer:

d.Cost, residual value, and service life

Explanation:

The depreciation of an asset is the systematic allocation of cost for the use of the asset over its useful life.

Depreciation is usually computed using the formula below

Depreciation  =  (cost - salvage value)/useful life

The difference between the cost and salvage value is the depreciation base of the asset over its entire useful life.

As such, the right option is d.Cost, residual value, and service life

4 0
2 years ago
Meadow Company produces hand tools. A sales budget for the next four months is as follows: March 10,800 units, April 13,300, May
elixir [45]

Answer:

Production= 11,300 units

Explanation:

Giving the following information:

Sales:

March 10,800 units

April 13,300

Meadow Company’s ending finished goods inventory policy is 20% of the following month’s sales.

March 1 beginning inventory is projected to be 2,160 units.

<u>To calculate the production for March, we need to use the following formula</u>:

Production= sales + desired ending inventory - beginning inventory

Production= 10,800 + (13,300*0.2) - 2,160

Production= 11,300 units

8 0
2 years ago
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