Answer:
A. Two alternatives
Explanation:Alternative one : not to do anything, and run the risk of losing entire crop worth of $75,000.
Alternative two : to insulate his crop by spraying water at cost of $20,000 and succeed in saving the crop with five possible outcomes as given in attached file.
Net result or expected loss for atternative one is = .40*0 + .6*75000 = $45,000
Net result or expected loss for alternative two is = Cost-20000 + expected loss = 20000 + .3*0 +.15*5000 + .10*1000 +.15*15000 + .30*20000 = 20000+10000 = $30,000
B. Expected loss is less in case of alternative two, therefore farmer is advised to go for spraying water.
C. Highest cost for insulating the crop is (45000 - 10000) = $35,000 (Differnce between the expected loss under the two options)
D. In case the probability of freezing is at the lowest level of .40, then loss under alternative one is = .4*75000 =$30,000 . With higher levels of probabilities the expected loss is bound to be more. Therefore the decision to go for spraying water holds good.
E. As explained earlier as long as cost of insulation is less than the difference between the expected losses between options, it is recommended to go for spraying water.
The unit product cost is $50.
Variable costs per unit,
Manufacturing:
Direct materials $ 6
Direct labor $ 9
Variable manufacturing overhead $ 3
Variable selling and administrative $ 4
Fixed costs per year:
Fixed manufacturing overhead $ 300.000
Fixed selling and administrative $ 190.000.
During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.
Full Cost per unit: It is the sum of all the costs related to the production of a product. It comprises Variable Costs, Fixed Costs, Manufacturing costs Mixed Costs, etc. It is calculated by the sum of all the Costs related to the product by the number of units produced. Income statement: All companies in order to calculate net profit or net loss prepare an income statement. The income statement is one of the important financial statements.
Learn more about Income statements here:-brainly.com/question/24498019
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Answer:
Question 1 is Differences in perception versus reality
Question 2 is Rent ceilings reduce the quality and quantity of available housing.
Explanation:
Question 1
Perception is a way of regarding, understanding, or interpreting something; a mental impression as result of pre-existing notions. Shen judgement was based on her knowledge of economics of free markets without taking into consideration of exceptions.
Reality on the other hand is the state of things as they actually exist, as opposed to an idealistic or notional idea of them. Shen with her economics knowledge understands that the situation on ground does not conform with what Valerie knows. This is because perception is inherently flexible and speculative while reality disrespects viewpoints and view angles and is inherently rigid and factual.
Question 2
Rent ceilings stimulate demand and this cause shortages. Where the ceiling is set, there is more demand than at the equilibrium price.
This leads to shortage of supply of rent housing. This is because investors and landlords will stop building new houses or apartments to satisfy existing or increasing quantity demand. This shortage of supply somehow will lead to search activity and invariably affect the quality and quantity of available housing.
Answer:
Terminates
Explanation:
The tenancy agreement binding the joint tenancy becomes void so it is terminated Because it has been bridged.
Answer:
a. selling identical items.
Explanation:
A pure competition market is characterized by many firms selling a homogeneous product in a market with many buyers. There are no dominant suppliers; hence no single or group of sellers can influence the price. Pure competition is also the perfect competition.
The key characteristics of pure competition are
- There are many buyers and sellers
- All firms sell an identical product
- All sellers are price takers. None can influence prices
- There is intense competition due to the high number of sellers
- Ease of entry and exit from the market.