All categories

3 years ago

What condition is being met when goods are being produced and sold at the lowest possible average cost?

1 answer:

6 0

The condition that is being met is PRODUCTIVE EFFICIENCY. Productive efficiency refers to a situation in which production is carried out without waste. In this situation, when the average cost of production is reduce to the barest minimum, the economy will be operating on the production possibility frontier.

You might be interested in

The principal-agent problem arises when ________.

Paha777 [63]

Answer:

a. the owners of the firm also manage the firm

Explanation:

In domain of supply chain management and economics principal–agent problem can be regarded as one that occur when single person or an entity stand in the position of making decisions or in position of taking actions on behalf of another person/ entity Instance of this is real-life example where the way that companies are been owned and been operated. The owners of the company i.e "principal" of the company will be the one to elect a board of directors.

It should be noted that the principal-agent problem arises when the owners of the firm also manage the firm

3 0

3 years ago

How do you redeem a lottery tickets

DENIUS [597]

Explanation:

you can redeem a winning ticket from any type of lottery game to an authorized retailer when your prize is less than 600$

hope I helped

4 0

2 years ago

You are given the following total utilities of apples and mineral water obtained by

andrezito [222]

Answer:

2 apples and 6 bottles of water

Explanation:

since Bervin earns K22, her consumption possibilities frontier is:

apple water total utils obtained

4 units 1 unit 90 + 20 = 110 utils

3 units 3 units 75 + 54 = 129 utils

2 units 6 units 55 + 90 = 145 utils

1 unit 8 units 30 + 98* = 128 utils

0 units 11 units 0 + 98* = 98 utils

The optimal combination of apples and bottles of water is 2 apples and 6 bottles of water because that combination yields the most utils.

*Since the table only states the utils obtained until the 7th unit, we must assume that any additional unit consumed will provide 0 utils.

7 0

3 years ago

Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method.

Nadya [2.5K]

Answer:

Purchase 12000 debit

Accounts Payable 12000 credit

--to record purchase--

Accounts Payable 1200 debit

Returns&Allowance 1200 credit

--to record returned goods--

Purchase 16000 debit

Accounts Payable 16000 credit

--to record purchase--

Purchase 20000 debit

Accounts Payable 20000 credit

--to record purchase--

Account Payable 16,000 debit

Purchase Discount 160 credit

Cash 15,840 credit

-to record payment within--

SECOND METHOD:

Purchase 11,760 debit

Accounts Payable 11,760 credit

--to record purchase--

Accounts Payable 1,176 debit

Returns&Allowance 1,176 credit

--to record returned goods--

Purchase 15,840 debit

Accounts Payable 15,840 credit

--to record purchase--

Purchase 19,600 debit

Accounts Payable 19,600 credit

--to record purchase--

Account Payable 16,000 debit

Cash 15,840 credit

-to record payment within--

interst expense 216 debit

account payable 216 credit

--to record interest incurred--

Explanation:

As we use periodic system we calculate the inventory and COGS at the end of the period so we use purchase and returns accounts rather than adjusting inventories in every transactions.

In the second method we use itnerest expense when the discount is loss.

interest incurred for the period:

(12,000 - 1,200) x 2% = 216

The secodn purchase at the end of the monthcan be paid within discount period therefore, we do not recognize interest expense yet.

3 0

3 years ago

Blue Spruce Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the busi

dlinn [17]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $26,100

To Common stock $26,100

(Being Cash in exchange of common stock is recorded)

2. No Journal Entry is required

3. Office rent expenses Dr, $1,305

To cash $1,305

(Being is office rent is recorded)

4. Accounts receivable Dr, $1,885

To Accounts payable $1,885

(Being architectural supplies is recorded)

5. Accounts receivable Dr, $2,755

To Service revenue $2,755

(Being service revenue is recorded)

6. Cash Dr, $1,015

To Unearned revenue $1,015

(Being cash is recorded)

7. Cash Dr, $4,060

To Service revenue $4,060

(Being cash is recorded)

8. Salary expenses Dr, $2,176

To Cash $2,176

(Being salary expenses is recorded)

9.Accounts payable Dr, $435

To Cash $435

(Being accounts payable is recorded)

3 0

3 years ago

What condition is being met when goods are being produced and sold at the lowest possible average cost​?

What condition is being met when goods are being produced and sold at the lowest possible average cost?