Denise Company manufactures three products from a joint process. Joint costs for the year amounted to $250,000. The following d
1 answer:
Answer:
Product X is allocated with 87,500 dollar of the joint cost.
Explanation:
We allocate the values considering the weight of their sales value:
Joint cost: 250,000
We add up the sales values and then calcualte how much each product contributes to that.
Then we multiply that weight or percentage of sales revenue by the joint cost to get the allocated on each product.
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Answer:
1. Equilibrium price ,p = $1.20 per pound, equilibrium quantity = 95 million pounds.
2. Surplus = 0
Explanation:
1. From the question,
the equilibrium price = 1.20
The equilibrium quantity = 95 million per pounds.
Equilibrium is gotten when Quantity supplied = quantity demanded.
2. When price floor == $1.00
Quantity demanded = 101
Quantity supplied = 79
Monthly surplus = 79 - 101 = -22
Quantity demanded > quantity surplus.
This implies that there is no surplus.
Surplus = 0
3. If a decrease in cost of feeding cows shift supply by 40 million we will have new supply schedule =
New qs = Qs + 40
63+40 = 103
71+40= 111
79+40 = 119
87+40= 127
95 + 40 = 135
103 + 40 = 143
111+40 = 151
119 + 40 = 159
127 + 40 = 167
135 + 40 = 175
143 + 40 = 183
