Answer:
$58,200.
Explanation:
We use the inventory identity to solve for COGS
Beginning Inventory 27,300
Production 57,500
Ending 26,600
27,300 + 57,500 = 26,600 + COGS
COGS = 27,300 + 57,500 - 26,600
COGS = 58,200
Answer:I think it would be $192000
Explanation:hopefully I am right
They are resources that are the building blocks of the economy.
Answer:
A
Explanation:
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
Because price is below equilibrium price, consumer surplus would increase and producer surplus would reduce
Answer:
B. What is the most effective allocation?
Explanation:
Economics is the social study of how society allocates its limited resources to meet the unlimited need of its members. It involves the distribution of scarce resources to various sections of the community to meet different wants. Economist's primary concern is the efficient use of the available resources to achieve maximum benefits.
Economics will involve making decisions on the use of available resources. Economists will calculate the opportunity cost in every situation before making a decision. The purpose of finding the opportunity costs to determine the most effective ways of allocating resources.
