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3 years ago

All goods and services are scarce because

2 answers:

8 0

Goods and services are scare because the resources required to produce these goods and services are limited in supply and that is why we can't fulfill all the wants of the people, which results in Scarcity to arise. In economics the basic economic problem arises because resources are limited and wants are unlimited and therefore everyone cannot have what they need and that is why we have a connection with opportunity cost. We need to sacrifice or forego the items we can't have and therefore with the economic problem of scarcity, opportunity cost arises. If we can satisfy everyone's wants, then there is no question about having scarce resources.

tino4ka555 [31]3 years ago

3 0

All goods and services are scarce because resources are limited. People needs to balance everything. They should weigh needs and wants.

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A competitive firm currently produces and sells 500 units of output. Its total revenue is $3,500; the marginal cost of producing

Orlov [11]

Answer: Reduce output

Explanation: Profit = Total Revenue – Total Costs

Therefore, profit maximization occurs therefore, profit maximization occurs at the most significant gap or the biggest difference between the total revenue and the total cost.

TC = AC×Q = $4×500 = $2,000

Theoretically, profit maximization occurs where MR = MC

From the forgoing, producing an extra unit will increase the cost of the company thereby reducing profit.

The company should reduced output to around 499 units or less

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3 years ago

The All-Star Basic Value Fund's portfolio is valued at $250 million. The fund has liabilities of $23 million, and the fund’s net

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$13.27 is the fund's number of shares outstanding

Solution:

Given,

The All-Star Basic Value Fund's portfolio is valued at $250 million

Liabilities of $23 million

Net asset value = 17,100,000

Now ,

To find , fund's number of shares outstanding :

NAV = ($250 million - $23 million)/17.1 million = $13.27

$13.27 is the fund's number of shares outstanding

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3 years ago

Keystone Foods, which invented the individual quick freeze process for beef, provides McDonald's with millions of pounds of chic

garik1379 [7]

Answer:

industrial

Explanation:

Generally companies can focus on producing goods and services for final consumers (B2C market), for other businesses (B2B market) or for the different government levels (public contracts).

In this case, Keystone Foods focuses on business-to-business (B2B) markets since it provides intermediate goods to other companies that later processes them into final goods that are purchased by final consumers.

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3 years ago

The following data represent quantities of tea leaf pluckings (tender shoots from tea plants) from sixteen different plots of te

mr_godi [17]

Answer:

Explanation:

1) $H_0$ : All group means equal or $\mu _1=\mu _2=\mu _3=\mu _4$

$H_1:\mu 1=\mu 2=\mu 3\neq \mu 4$

At least one of the treatment group means are different

ANOVA TABLE

Source of Variation SS df MS F P-value F crit

Between Groups 213.5 3 71.16667 0.65 0.5975 3.490295

Within Groups 1312.5 12 109.375

MSB = SSB / DFB = 71.16667

MSE = SSE / DFE = 109.375

F = MSB / MSE = 0.650667

3) P-value: 0.597576

The test statistic is not significant and failed to reject the null hypothesis.

4) The test statistic is not significant. So, there is no evidence to conclude that there is a difference between groups.

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3 years ago

Lindsey Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A

natita [175]

Answer:

Results are below.

Explanation:

First, we need to calculate the activities rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Activity 1= 24,000 / 1,000= $24 per activity unit

Activity 2= 36,900 / 900= $41 per activity unit

Activity 3= 63,000 / 1,800= $35 per activity unit

Now, we can allocate costs to product A:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Activity 1= 24*200= $4,800

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Total allocated costs= $70,550

Finally, the unitary cost:

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3 years ago