Answer:
The answer is (a.) both (i) and (ii)
Explanation:
Actually, free markets allocate supply of goods to the buyers who value them most highly as measured by their willingness to buy and also allocate demand of goods to the sellers who can produce them at the least cost. This gives the customers the varieties to buy from depending on their pockets or willingness just as seen in the illustration above above firms A and B and the buyers Cassie and David.
Answer:
Job 334 total cost: $ 8,400
Unit cost: 8,400 / 200 = $ 42
Explanation:
Total cost: Material + Labor + Overhead
Material: 5,000
Labor: 2,400
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<u>Overhead:</u>
We distribute the expected cost over the expected base:
expected cost: 100,000
cost driver: 40,000 labor hours
cost per hour: 100,000 / 40,000 = <u>2.5 predetermined overhead</u>
Now we multiply this rate by the hours of the job to know Applied Overhead:
job labor hours x overhead rate:
Job #334 had 2,400 labor cost / $6 rate per hour = 400 hours
400 x 2.5 = 1,000
Total cost: 5,000 + 2,400 + 1,000 = 8,400
Answer:
Dr Lawsuit Expense 305,090
Cr Lawsuit Liability 305,090
Dr Lawsuit Loss 112,720
Cr Lawsuit Liability 112,720
Explanation:
Preparation of Journal entries
Based on the information given we were told that Buchanan had to paid the amount of $305,090 for damages which means that the Journal entry will be:
Dr Lawsuit Expense 305,090
Cr Lawsuit Liability 305,090
Based on the information given we were told that he was considering to establish the amount of $112,720 as a self insurance allowance which means that the Journal entry will be:
Dr Lawsuit Loss 112,720
Cr Lawsuit Liability 112,720
Answer:
1. not a competitive market
2. not a competitive market
3. competitive market
4. not a perfectly competitive market
Explanation:
To answer this question, i will first start by explaining what a competitive market is and the assumption of a perfectly competitive market as well
A competitive market is a market that has many producers and buyers of a particular product. The producers are usually in a competition to meet up with the needs of the buyers.
some assumptions of the market:
- large sellers/producers
- identical or homogenous goods
- free entry
- no discrimination
- perfect knowledge
a. in this question this is not a competitive market. the reason is simple. It says that there are only two providers of internet. So there are no enough producers or sellers
b. The government has limited entry into this market by giving patent to only one pharmaceutical company.
c. yes this market is competitive since there are many producers of the product and the consumers regard the products as identical or homogenous. this meets with all of the assumptions of a perfectly competitive market.
d. the product here is not homogenous or identical as this is not a perfectly competitive market since buyers would prefer to buy the coffee that tastes better and leave that of the competitors
thank!
<h2>He suffers from back and neck pain every now and then</h2>
Explanation:
Normally a software programmer of any field needs to code extensively. The room for physical work is very negligible or zero.
Software programmers fix issue, write code, attend client calls, coordinate with multiple team members. So they entirely use their brains and work.
So they have use keyboard and mouse extensively and often they forget to blink their eyes, relax their fingers during their extensive use, do proper exercise to relax their muscles and also improper posture while working on the computer.
Because of these factors, software programmers suffer from back and neck pain.
