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ale4655 [162]
3 years ago
14

The law of increasing costs means that when an economy increases the production of one item

Business
1 answer:
KonstantinChe [14]3 years ago
3 0
The law of increasing costs means that when an economy increases the production of one item the opportunity cost goes up. It <span> is a principle that states that once all factors of production (land, labor, capital) are at maximum output and efficiency, producing more will </span>cost<span> more than average.</span>
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Consider Derek's budget information: materials to be used, $64,750; direct labor, $198,400; factory overhead, $394,800; work in
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Answer:

Option (c) is correct.

Explanation:

Given that,

Materials to be used = $64,750;

Direct labor = $198,400;

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Work in progress inventory on December 31, = $197,600

Firstly, we are calculating the manufacturing cost by adding direct material, direct labor cost and factory overhead. It is calculated as follows:

= Direct material + Direct labor + Factory overhead

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= $657,950

Cost of goods manufactured determine the value of goods produced during a period of time. It refers to the cost that is incurred to convert the raw material into the finished goods.

Therefore, the cost of goods manufactured is calculated as follows:

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Suppose the multiplier is 5 and the government increases its purchases by $15 billion. Also, suppose the AD curve would shift fr
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Answer:

A) 20 billion

Explanation:

Y = AD

   = C + I + G  

C = A + cY

A - Autonomous Consumption

c - MPC

Y = A + cY + I + G

Y - cY = A + I + G

Y(1 - c) = A + I + G  

Y = (A + I + G)*1/(1 - c)

Taking derivative with respect to goverement purchase  

dY/dG = 1/(1 - c)  

( here d is represting del we are representing partial derivative.)

1/(1 - c) = Multiplier

dY = Multiplier*dG  

     = 5*15  

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75 = horizontal distance between AD1 & AD2

55 = horizontal distance between AD1 & AD3  

Extent of crowding out = 75 - 55 = 20

Therefore, the Extent of crowding out is 20 billion.

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3 years ago
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Answer:

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Explanation:

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