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Mila [183]
3 years ago
11

While waiting in line to buy one cheeseburger for $1.50 and a medium drink for $1.00, Sally notices that she could get a value m

eal that contains both the cheeseburger and medium drink and also a medium order of fries for $2.75 . She thinks to herself, "Is it worth the extra 25 cents to get the medium fries?" To an economist, Sally's decision is an example of:________.
a. marginal analysis.
b. basing decisions on total, rather than marginal, value.
c. an unintended consequence.
d. the fallacy of composition.
Business
1 answer:
mrs_skeptik [129]3 years ago
4 0

Answer:

a. marginal analysis.

Explanation:

The cost to add the fried will be the cost added to obtain the fries rather than the cost of a single medium order of fries.

This is the basis of the marginal analysis on which the revenue and marginal cost represent the extra revenue granted for an additional unit and the extra cost for producing an unit. In theory, the firm produce when marginal revenue matches marginal cost.

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3 years ago
Explain how and why governments may want to regulate the price setting of a natural monopoly.
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The government wants to protect the consumer's interest, that is why they are regulating the monopoly. Monopolies have the power to set higher prices than the competitive market. They regulate monopolies to prevent excess prices, quality of service( to ensure the firm receives minimum standard of service), monopoly power,promote competition, and natural monopolies( we cannot encourage competition, and it is essential to regulate firm to prevent monopoly of power). <span />
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3 years ago
Upton Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products usin
Nataliya [291]

Answer:

$67.80.

Explanation:

                                                 Long                       Short

Direct materials per unit          $ 14.70                   $ 48.50

For 60,000 units                   882,000

Direct labor per unit                 $ 17.30                   $ 50.90

For 60,000 units                   1038000

Direct labor-hours per unit       0.70                           2.10

Estimated Overhead          1796,077                  1690,343

Total Costs                         3716077

Unit Cost = Total Costs/ No of units = $    3716077/ 60,000= $ 61.93=$ 62

Working

Direct labor support  Cost for Long= ( $ 2,034,020 / 63,000 )* 42,000   =

$ 1356,013

Setting up machines Cost for Long(434,400 /  2,940 )*1190=  $175,829

Part administration Cost for Long =( 1,018,000 / 3,660)* 950= $ 264,235

                                                 Long           Short

Direct materials per unit          $ 14.70     $ 48.50

Direct labor per unit                 $ 17.30      $ 50.90

Direct labor-hours per unit       0.70             2.10

Annual production                 60,000           10,000

Estimated total manufacturing overhead  $3,486,420

Estimated total direct labor-hours  63,000

Activities                             Activity                Estimated            

                                            Measures        Overhead Cost

Direct labor support              (DLHs)            $ 2,034,020

Setting up machines             (setups)                434,400

Part administration             (part types)             1,018,000

Total                                                                  $ 3,486,420

Expected Activity             Long           Short          Total DLHs

                                       42,000         21,000            63,000

Setups                              1,190             1,750             2,940

Part types                         950             2,710               3,660

The unit product cost of product Long under the company's traditional costing system is closest to:

3 0
3 years ago
Which account has the lowest minimum balance requirement? Bank Account Terms and Conditions Account A Account B Account C Accoun
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Answer:

d

Explanation:

3 0
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Read 2 more answers
A 12-year, 5% coupon bond pays interest annually. The bond has a face value of $1,000.__________ Fill in the blank, read surroun
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Answer:

12.38% decrease

Explanation:

Given the following parameters

6%

Number of years = 12

Market yield I= 6 === 4.5

Present Value = 916.16 == 1045.59

PMT (annuity payment) = 50 (5%x1000)

Future value = 1000

Therefore, to solve for the percentage change, we have in the price of this bond in this situation, we have (916.16-1045.59) / 1045.59 = -0.1238

Hence, 12.38% decrease is the percentage change in the price of this bond if the market yield rises to 6% from the current yield of 4.5%,

5 0
3 years ago
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