Answer:
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Explanation:
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Answer:
Binding
$100
200
200
Shortage
Explanation:
A price ceiling is when the government or an agency of the government sets the maximum price for a good.
A price ceiling is binding when the price ceiling is below the equilibrium price.
To find the equilibrium price, equate qs to qd because at equilibrium, quantity supplied is equal to quantity demanded.
2P = 300 - P
3P = 300
P = 100
Equilibrium price is $100.
$100 > $90. Therefore, price ceiling is binding.
To find quantity supplied, plug in the value of P into the equation for quantity supplied
QS = 2(100) = 200
To find quantity demanded, plug in the value of P into the equation for quantity demanded
QD = 300 - 100 = 200
when price is below equilibrium price, quantity demanded increases while the quantity supplied decreases. This leads to a shortage.
I hope my answer helps you
True
After bankruptsy your credit is wiped therefore in order to buy a home for example you must have a certan amount of credit so it is encourages that you build it up
Answer:
1. Direct Materials: C) Paper
2. Direct Labor: A) Artist's wages
3. Indirect materials: G) Glue for envelopes <em>(this is asuming there isn't a direct association between glue, envelopes and greeting cards - which is the case that one envelope can be used for 1 card or 2+ cards indistinctly- and/or 1 glue can be used for more than 1 envelope)</em>
4. Indirect labor: B) Wages of materials warehouse workers; E) Manufacturing plant manager's salary
5. Other manufacturing overhead: D) Depreciation on manufacturing equipment; F) Property taxes on manufacturing plant
Answer:
A) Increase $137,500
Explanation:
Calculation for how will operating income be affected
CHANGE IN OPERATING INCOME
Sales Revenue (Additional) $850,000
(250 %* 340,000)
Less Variable expenses (Additional) ($587,500)
(250 % *$ 235,000)
Contribution Margin $ 262,500
($850,000-$587,500)
Less Fixed Expenses ($76,000)
($262,500-$76,000)
Operating Income $ 186,500
( $ 262,500-$76,000)
Less Previous Operating Income ($49,000)
Operating Income $137,500 Increase
($ 186,500-$49,000)
Therefore the operating income will increase by $137,500
