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
Bad White [126]
3 years ago
7

Compare a market operating at a quantity lower than equilibrium with the same market operating at the equilibrium quantity. Whic

h of the following statements are true?
a.) the economic surplus is greater at the equilibriumquantity
b) teh producer surplus is greater at the equilibrium quantity
c.) its unclear if the consumer surplus is greater or less at the equilibrium quantity
Business
1 answer:
topjm [15]3 years ago
6 0

Answer:

a.) the economic surplus is greater at the equilibrium quantity.

Explanation:

This is correct because at lower production levels a dead weight is created of the potential surplus that is not obtained either for producer nor consumers. At equilibrium, the maximum surplus is achieved and is allocated among producers and consumers

You might be interested in
The following labor standards have been established for a particular product:
swat32

Answer:

$2,430F

Explanation:

The formulae for labor rate variance is given as (Actual rate - Standard rate) × Actual hours worked.

Labor rate variance = (Actual rate - Standard rate) × Actual hours worked

Given that;

Actual rate = Actual total labor cost ÷ Actual hours worked

= $119,880 ÷ 8,100

= $14.8 per hour

Standard rate = $15.10 per hour

Actual hours worked = 8,100

Labor rate variance = ($14.8 - $15.10) × 8,100

Labor rate variance $2,430F

8 0
3 years ago
To record purchases on account, Caleigh’s Company uses the perpetual inventory method and the gross method. On September 11, it
vfiekz [6]

Answer:

The company should credited on the Cash account and the Cash Discount Receipt for the settlement of the inventory with 10 days.

Explanation:

The detailed entry will be:

19th Sep

Dr Account Payable               $40,000

Cr Cash                                  $39,200

Cr Cash Discount Receipt    $800

( to record payable settlement and the receipt of cash discount)

Working note: As the company paying with 10 days, the supplier will allow a 2% discount on it net inventory purchase ( 44,000 - 4,000 = $40,000)

Thus, the discount will be 40,000 x 2% = $800 and Cash repayment will be 40,000 x (1-2%) = $39,200.  

7 0
3 years ago
The Dougherty Furniture Company manufactures tables. In March, the two production departments had budgeted allocation bases of 4
Bezzdna [24]

Answer:

a. Manufacturing overhead rate - Department 100 = $57,500 / 4,000 hours = $14.375 per machine hours

Manufacturing overhead rate - Department 200 = $62,500/8,000 hours = $7.8125 per machine hours

b.  Journal Entries

S/N    Account Titles                         Debit           Credit

1       Inventory - Raw material          $110,000

             Account Payable                                     $110,000

2    Work in process                            $32,500

     Manufacturing overhead              $7,500

             Inventory - Raw materials                         $40,000

3    Work in process                            $52,500

     Manufacturing overhead              $11,000

              Materials control                                       $63,500

4      Manufacturing overhead            $17,250

               Leasehold payable                                    $16,250

               Utilities payable                                          $1,000

5.     WIP Control (14,375*800)            $11,500

                Manufacturing overhead allocation         $11,500

c. Particulars                               Dep 100     Dep 200   Total

Direct materials                           $32,500     $13,500   $46,000

Direct labour                                $52,500     $13,500   $106,000

Manufacturing overhead             $35,750     $18,750   $54,500    

(11,000+7,500+16,250+1,000

+9,000+4,750+3,750+1,250)

Total Cost of Job A                     $120,750   $85,750    $206,500

7 0
3 years ago
Which of the following statements is false?
tangare [24]
I believe the In a limited liability partnership, all partners are limited partners
4 0
3 years ago
Read 2 more answers
The pledging of property as security for payment of a loan without surrendering possession is
raketka [301]
I think it's "<span>hypothecation" but I'm not 100% sure.</span>
6 0
3 years ago
Other questions:
  • 1. Net Worth is equal to assets minus liabilities. Which event will have the greatest impact (positive or negative) on one's net
    13·1 answer
  • Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recen
    13·1 answer
  • A company that uses the perpetual inventory system purchased 500 pallets of industrial soap for 10,000 and paid 750 for the frei
    8·1 answer
  • Garcia Co. sells snowboards. Each snowboard requires direct materials of $119, direct labor of $49, and variable overhead of $64
    8·1 answer
  • Julio is in the 32% tax bracket. He acquired 9,000 shares of stock in Gray Corporation seven years ago at a cost of $20 per shar
    13·1 answer
  • The Bridal Shop bought a dress from a supplier for $105 wholesale and applied a 65% markup to the price. If a 7. 5% sales tax we
    9·1 answer
  • What part of the business plan deals with details about promotion, pricing, and distribution, as well as on how the business wil
    10·1 answer
  • Can I Plss get some help on this
    13·1 answer
  • hui er hires a contractor to remodel her kitchen while she is gone on vacation. in spite of the contractor's promise to do high-
    15·1 answer
  • Geoffrey owns a wedding dress store. If he increases the size of his store and experiences constant returns to scale as a result
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!