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3 years ago

Explain what is meant by a good being "excludable." Explain what is meant by a good being "rival in consumption."

Business

1 answer:

vovikov84 [41]3 years ago

8 0

Answer:

If you can prevent a nonpaying consumer from having access to a good or service, that good is excludable. For example, only clients that buy a ticket can enter a movie theater and watch the movie.

A good or service that can be consumed by only one consumer (or a specific number of consumers) is rival in consumption because other people cannot consume them simultaneously. For example, once the movie theater sold out, no more people can get inside and watch the movie.

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The offeror may _____ the offer at any time prior to acceptance.

ivanzaharov [21]

Answer:

The offeror may retract the offer at any time prior to acceptance.

Most likely the offeror was able to get a better deal somewhere else, which allows the offeror to retract the offer. However, if they had already made a deal, the offeror would have broken the deal, which may result in action.

8 0

3 years ago

An architecture firm charges clients $250 per hour for their services, and they pay their architects an average of $175 per hour

erma4kov [3.2K]

Answer:

A)$135,000

Explanation:

service fee 250

average wage 175

contribution 75 this is the ammount generate per hour billed

expected hours billed for the year 10,000

hours x contribution per hour = total contribution

10,000 x 75 = 750,000

Operating cost <u> (615,000) </u>

Earnings before taxes 135,000

3 0

3 years ago

The profit motive is important to a market economy because it

Marrrta [24]

Encourage people to open business and invent new product.

6 0

3 years ago

Alliance Company budgets production of 23,000 units in January and 27,000 units in the February. Each finished unit requires 4 p

iris [78.8K]

Answer:

Total= 96,800 pounds

Explanation:

To calculate the direct material requirement, we need to use the following formula:

Budgeted material= required for production + desired ending inventory - beginning inventory

<u>Budgeted material:</u>

Production for January= (23,000*4)= 92,000

Desired ending inventory= (27,000*4)*0.3= 32,400

Beginning inventory= (27,600)

Total= 96,800 pounds

7 0

3 years ago

Fletcher Company collected the following data regarding production of one of its products. Compute the direct materials quantity

laiz [17]

Answer:

Direct materials quantity variance = 5800 Unfavorable

so correct option is $5,800 unfavorable

Explanation:

given data

Direct materials standard 6 lbs. @ $2/lb. = $12 per finished unit

Actual direct materials = 230,900 lbs

Actual finished units produced = 38,000 units

Actual cost of direct materials = $459,390

to find out

Direct materials quantity variance

solution

we get here Direct materials quantity variance that is express as

Direct materials quantity variance = ( Actual Quantity - Standard Quantity) × Standard Price ........................1

we know here Actual Quantity is 230,900 lbs

and Standard Quantity is = Actual finished units produced × Direct materials standard quantity per unit

Standard Quantity = 38000 × 6

Standard Quantity = 228000 lbs and here Standard Price is $2 per lb

so put here value in equation 1 , we get

Direct materials quantity variance = (230900 - 228000) × $2

Direct materials quantity variance = 5800 Unfavorable

so correct option is $5,800 unfavorable

3 0

3 years ago