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4 years ago

Why do markets need both adequate competition and adequate information?

1 answer:

8 0

<span>Let's think about you want to build your home. You know 3 constructors who can build your home as you want to. But the price rate vary to each constructors. so made a tender and call these 3 constructors to join. At last they present their rate to build your building. Here is the question that who would you choose? You must choose that constructor who present the least rate for that tender. And you select the ONE. so you take a competition on three of them. that's why market need adequate competition. So you done it by lower price. It is a important terms that highly executed in business world. Think you want to buy something from another company but you don't know about that product. It means you are ignoring the fact that your money is under a good deal or bad. you have no interest about your money. but you are doing business for the money. so that you need that adequate information for that product. nothing else...</span>

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Brace Finstein annual salary as an accounting clerk is $32,500. What is his weekly salary?

slavikrds [6]

Since there are 52 weeks in a year, and you take his annual salary of $32,500 and divide it by 52, you get a weekly salary of $625.

3 0

3 years ago

Read 2 more answers

Maple Company uses a job costing system. Maple Company's schedule of cost of goods manufactured showed the following amounts fo

Cerrena [4.2K]

Answer:

Allocated overhead= $43,180

Explanation:

Giving the following information:

Cost of direct materials used $42,600

Cost of goods manufactured $124,200

Cost of direct labor ($30 per hour)= $76,200

Manufacturing overhead cost is allocated at the rate of $17 per direct labor hour.

Allocated overhead= predetermined overhead rate* actual allocation base

Allocated overhead= 17* (76200/30)= $43,180

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4 years ago

Max Company produces electronic gadgets using labor and capital. If Max increases labor and decreases capital to produce the sam

svetoff [14.1K]

Based on the information given, it can be deduced that the marginal product of labor will decrease and the marginal product of capital will increase.

From the information given, it was stated that Max Company produces electronic gadgets using labor and capital and that he increases labor and decreases capital in order to produce the same quantity of gadgets.

Due to this, according to the law of diminishing marginal productivity, the marginal product of labor will reduce and that of capital will rise.

Learn more about labor on:

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3 years ago

alexander industries is considering purchasing an insurance policy for its new office building in st. louis, missouri. the polic

Bingel [31]

The best expected decision is d2.

The equation for the expected value for the lottery will be 200000 - 20000P

<h3>How to calculate the decision?</h3>

The expected value for d1 will be:

= 10000(0.96) + 10000(0.03) + 10000(0.01)

= 10000

The expected value for d2 will be:

= 0(0.96) + 100000 (0.03) + 200000 (0.01)

= 5000

Therefore, the best expected decision is d2.

b. The best outcome is 0 and the worst is given as -200000. Therefore, the expected value for the lottery will be:

= P + 200000(1 - P)

= 200000 - 20000P

Therefore, the best expected decision is d2 and the equation for the expected value for the lottery will be 200000 - 20000P.

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Alexander Industries is considering purchasing an insurance policy for it's new office building in St. Louis, Mo. The policy has an annual cost of $10,000. If Alexander Industries doesn't purchase the insurance and minor fire damage occurs, a cost of $100,000 is anticipated: the cost if a major fire or total destruction occurs is $200,000. The cost, including state of nature possibilities are as follows:

Damage

decision alternative none s1 minor s2 major s3

purchase insurance d1 $10,000 10,000 10,000

Do not purchase insurance d2 0 100,000 200,000

probabilities .96 .03 .01

a. using the expected values approach, what decision do you reccommend?

b. What lottery would you use to access utilities?

5 0

2 years ago

It’s Friday night. You already have a ticket to a concert, which cost you $30. A friend invites you to go out for a game of pain

ololo11 [35]

Answer:

$30

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

Here, one has the option of either paintballing or attending a concert. If one goes paintballing , the opportunity to attend the concert is forgone. Thus, the opportunity cost is the cost of the concert tickets- $30.

I hope my answer helps you

7 0

3 years ago