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3 years ago

If a market produces a level of output that exceeds the competitive equilibrium output, then

Business

1 answer:

lawyer [7]3 years ago

3 0

Answer:

c) marginal cost will exceed price.

Explanation:

Marginal cost, the cost per additional unit sold, is calculated by dividing the change in total cost by the change in quantity. The formula for marginal cost is: Ordinarily, marginal cost changes as the firm produces a greater quantity

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Ship Co. produces storage crates that require 1.2 meters of material at $.85 per meter and 0.1 direct labor hours at $15.00 per

Zanzabum

Answer:

Standard cost= $3.42

Explanation:

Giving the following information:

Ship Co. produces storage crates that require 1.2 meters of material at $.85 per meter and 0.1 direct labor hours at $15.00 per hour. Overhead is applied at the rate of $9 per direct labor hour.

To calculate the standard cost we need to use the following formula:

Standard cost= standard direct material + standard direct labor + allocated overhead

Standard cost= 1.2*0.85 + 0.1*15 + 9*0.1

Standard cost= $3.42

6 0

4 years ago

Suppose that in the country of Worthland, the productive resources are owned by the state and most economic decisions are made b

Tasya [4]

Suppose that in the country of Worthland, the productive resources are owned by the state and most economic decisions are made by its central government. This country has "planned economy".

<h3>What is planned economy?</h3>

An economic system where the components of the economy (such as labor, capital, and natural resources) are under the direction and regulation of the government in order to meet the goals of an all-encompassing economic development plan; contrast with free enterprise.

Some features of planned economy are-

The government owns and controls all resources.
Producer or consumer sovereignty do not exist.
The pricing of products and services cannot be determined by market forces.
The government's principal goal is to provide products and services to everyone, not to make a profit.
As a result, the government decides what sorts of things and services will be created, how those goods and services will be made, and who will use them.

Characteristics of this economy include-

governmental control of wages and pricing,
limited property rights,
government ownership of key businesses and industries, and
robust black markets.

To know more about planned economy, here

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3 0

2 years ago

"A client of a sales representative who is based in New York moves to the State of Florida. The sales representative and his bro

Alex Ar [27]

Answer:

Both the sales representative and his broker-dealer must register in the state of Florida in order to legally solicit orders for any client living in that state. The client was originally living in New York, but once he/she moved to Florida, Florida's Uniform State Law requires that the sales representative and the broker dealer register with them. Once they are registered, they can solicit orders for this specific client and any other client that they might have in the state.

5 0

3 years ago

What advantage do federal loans have over private loans?

elena55 [62]

Answer:

O A

they have a low rate of interest

O c. they allow a longer repayment period

OD.

they have an easier application process

6 0

3 years ago

Two methods can be used for producing solar panels for electric power generation. Method 1 will have an initial cost of $550,000

Natasha_Volkova [10]

Answer:

the company should choose method 1

Explanation:

Method 1 Method 2

Initial outlay $550,000 $830,000

operating costs (years 1,2,3) $160,000 $120,000

salvage value $125,000 $324,000

we must determine which alternative has the lowest present value:

method 1 = $550,000 + $160,000/1.1 + $160,000/1.1² + $160,000/1.1³ - $125,000/1.1³ = $550,000 + $145,455 + $132,231 + $120,210 - $93,914 = <u>$853,982</u>

method 2 = $830,000 + $120,000/1.1 + $120,000/1.1² + $120,000/1.1³ - $324,000/1.1³ = $830,000 + $109,091 + $99,174 + $90,158 - $243,426 = $884,996

5 0

4 years ago