Refer to exhibit 4-5. if a free market were allowed in the transplanted kidney market, then the equilibrium price would be p2. t
he number of kidneys transplanted would increase by _________ compared to the number transplanted at a price ceiling of p= $0. (q3 - q2) q2 (q2 - q1) (q3 - q1)
1 answer:
Answer:
(q2 - q1)
Explanation:
I have uploaded the picture the question refers to below.
We can see that under a price ceiling of $0, the quantity of kidneys supplied is Q1, and if the price ceiling is removed, and the market is allowed to reach equilibrium, the new quantity of kidneys supplied is Q2, so the increase in the supply of transplanted kidneys can be found by the formula (q2 - q1)
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Answer:
WA 1,682
LIFO 910
FIFO 2,260
Explanation:
We add the units purchase and the subtotal to get the total units available for sale.
Ending inventory physical units: 970 - 810 = 160 units
<u>Then, we calculate for each method:</u>
Weighted average:
cost of goods / available units = 10,190 / 970 = 10.51
160 units x 10.51 = 1,681.6
LIFO:
Ending inventory will be the oldest units:
160 units x 8 = 960
FIFO:
Ending inventory will be the newest units as the units are sold as soon as they come in
90 x 15 = 1,350
70 x 13 = 910
Total 2,260
Answer:
3400, Rise, C
Explanation:
1. Since there are just 3 firms and two already has a sum total of 70% (40+30), the third firm will have a market share of 30%
HHI=
HHI= 1600+900+900
HHI= 3400
2. Abe's Bikes with 30% leaves the market, if the two firms were to share Abe's market share equally (15+15), it will leave Firm A with 55% (40+15) and Firm B with (30+15) 45%
Therefore,
HHI=
HHI=3025+2025
HHI= 5050
A rise in HHI
3. C
An index of 10,000 corresponds to a monopoly firm with 100% market share.