Wendy claims that the right mix of hamburgers and other goods is being produced, but that they are not being produced in the least costly way. Economist assess it in the way of allocative efficiency as well as the productive efficiency.
According to Wendy, allocative efficiency is achieved because the right mix of hamburger is produced, but at the same time productive efficiency is not achieved because the production is not utilizing cheapest possible means of producing the goods.
Allocative efficiency occurs when the consumer demand is completely met by the supply. In the other words, businesses are providing the exact supply which the consumers want.
Allocative efficiency occurs from the producers side as well as the consumers side. This happens when the demand is fully met, and production is optimized until marginal costs = marginal revenue . It means that no more profits are made.
Productive efficiency occurs when the businesses focuses on producing a good at the lowest possible cost.
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Answer: E. 18,000
Explanation:
Wesley Corporation has 80,000 shares of common stock authorized. This the total amount of common stock that is available for sale by the company.
Only 50,000 shares of common stock were issued and 12,000 shares of common stock as held as treasury stock.
Then the total number of outstanding shares of Wesley Corporation amounts to 80,000 - 50,000 - 12,000 = 18,000
Answer:
$1,600
Explanation:
Revenue is recognized as and when the <em>control</em> of a good or service is transferred to the customer.
Total Hours = 10 hours × 8 weeks
= 80 hours
Use the <em>rate of pay at the utility office</em> to determine the contribution revenue for Red Wolf Society
Revenue = 80 hours × $20 per hour
= $1,600
