Answer:
Lies below its demand curve and is steeper than its demand curve.
Explanation:
The marginal revenue curve for a monopolist lies below the demand curve because of the quantity effect. The quantity effect refers to the fact that even a monopolist must lower its price if it wants to sell a larger quantity of goods or services.
The slope of the marginal revenue curve is steeper than the demand curve because it reflects the market power of the monopolist. Instead, the marginal revenue curve for a perfectly competitive firm (with 0 market power) is horizontal or perfectly elastic.
Answer:
The use of raw material in the production process
Explanation:
The journal entry for recording the raw material used for the production process is shown below:
Work in Process Inventory A/c Dr XXXXX
To Raw Materials Inventory A/c XXXXX
(Being the raw material used for the production process is recorded)
For recording this transaction, we debited the Work in Process inventory account and credited the Raw Materials Inventory account
The government has total control in a command economy, all production, investment, prices and incomes are determined by the government. A command economy is also known as a communist society because business owners do not have any control over their businesses. In a command economy, there are risks/disadvantages of running operations this way because there is a lack of competition and efficiency. When the government controls everything, there is less competition because pricing is set by the government. There is also less efficiency due to them waiting on the government to make their decisions.
Explanation:
putting x = 1, and z = 19
ATQ
z + x + 8°
= 19° + 1 ° + 8 °
= 28°
Answer: See explanation
Explanation:
Sell as scrap:
Sales of scrap units:
= 22000 × $2.00
= $44,000
Rework:
Sale of reworked unit = 22000 × $8.50 = $187,000
- Cost to rework unit = 22000 × $4.50 = $99,000
- Opportunity cost of not making new unit = 22000 × ($8.50 - $6) = $45000
Incremental income(loss) = $33000
Since the incremental Income from scrap is more than reworking, then it implies that the company should sell as scrap.
