A mixed economy is where both private businesses and the government influence the factors of production.
Answer:
Total cost of Job A3B= $31,900
Explanation:
Job A3B was ordered by a customer on September 25.
The company applies overhead at a rate of 100% of the direct labor cost incurred.
Cost of September:
$3,400 of direct materials
$4,900 of direct labor.
$4,900 manufactured overhead
Total= $13,200
Cost of October:
$3,900 of direct materials
$7,400 of direct labor
$7,400 manufactured overhead
Total= $18,700
Total cost of Job A3B= 13,200 + 18,700= $31,900
Answer: Changes in production and demand
Explanation:
Answer:
d
Explanation:is wrong i got it wrong on edg
Answer:
a. 9%
b. Yes, the firm earning an economic profit of 2%
c. Yes, Industry will see entry or exits
d. Rate of return of economy = 7%
Explanation:
a. Percentage rate of return = Earning ÷ Investment by founders × 100
= $18 ÷ $200 × 100
= 9%
b. Company rate of profit - Rate of profit of economy
= 9% - 7%
= 2% > 0
Yes, the firm earning an economic profit of 2%
c. Yes, Industry will see entry or exits because industry is competitive in nature and would to like to compete to others by satisfying the consumers . In perfect competitive markets there will be no entry or exits and critical characteristics reason companies are free for entry and exit for marginal profits.
d. Industry is competitive , there will be supplier to serve the market and its hard to decide the price of the product.
Hence, the rate of return long run equilibrium earned by firm = Rate of return of economy = 7%