Answer:
Hence, the firm's total variable cost of producing three units of output is $48 unit.
Thus, the correct option is d. $48 unit.
Explanation:
The computation of total variable cost is shown below:
= marginal cost of the First unit of output + marginal cost of the second unit of output + marginal cost of the third unit of output
= $20 + $16 + $12
= $48
The variable cost include all type of cost which is change when the production level changes. In the given question, the output level changes with the unit which reflects the variable cost. So, the cost would be added in the computation part.
Hence, the firm's total variable cost of producing three units of output is $48 unit.
Thus, the correct option is d. $48 unit.
Answer:
They create the money they lend to borrowers.
Explanation:
:) Let me know if this helps!
(Are you talking about commercial banks?)
Answer:
B. Best would be considered the parent entity.
Explanation:
When a company owns another companies stock of 90% or more it would be considered as parent entity. The parent entity can control the the subsidiary. The financial statements will be consolidated into parents companies accounts.
Answer:
Explanation:
Date Account title and Explanation Debit Credit
1st july-14 Notes receivable $1,393,591
Discount on notes receivable ($1,393,591 - S600,100 - $317,900) $475,591
Land $600,100
Gain on disposal of land ` ($918,000 - $600,100) $317,900 ` (To record sale of land)
1-Jul-14
Notes receivable $404,300
Service revenue $404,300
` (to record service revenue)
Answer:
people care more about their own surplus than they do about total surplus.
Explanation:
Price control can either be a price ceiling or a price floor.
A price ceiling is when the government or an agency of the government sets the maximum price for a good or service. It is usually set below equilibrium price.
Price ceiling increase consumer surplus and reduce producer surplus.
A price floor is when the government or an agency of the government sets the least price a good or service can be sold. It is usually set above equilibrium price.
Price floor increases producer surplus and reduces consumer surplus.
Producers would be advocating for a price floor because it increases their surplus, while, consumers would advocate for a price ceiling.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.
Producer surplus is the difference between the price of a product and the least price the seller is willing to sell the product.
I hope my answer helps you
