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Klio2033 [76]
3 years ago
14

Steve's utility for socks (91) and other goods (92) is given by U(21,92) = 10q1.1 q2.9 The price of the composite good is p2=1 a

nd the price of a pair of socks is p1=2. Steve's income is Y=100. Every year, Steve's mom buys him 20 pairs of socks. Find the equivalent variation of the gift. What is the difference between the cost of the gift and the equivalent valuation cash amount?
Business
1 answer:
xz_007 [3.2K]3 years ago
6 0

Answer:

120

Explanation:

Look up attached file

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Accounts Randall Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various ag
Crazy boy [7]

Answer:

Explanation:

The journal entry will be:

Debit: Bad debt expense $2500

Credit: Allowance for doubtful $2500

Then, we will calculate the net amount of account receivable that should be included in current assets which will be:

Account receivable = $128000

Less: Allowance for doubtful = $500 + $2500 = $3000

Net amount of account receivable = $125000

8 0
3 years ago
Choose the correct statement.
grandymaker [24]

Answer:

D) When price is lowered to sell one more​ unit, the lower price results in a revenue loss and the increased quantity sold results in a revenue gain.

  • When you offer a sales discount, you are losing revenue since marginal revenue is lower than price, but at the same time if the marginal revenue is ≥ to marginal cost, then your profit and total revenue is increasing.

Explanation:

the other statements are false because:

  1. A. Marginal revenue equals total revenue divided by quantity sold.  FALSE, MARGINAL REVENUE IS THE REVENUE GENERATED BY SELLING ONE ADDITIONAL UNIT.
  2. B. For a​ monopoly, marginal revenue equals price.  FALSE, FOR A MONOPOLY MARGINAL REVENUE IS LOWER THAN PRICE.
  3. C. For a​ monopoly, total revenue equals marginal revenue multiplied by the quantity sold.  FALSE, TOTAL REVENUE = PRICE X QUANTITY SOLD
4 0
3 years ago
If a monopolist produces 100 units of output at a market price of $5 per unit with marginal revenue per unit equaling $4, we wou
andre [41]

Answer: a. Higher than 100 units , price lower than $5 and Mr = price

Explanation:

Firms competing in perfect market conditions are Price Takers, the produce quantity at the level where Marginal Revenue equals Marginal cost. Since firms are price takers their Marginal Revenue is the Market Price P. They can only increase quantity if they want to earn more profit,  Therefore Price = Marginal Revenue = Marginal Cost.

The Quantity will increase and the price will be lower than $5. Price = Marginal Revenue = Marginal cost. The Price will be $4

6 0
3 years ago
What should be appropriate for a target market
ladessa [460]

<u>Explanation:</u>

Target market should have appropriate age, gender, lifestyle, likes, preferences, income level, education level, maturity level, marital status, occupation and ethnicity. It can also be shortly termed as appropriate demographics.

Target market is the audience to whom the product is to be sold. In order to pitch the right product to right customer target market has to be identified. Customer profiling is necessary to identify the customers interested in the products or services marketed by an organisation.

Customer base gives the details of what is needed by the customers. Organisation is benefited by only concentrating on the customers who are interested in their products or service.

4 0
3 years ago
​________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in sma
konstantin123 [22]

Intermediaries play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

When goods are produced or manufactured by producers, there will be need to make those goods available to final consumers.

The intermediaries- Wholesalers and retailers buys these goods from the producers and make them available to final consumers in small quantities.

By making the goods available to consumers, the intermediaries are playing important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

Learn more about intermediaries here : brainly.com/question/25736500

5 0
3 years ago
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