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Katyanochek1 [597]
3 years ago
7

When students in a large class were surveyed about how much they would be willing to pay for a coffee mug with their university’

s logo on it, their medium willingness to pay was $5. At random, half of the students in this class were then given such a coffee mug, and each of the remaining students were given $5 in cash. Students who got mugs were then offered an opportunity to sell them to students who had not gotten one. According to standard economic models, how many mugs would be expected to change hands? How, if at all, would a behavioral economist’s predication differ?
Business
1 answer:
Misha Larkins [42]3 years ago
3 0

Answer:

Explanation:

1). How about we explain the standard financial model previously dependent on normal desire.

Since the medium ability to pay is $5, we can accept a large portion of the individuals have more readiness to pay than $5 and a large portion of the individuals have less. (Since it's a huge class, we can expect this)

In this way, half of them who got the mug will sell, as per standard hypothesis.

2). Presently conduct business analyst will oppose this idea. Individuals who got the mug, get an enthusiastic and nostalgic connection with it, in this manner they might not want to sell it since they get utility in the wake of having something, so by social hypothesis, not exactly 50% of students who got the mug will sell.

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One example of a company that is allowed to sell shares to the public​
Nuetrik [128]

A public company may be formed by persons among the public including Indian nationals or foreigners. It may be conceived in the government, cooperative, joint, as well as private sector of the economy. Some examples of public companies are, Reliance Industries, Tata Motors, Bharti Airtel, Larsen & Tourbo, etc.

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5 0
3 years ago
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginni
Fofino [41]

Answer:

Selling price for Job C $93,300  

Selling price for Job M $78,204

Explanation:

The computation of the selling prices for Job C and for Job M is given below:

But before that following calculations need to be done

Departmental overhead rates:  

Molding 6.50   (2.5 + (36000 ÷ 9000))

Customizing 6.70  (3 + (13320 ÷ 3600)

Particulars          Job C          Job M

Direct materials  $16,700       $9,900

Direct labor cost $23,400     $10,300

Overhead applied:  

Molding               $17,550       $40,950

                      (2700 × 6.50)  (6300 × 6.50)

Customizing       $20,100        $4,020

                     (3000 × 6.70)    (600 × 6.70)

Total manufacturing cost $77,750 $65,170

Add: Markup at 20% $15,550 $13,034

Selling price    $93,300    $78,204

7 0
2 years ago
Variable Costing—Production Exceeds Sales Fixed manufacturing costs are $44 per unit, and variable manufacturing costs are $100
Soloha48 [4]

Answer:

a. The variable costing operating income is less than absorption costing operating income.

b. The difference in variable costing and absorption costing operating income is:

= $739,200.

Explanation:

a) Data and Calculations:

Fixed manufacturing costs per unit = $44

Variable manufacturing costs per unit = $100

Production units =  67,200

Sales units =          50,400

Ending inventory = 16,800

Income Statements             Variable        Absorption

                                             Costing           Costing

Costs of goods sold:        $5,040,000   $7,257,600

Fixed expenses                  2,956,800

Total costs                        $7,996,800   $7,257,600   $739,200

b) The difference in variable costing and absorption costing operating income is because of the absorbed fixed costs in ending inventory, which is now carried forward to the next accounting period.

4 0
2 years ago
Operations management deals with the set of activities that create value in the form of goods and services by transforming input
blondinia [14]

Answer:

The statement is True.

Explanation:

The operations management of any organization is responsible to create value for the organization by transforming raw material into finished goods and convert input into output. The operation management deals with set of activities and follows all the guidelines and operating procedures in order to create value for the organization and achieve ultimate goals of the company.

4 0
3 years ago
Oliver's Company (OC) produces batches of chicken and beef organic dog food. Each time OC switches production from chicken to be
Vlad1618 [11]

Answer:

$3,600

Explanation:

Calculation to determine what amount of set-up costs should be allocated to the chicken dog food

Using this formula

Set-up costs = Cost per each set up * Totals ups

Let plug in the formula

Set-up costs=$20 * 180

Set-up costs=$3,600

Therefore the amount of set-up costs that should be allocated to the chicken dog food is $3,600

6 0
2 years ago
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