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DENIUS [597]
3 years ago
12

Assume the world market for oil is competitive and that the marginal cost of producing​ (extracting and bringing to​ market) ano

ther barrel of oil is ​$81.40 and the marginal benefit is ​$79.20. If one more barrel of oil is produced and​ consumed, how will economic surplus​ change?
Business
1 answer:
xz_007 [3.2K]3 years ago
7 0

Answer:

The economic surplus will decrease by $2.20

Explanation:

$81.40 and $79.20 are <em>marginal </em>cost and benefit, which are the changes to total costs and total benefits due to producing and consuming one additional barrel of oil.

They can be used to calculate <em>change </em>to economic surplus, which is the change to the net economic value received by society, which is given by:

marginal benefit - marginal cost = $79.20 - $81.40 = - $2.20

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The employees of an information technology company complain that the company has been spending a lot of funds in wasteful activi
Oksanka [162]

Options:

A. Public prosecutor

B. Government Accountant

C. Internal auditor

D. Public accountant

Answer: C. Internal Auditor.

Explanation: An Auditor is a professional whose main responsibility is to evaluate processes or systems in order to determine and expose areas where losses or failures are taking place in order to mitigate or correct these losses and failures. There are two types of Auditors, which includes INTERNAL AUDITOR (An Auditor employed by a firm to continuously audit its processes,accounts or system) and EXTERNAL AUDITOR(An Auditor contracted from external bodies in order to audit a firm).

4 0
3 years ago
Help me Please D,B!!!!
Lunna [17]
It is c ..........................................................................................................................................................................
5 0
3 years ago
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving s
vesna_86 [32]

Answer:

2016

a. Dr Account receivable $1,353,000

Cr Sales revenue $1,353,000

Dr Cost of goods sold $979,100

Cr Inventory $979,100

b Dr Allowance for doubtful accounts $20,900

Cr Account receivable $20,900

c Dr Cash $669,200

Cr Account receivable $669,200

d Dr Bad debt expense $33,495

Cr Allowance for doubtful accounts $33,495

2017

e Dr Account receivable $1,544,700

Cr Sales revenue $1,544,700

Dr Cost of goods sold $1,318,300

Cr Inventory $1,318,300

f Dr Allowance for doubtful accounts $27,000

Cr Account receivable $27,000

Dr Cash $1,194,200

Cr Account receivable $1,194,200

h Dr Bad debt expense $33,147

Cr Allowance for doubtful accounts $33,147

Explanation:

Preparation of the journal entries to record Liang's 2016 and 2017 summarized transactions and its year-end adjustments to record bad debts expense

2016

a. Dr Account receivable $1,353,000

Cr Sales revenue $1,353,000

Dr Cost of goods sold $979,100

Cr Inventory $979,100

b Dr Allowance for doubtful accounts $20,900

Cr Account receivable $20,900

c Dr Cash $669,200

Cr Account receivable $669,200

d Dr Bad debt expense $33,495

Cr Allowance for doubtful accounts $33,495

($1,353,000-$669,200-$20,900=$662,900)

($662,900*1.90%+$20,900)

($12,595+$20,900=$33,495)

2017

e Dr Account receivable $1,544,700

Cr Sales revenue $1,544,700

Dr Cost of goods sold $1,318,300

Cr Inventory $1,318,300

f Dr Allowance for doubtful accounts $27,000

Cr Account receivable $27,000

Dr Cash $1,194,200

Cr Account receivable $1,194,200

h Dr Bad debt expense $33,147

Cr Allowance for doubtful accounts $33,147

($1,544,700+$662,900-$1,194,200-$27,000=$986,400)

($986,400*1.90%=$18,742)

($18,742+$27,000-$12,595=$33,147)

5 0
2 years ago
Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters
svet-max [94.6K]

Answer:

The production plan for Q3 is 208,000 units of supermix.

July 64,000

August 70,000

September 74,000

The Raw materials requirement for Q3 is 218 cc of solvent H300

July 23,000

August 111,000

September 84,000

The detailed presentation is in the attached document

7 0
3 years ago
The Justice Department refused to approve a merger between office supplier Staples and office supplier Office Depot, a merger th
artcher [175]

Answer:

The correct answer is A) A market share of over 50% from the combined companies

Explanation:

The Clayton Act of 1914 regulates acquisitions and mergers in the United States. This is the legal source that the Justice Deparment would use to approve or disapprove the merger described in the question. It explicitly forbids mergers that result in over 50% of market share, because it consideres a higher percentage than that (a market share from 50% to 99%) to configurate a monopoly.

The merger in the question would result in a 70% market share, way higher than the legal limit, hence it would be denied by the DOJ.

3 0
3 years ago
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