Answer:
a. The socially efficient levels of abatement for UNC power plant is 10.
Explanation:
Note: See the attached Microsoft word file for the calculations of the anwers above.
Answer:
D. is imperfectly competitive, but not all imperfectly competitive markets are monopolistically competitive.
Explanation:
Monopolistic competition may be seen as a variety of competition that determine the characteristics of variety of industries that are familiar to consumers in their day-to-day lives. For instance, restaurants, hair salons, clothing, and consumer electronics are all monopolistic competitive market but not all imperfectly competitive markets are monopolistically competitive.
The answer to question one is raising financial capital is difficult and the owner is personally liable for business debts.
Sole proprietorships have a number of advantages and disadvantages. These are two of the biggest disadvantages.
Question number two can be solved through the process of elimination. The workers and shareholders would not be hiring anyone. This leaves the Presidents and Vice Presidents. The President would normally hire the Vice Presidents, and then the Vice Presidents would hire and supervise the heads of the departments.
Answer:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
- materials = 275,000 + 50,000 = 325,000
- conversion = 275,000 + 12,500 = 287,500
2. Compute the first production department's cost per equivalent unit for materials and conversion for May.
- materials = $169,000 / 325,000 = $0.52
- conversion = $253,000 / 287,500 = $0.88
3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.
- materials = 50,000 x $0.52 = $26,000
- conversion = 12,500 x $0.88 = $11,000
- total = $37,000
4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.
- materials = 275,000 x $0.52 = $143,000
- conversion = 275,000 x $0.88 = $242,000
- total = $385,000
Explanation:
Beginning WIP 70,000 units
materials $56,100
conversion $16,400
Ending WIP 50,000 units
100% completed for materials (50,000 EU)
25% completed for conversion (12,500 EU)
units started 255,000
total units transferred out 275,000
materials cost added during the period = $112,900
conversion cost added during the period = $236,600
Cross elasticity of demand measures the responsiveness in the quantity demand of one good when a change in price takes place in another commodity or good. It is calculated by dividing the percentage change in the quantity demanded of one good by the percentage change in price of other good.
Therefore, in this case, cross elasticity of demand will be;
17%/-2% = - 8.5 (-2% because its a decrease)
Thus , the elasticity will be -8.5
