Answers are:
<span>Producers supply the exact goods that consumers buy.
Consumers have enough goods, at the given price
</span><span>Producers use their resources efficiently
At the equilibrium price, the quantity bought= quantity sold. Consumers have enough goods at the given price, meaning that there isn't anyone who wants to buy the good at that price but can't, and producers use their resources efficiently.
The whole economy does not waste resources, since this is the market-efficient outcome, and there aren't many shortages or surpluses for the same reason. </span>
Answer:
1) completed and transferred 293,000
<u><em>Equivalent units under W/A method:</em></u>
EU materials 338,500
EU conversion 306,000
Explanation:
Beginning WIP 33,000
started and completed <u>260,000</u>
completed and transferred 293,000
Ending WIP 65,000
EU under weighted-average methood:
complete and transferred plus percentage of completion ending WIP
293,000 + 65,000 x 70% = 338,500
293,000 + 65,000 x 20% = 306,000
<span>the Salvatore has n number of class a widgets and n number of class b widgets.Since the Salvatore ships class b widgets to bart ,Bart has 0 class a widgets and 20,000 class b widgets.</span>
Answer:
Option A
Make the logistics function more complicated
Explanation:
The JIT inventory system refers to the Just In Time inventory system.
The just-in-time (JIT) inventory system is a management strategy where warehousing of parts is minimum. Rather, the raw material supply is aligned accurately with the production schedule of a particular good.
For example, in car production, the various car parts are supplied by various manufacturers at just the right time so they can be assembled to make up the car in the assembly line. The car assembly companies may not necessarily have to store raw materials in their ware house since the raw materials arrive "Just in time".
However, aligning the supply of raw materials accurately with production time, is a complicated task especially when a lot of manufacturers are involved and can need to plant down time if care is not taken. This makes the logistics function more complicated.
Question Completion:
What is a price floor?
Answer:
A price floor of $2 for milk producers across Arizona and nationwide means that the government does not want the price of milk to fall below $2. This measure enables dairies to remain in operation. It favors producers to the detriment of consumers, at least in the short-run.
Explanation:
However, assuming that the market was efficient before the price floor was introduced by the government, the price floor of $2 per gallon for milk could cause a deadweight loss to occur. In Economics, a deadweight loss reduces economic efficiency. It implies that consumers pay a higher price for the same quantity of goods they were purchasing before the price floor was introduced. Thus, the reaction of consumers would be to reduce their demand or drop out of the market entirely (instead of producers dropping out of the market through the normal operation of the market forces).
