Answer:
funny business has the word loan in it never trusted cuz one they might take away all your money and use it for something else like spending it on spoiled Rich daughters and pretty much just using your own money on random things that they don't need
Answer:
(i) 95 (F)
(ii) 125 (F)
(iii) 220 (Overapplied)
Explanation:
Variable Overhead Rate Variance:
= Actual Hours × (Actual Rate - Standard Rate)
= 1,900 × ($1.20 - $1.25)
= 95 (F)
Variable Overhead Efficiency Variance:
= Standard Rate × (Actual Hours - Standard Hours)
= $1.25 × (1,900 - 1 × 2,000)
= 125 (F)
Over- or Underapplied Variable Overhead:
= Actual Overhead Incurred - Overhead Applied
= (1,900 × $1.20) - (2,000 × $1.25)
= 220 (Overapplied)
The answer is marginal revenue (MR) curve above $22.
Explanation:
Jim and Lisa Groomers will maximize its accounting profit when taking it to 0 its economic profits when marginal revenue = marginal costs.
Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.
Economic profit = account profit = Opportunity profit
Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.
Answer:
The graph has been attached.
Explanation:
a. Please see attached graph with the shaded budget set labelled A
b. Please see attached. Curve C; D and E are the indifference curves. The most suitable one would be D since it is on the budget curve. E is not maximum utility and C is unattainable given his budget of $20.
c. U (X,Y) = X + 2Y
At C, Utility = 10 + 2(10) = $30. That is above his budget
At D, Utility = 10 + 2(5) = $20. This is within his budget. – most utility.
At E, Utility = 5 + 2(5) = $15. This is below his budget.
The Indifference curve that gives most utility is D, where cheese is 10 and cocoa is 5 units.
