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Sladkaya [172]
3 years ago
6

Ronnie operates a lawn-care service. On each day, the cost of mowing the first lawn is $15, the cost of mowing the second lawn i

s $25, and the cost of mowing the third lawn is $40. His producer surplus on the first three lawns of the day is $100. If Ronnie charges all customers the same price for lawn mowing, that price is
Business
1 answer:
OlgaM077 [116]3 years ago
6 0

Answer:

$60

Explanation:

The computation of price is shown below:-

Producer Surplus = Price paid by consumers - Production cost

$100 = Price - ($15 + $25 + $40)

$100 = Price - $80

Price for all = $100 + $80

= $180

Price Per consumer = Price for all ÷ First three lawns

= $180 ÷ 3

= $60

Therefore, for computing the price per consumer we simply divide first three lawn by price for all.

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Answer:

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4 0
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Charlie sells cookies only in packages of 10. It costs him $3.50 in materials per package. Additionally, he has overhead costs o
yaroslaw [1]

Let x represent the number of packages Charlie needs to sell to make a monthly income of $5, 000 
Since he sells cookies only in packages of 10 then he has to sell 10x to make that income. But Charlie has expenses that has to be deducted from his total sales to make that figure.  
So the total expenses is $1, 500 in overhead and an extra $3.50 per material per package. So the total expenses = 1500 + 3.50x 
If he has to make $5, 000 at the end of the month we have
 10x - (1500 + 3.50x) = 5000
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 Solving we find:
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5 0
3 years ago
If consumers buy less of a commodity when their incomes rise, this commodity is .
WINSTONCH [101]
The commodity is an inferior good. 

An inferior good is one for which the quantity demanded decreases when the income of the consumer increases, or one for which the quantity demanded increases when the income of the consumer decreases. In contrast, a normal good is one for which the demand increases when the consumer's income increases.
6 0
3 years ago
Evans Products uses a process costing system with two processing departments: the Mixing Department and the Finishing Department
avanturin [10]

Answer:

d. A debit to Work-in-Process Inventory, Finishing Department of $140,000.

Explanation:

Cost of unit transferred = $4 x 35,000 = $140,000

Cost incurred by mixing department is $4 which so the transfer of cost from mixing department to finishing department will be $140,000 for 35000 units. This cost will be recorded in the work in process inventory account of finishing department. As we know that WIP account has debit nature so same entry will be done to record an expense incurred in mixing department.

4 0
4 years ago
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