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2 years ago

When the "invisible hand" guides economic activity, prices of products reflect______________.

Business

1 answer:

FinnZ [79.3K]2 years ago

7 0

Answer:

b) both the values that society places on those products and the costs to society of producing those products

Explanation:

When the "invisible hand" guides economic activity, prices are known as equilibrium prices.

Equilibrium price is found where the demand curve intersects with the supply curve .

Equilibrium price is the price where both the value that society places on those products and the costs to society of producing those products are equal.

I hope my answer helps you

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Mass media can be employed to publicize a cause or product by distributing information that is distorted or exaggerated. What is

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Explanation:

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2 years ago

XYZ Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 1,000 units i

Georgia [21]

Answer: 61,200 units

Explanation:

Using the FIFO method:

= Equivalent units for beginning WIP + Units started and finished + EUP Ending WIP

Units started and finished = 65,000 additional units - 10,000 closing WIP

= 55,000 units

80% of the beginning WIP had been completed in the previous month so only 20% remains.

EUP Conversion = (1,000 * 20%) + 55,000 + (10,000 * 60%)

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2 years ago

Kareem bought a rental house in March 2014 for $300,000, of which $50,000 is allocated to the land and $250,000 to the building.

Bingel [31]

Answer: See explanation

Explanation:

a. What is Kareem's realized gain or loss?

Amount realized from sale = $330,000

Less: adjusted basis for house and land = $269000

Less: tennis court adjusted basis = $6200

Realized gain = $54700

b. What is the adjusted basis of the rental house and land at the time of the sale?

Original land basis = $50000

Add: Original house basis = $25000

Less: Depreciation = $30900

Adjusted basis = $269100

c. What is the adjusted basis of the tennis court at the time of the sale?

Tennis court original basis = $7500

Less: Depreciation = $1300

Adjusted basis of the tennis court = $6200

d. If the buyer takes the property subject to the $80,000 mortgage, rather than assuming it, what is Kareem's realized gain or loss?

Amount realized = $330000 + $80000 = $410,000

Less: Adjusted basis for house and land = $269100

Less: Adjusted basis of tennis court = $6200

Realized gain = $134700

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3 years ago

Clampett, Inc. converted to an S corporation on January 1, 2018. At that time, Clampett, Inc. had cash ($40,000), inventory (FMV

Lubov Fominskaja [6]

Answer

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Explanation

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2 years ago

Which of the following describe some of the trade-offs faced by a family deciding whether to buy a new car? Check all that apply

GaryK [48]

Answer:

The correct answer is letter "A" and "C": An increase in the family's car payment means the family will be unable to afford a vacation; A newer model offers better protection and functions but is more expensive than an older model.

Explanation:

Trade-offs are the result of comparing what must be acquired with what should be given up to satisfy most of a need. While selecting a new vehicle, a family must consider its capacity, size, and price. Besides, they will have to evaluate all the could be left behind for incurring such expenses like buying a new piece of furniture of use of most members of the family, remodeling part of the house or going on a family vacation.

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2 years ago