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3 years ago

What are the scopes of microeconomy

Business

1 answer:

MAVERICK [17]3 years ago

7 0

MICROeconomics refers to the effects and purchasing decisions of individuals.

This differs from MACROeconomics which focuses on large scale views of things that affect the economy as a whole like inflation and interest rates.

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Consider a second-price, sealed-bid auction with a seller who has one unit of the object which he values at s and two buyers 1,

dybincka [34]

Answer and Explanation:

Given that this is a second price bid auction whereby the second highest bid is the price that the highest bidder pays for the item up for auction sale, so that b1>b2 then b1 gets item for the price of b2.

Truthfulness of true value is the dominant strategy here which means each player should aim to be truthful with their bid regarding their true value regardless of what other bidders are bidding. Therefore truthfulness of value is the optimal strategy with the best payoff for bidders

5 0

3 years ago

A plant asset was purchased on January 1 for $140000 with an estimated salvage value of $20000 at the end of its useful life. Th

alukav5142 [94]

Answer:

useful life= 12 years

Explanation:

Giving the following information:

Purchase price= $140,000

Salvage value= $20,000

Annual depreciation= $10,000

<u>To calculate the useful life, we need to use the straight-line method formula:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

10,000= (140,00 - 20,000) / useful life

10,000useful life = 120,000

useful life= 120,000 / 10,000

useful life= 12 years

4 0

3 years ago

Addison Co. budgets production of 2,790 units during the second quarter. Other information is as follows: Direct labor Each fini

Doss [256]

Answer and Explanation:

1. The preparation of direct labor budget is given below:-

Direct labor budget

Units to be produced 2,790

Hours required per unit 5

Total labor hours needed 13,950

(2,790 × 5)

Labor rate per hour $10

Direct labor budget $139,500

(13,950 × $10)

2. The preparation of factory overhead budget is given below:-

Total labor hours needed 13,950

Variable overhead rate per hour $12

Budgeted variable overheads $167,400

(13,950 × $12)

Budgeted Fixed overheads $580,000

Budgeted total overheads $747,400

8 0

3 years ago

It is illegal to modify your __________ system or install a bypass device to increase the noise level of your vehicle.

balandron [24]

Exhaust. <span> Your exhaust system should not have leaks that increase the noise level. Leaks in the exhaust system are dangerous because they expose occupants to carbon monoxide and other toxic gases.</span>

6 0

3 years ago

San Francisco Corporation uses two materials in the production of its product. The materials, X and Y, have the following standa

levacccp [35]

Answer:

(1) Material usage variance for X: 1,500 (Favorable)

(2) Material usage variance for Y: -19,500 (Adverse)

Explanation:

Material usage variance for X:

Standard Mix for actual Yield:

= (Standard mix of material X ÷ Yield) × Yield actual mix

= (3,500 ÷ 4,000) × 36,000

= 31,500

Material Usage Variance:

= (Standard Mix for actual Yield- Actual Mix) × Standard unit price

= (31,500-30,000) × $1

= 1,500 (Favorable)

Material usage variance for Y:

Standard Mix for actual Yield:

= (Standard mix of material Y ÷ Yield) × Yield actual mix

= (1,500 ÷ 4,000) × 36,000

= 13,500

Material Usage Variance:

= (Standard Mix for actual Yield- Actual Mix) × Standard unit price

= (13,500 - 20,000) × $3

= -19,500 (Adverse)

Total = (19,500) + 1,500

= (18,000) [Adverse]

4 0

3 years ago

What are the scopes of microeconomy​

What are the scopes of microeconomy