Answer:
see below
Explanation:
A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.
Suppliers are business people whose main objective is to make profits. Higher prices give higher margins. Suppliers make higher profits when prices are high. The possibility of making higher profits motivates suppliers to increase supplies to the market. On the other hand, low prices may result in losses. When prices are low, supplies will shy away from the market to avoid making losses.
Answer:
A. the iso-quant line is tangent to the iso-cost line.
Explanation:
Cost minimization refers to the decrease in level of cost of production for certain specified level of production.
Iso quant line represents the labor and capital combinations keeping the total cost same. The least combination represents the tangent to isoquant, basically representing the idle choice of labor and capital.
In this manner the company chooses the idle way of cost minimization.
Answer:
a. $352,200
b. $372,100
Explanation:
The cost of goods manufactured
<em>Consider only the manufacturing costs</em>
Cost of goods manufactured = $122,200 + $69,200 + $17,600 + $113,100 + $34,000 + $13,300 - $17,200
=$352,200
Cost of goods sold
<em>Add Cost of goods manufactured to the net of Finished inventory balance</em>
Cost of goods sold = $47,900 $68,800 + $352,200 - $47,900
= $372,100
Answer:
$18,000
Explanation:
Given data for Taylor Company;
Salaries payable at the beginning of 2015 (end of 2014) = $18,000
Salary expense during the year (2015) = $50,000
Salaries paid during the year = $50,000
Salary payable at end of year (2015) = ?
Let the salary payable at end of year= S
Using the formula
Salaries payable at the beginning of the year + Salary expense during the year - Salaries paid = Salary payable at end of year
$18,000 + $50,000 - $50,000 =S
S = $18,000
Salaries payable as at December 31, 2015 is $18,000.
In order to increase the productivity business should invest more capital. Investing more capital means that there will be more productive assets that can be used.
