1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anestetic [448]
3 years ago
15

Suppose that last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively. Because of

strong demand this year, the equilibrium price and the quantity of good X are $12 and 7 million pounds, respectively. Assuming that the supply curve of good X is linear, producer surplus:
Business
1 answer:
grandymaker [24]3 years ago
5 0

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

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

= \frac{1}{2}\ \times\ 5\ \times\ 10

= $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

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

= \frac{1}{2}\ \times\ 7\ \times\ 12

= $42

You might be interested in
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following ann
alekssr [168]

Answer:

Pecan Theatre Inc.

Annual Dividends:

Year       Amount                   Cumulative               Common Stock

                                   Declared             Arrears

20Y1,      $64,000     $64,000              $96,000      $0

Per share dividends    $1.60                                      $0

20Y2,   $128,000      $128,000           $128,000      $0

Per share dividends   $3.20                                      $0

20Y3,  $288,000      $288,000          $0                  $0

per share dividends   $7.20                                      $0

20Y4,  $368,000     $160,000           $0                   $208,000

Per share dividends  $4.00                                        $2.08

           

20Y5,  $448,000    $160,000           $0                    $288,000

Per share dividends   $4.00                                      $2.88

20Y6, $576,000   $160,000            $0                     $416,000

Per share dividends   $4.00                                      $4.16

Explanation:

a) Data and Calculations:

Outstanding common stock = 100,000 shares at $10 par

Outstanding 4% cumulative preferred stock  = 40,000 at $10 par

Annual preferred stock dividend = 4% * 40,000 * $100

= $160,000

Annual Dividends:

Year       Amount                   Cumulative               Common Stock

                                   Declared             Arrears

20Y1,      $64,000     $64,000              $96,000      $0

Per share dividends    $1.60 ($64,000/40,000)       $0

20Y2,   $128,000      $128,000           $128,000      $0

Per share dividends   $3.20 ($128,000/40,000)     $0

20Y3,  $288,000      $288,000          $0                  $0

per share dividends   $7.20 ($288,000/40,000)     $0

20Y4,  $368,000     $160,000           $0                   $208,000

Per share dividends  $4.00 ($160,000/40,000)       $2.08 ($208,000/100,000)

           

20Y5,  $448,000    $160,000           $0                    $288,000

Per share dividends   $4.00 ($160,000/40,000)      $2.88 ($288,000/100,000)

20Y6, $576,000   $160,000            $0                     $416,000

Per share dividends   $4.00 ($160,000/40,000)      $4.16 ($416,000/100,000)

6 0
3 years ago
​Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows. Refer to the following information r
Lera25 [3.4K]

Answer:

Collection from Customers =$487,000

Explanation:

Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance

=97000+$519,000-$65,000

=$487,000

7 0
3 years ago
On the end-of-period spreadsheet, Supplies has a balance of $2,000 in the Unadjusted Trial Balance Debit column and an adjustmen
Mademuasel [1]

Answer:

$1,500

Explanation:

On the end-of-period spreadsheet, the credit adjustment of $500 is made in the Debit balance of Supplies inventory, which will net off the values and resulted Supplies Inventory value will be $1,500 at the end of the year and it will be reported on the financial statements. $1,500 should be appeared for supplies in the adjusted Trial Balance column.

7 0
3 years ago
SOMEONE PLEASE HELP ME ASAP PLEASE!!!!!​
Umnica [9.8K]

Answer:

a

Explanation:

bc interest rates have a negative correlation their for they will shift off

8 0
3 years ago
Excom sells radios and each unit carries a two-year replacement warranty. Typically, 5% of the radios sold need to be replaced c
Leona [35]

Answer:

The amount in September would Excom debit Product Warranty Expense is $805

Explanation:

According to the given data In order to calculate the amount in September would Excom debit Product Warranty Expense we would have to make the following calculation:

Product warranty expense = 700 radios * 5% * cost per radio $23

Product warranty expense =35*$23

Product warranty expense =$805

The amount in September would Excom debit Product Warranty Expense is $805

7 0
3 years ago
Other questions:
  • Dora’s company manufactures chocolate. They started off with manufacturing all kinds of chocolate, and now they want to expand i
    13·1 answer
  • Consider a four-year project with the following information: initial fixed asset investment = $595,000; straight-line depreciati
    9·1 answer
  • A high-production operation was studied during an 80-hr period. During that time, a total of seven equipment breakdowns occurred
    11·1 answer
  • Critical analysis Q16 Suppose that the Federal Reserve purchases a bond for $100,000 from Reggie Rich, who deposits the proceeds
    7·1 answer
  • Vladimir is a manager at an automotive plant in the United States. His company has realized it needs to think globally since the
    5·1 answer
  • A favorable direct materials quantity variance indicates which of the following?A) The actual cost of direct materials was less
    8·1 answer
  • Expansionary fiscal policy relies on changes in tax collections and government spending to achieve a non inflationary level of e
    8·1 answer
  • Types of bonds
    5·1 answer
  • If anyone needs help on homework (preferably middle school level but we can work something out) I will accept cash app and step
    12·1 answer
  • People are living paycheck to paycheck why is that a problem
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!