Answer:
1. Excludability
2. Rivalry in Consumption
3. 4 Different Types of Goods
4. Private Goods
Explanation:
Overton Enterprises is converting to an activity-based costing system. It wishes to depict the various activities in its manufac
1 answer:
You might be interested in
Answer:
option (A) $11,000
Explanation:
Given;
Miles drove in first year = 15,000
Miles drove in second year = 22,000
Cost of the truck = $175,000
Residual value = $25,000
Estimated life = 10 years or 300,000 miles
Now,
using the activity based method
Rate of depreciation per mile driven =
or
Rate of depreciation per mile driven =
or
= $0.5 per mile
also,
Number of miles driven in second year = 22,000 miles
Hence,
Depreciation for the second year
= Depreciation rate × Number of miles driven in second year
= 0.5 × 22,000
= $11,000
Hence,
The correct answer is option (A) $11,000
Answer: Coefficient of elasticity of supply is 0.75.
Explanation:
Price elasticity of supply measures the responsiveness of quantity supplied to a change in the price of the good. It can be measured using the percentage point method,
Therefore, coefficient of elasticity of supply is 0.75. Since it is less than 1 we can infer that supply for this good is relatively inelastic.