Answer: Option C
Explanation: The given case is an example of violation of anti trust laws. Anti trust laws is collection of laws made by Govt. of America to protect the consumer benefit in the market.
A per se violation refers to the violation of anti trust law through any agreement or contract as such.
In the given case, the association has made an agreement within, that will result in consumer loss as it will hinder the competition in the market.
Thus, we can conclude that the boycott of group is violation of an anti trust law.
Price floor can be used by policy makers to keep the price of beef from getting too high.
A price floor is a restriction on how low a price can be imposed for a good, item, or service that is set by the government or another party. To be effective, a price floor needs to be greater than the equilibrium price.
It is the least amount that is permissible under law to exchange products and services, labor, or financial capital.
The minimum wage, which is founded on the normative idea that someone performing a full-time job should be able to afford a basic level of living, is maybe the best-known example of a price floor.
In order to prevent a commodity's market price from falling too low and endangering the producers' ability to make a living, governments typically set a price floor.
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Explanations:
Required 1
Actual manufacturing overhead= $11000+20000+143000= $174000
Underapplied or overapplied overhead= Actual manufacturing overhead-Applied manufacturing overhead
= $174000-152000= $22000 underapplied
Required 2
Adjusted cost of goods sold= $342000+22000= $364000