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3 years ago

Define the role of the mathematical concepts of maximization and equilibrium in microeconomic theory.

Business

1 answer:

labwork [276]3 years ago

8 0

Answer:

Functions and graphs are two mathematical concepts that are heavily used in microeconomics.

Explanation:

1. Functions

Economics is full of functions: manufacturing functions, distribution functions, parameter values, components for welfare programs, and so on. A function is indeed a connexion between several sets of data, such that the second set correlates exactly to one variable for each value in one collection.

2. Graphs

By visualising it in a graph we can enhance the innate knowledge of a practices and organisational performance. In a chart, independent variable effects are generally read off the horizontal axis, and the dependent variable effects are generally read off another vertical axis. And for variables, each position in the line matrix correlates to a set of variables

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Three categories of activities (operating, investing, and financing) generate or use the cash flow in a company. In the followin

Marat540 [252]

Answer:

a. Yum Co. uses cash to repurchase 10% of its common stock. (Financing activity)

b. DigiInk Printing Co. buys new machinery to ramp up its production capacity. (Investing activity)

c. D and W Co. sells its last season’s inventory to a discount store. (Operating activity)

d. A company records a loss of $70,000 on the sale of its outdated inventory. (Operating activity)

Explanation:

Cash flow statement shows how cash is used and obtained in a business. There are different activities that influence cash flow. Below are the activities:

- Operating activities are those that include normal business operations like buying and selling of inventory, interest payments, and salaries.

- Investing activities involves use of cash for investment like purchase or sale of assets, merger and acquisitions payments, and purchase of equipment.

- Financing activities includes cash used to purchase or sell equity such as shares, payment of dividends, and repayment of principal from debt

3 0

3 years ago

Fleming Company has the following cumulative taxable temporary differences: 12/31/18 12/31/17 $1,600,000 $2,250,000 The tax rate

jeyben [28]

Answer:

Pretax financial income is $3,350,000.00

Explanation:

Fleming's pretax financial income is the taxable income for 2018 plus the increase in cumulative taxable temporary difference in 2018.

Taxable income is $4,000,000

Difference in cumulative taxable difference=$1,600,000-$2,250,000

=-$650,000

pretax financial income=$4,000,000+(-$650,000)

=$4,000,000-$650,000

=$ 3,350,000.00

The pretax financial income for year 2018 is $3,350,000.00

7 0

3 years ago

In an automobile company, the vice president of research and development wants to plan and coordinate the launch of a new car wi

nikdorinn [45]

Answer

Hi,

This type of communication could be interpersonal communication or formal communication

Explanation

Interpersonal communication occurs in company when it is done between two or more individuals at a workplace. For this case, the communication was between the vice president of research and development and the vice president of marketing. This could also be a formal communication where a hierarchy at the workplace is followed because the two vice presidents from different departments first talked before involving junior staff members. In this case, the two vice presidents are communicating formally with each other to get work done.

Welcome!

4 0

3 years ago

Road Gripper Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and fac

Nezavi [6.7K]

Answer:

Answer is explained in the explanation section below.

Explanation:

Solution:

In part a, we need to find the following 3 requirements:

1. Direct Materials Price Variance

2. Direct Materials Quantity Variance

3. Total Direct Materials Cost Variance

Direct Materials Price Variance:

It can be calculated by using the following formula:

DMPV = AQ multiplied by (AP minus the SP)

Where,

DMPV = Direct Materials Price Variance

AQ = Actual Quantity

AP = Actual Price

SP = Standard Price

We do have all the data, so just plug in the values into the above equation to get the DMPV.

AQ = 101,000

AP = 6.50 USD

SP = 6.40 USD

So,

DMPV = 101,000 ( 6.50 - 6.40)

DMPV = 10,100 USD

Direct Materials Quantity Variance:

DMQV = SP ( AQ - SQ )

Where,

DMQV = Direct Materials Quantity Variance = ?

SP = Standard Price = 6.40 USD

AQ = Actual Quantity = 101,000

SQ = Standard Quantity = 100,000

Plugging in the values:

DMQV = 6.40 ( 101,000 - 100,000)

DMQV = 6400 USD

Total Direct Materials Cost Variance:

DMCV = SMC - AMC

Where,

DMCV = Direct Materials Cost Variance = ?

SMC = Standard Market Cost = 6.40 USD x 100,000

AMC = Actual market Cost = 6.50 USD x 101,000

DMCV = (6.40 USD x 100,000) - (6.50 USD x 101,000)

DMCV = 640,000 - 656,500

DMCV = 16,500 USD

For part b, we need following particulars:

1. Direct Labor Rate Variance (DLRV)

2. Direct Labor Time Variance (DLTV)

3. Direct Labor Cost Variance (DLCV)

Direct Labor Rate Variance (DLRV) :

DLRV = (ADLR - SDLR) x ADLH

Where,

ADLR = Actual Direct Labor Rate = 15.40 USD

SDLR = Standard Direct Labor Rate = 15.75 USD

ADLH = Actual Direct Labor Hour = 2000

So,

DLRV = (ADLR - SDLR) x ADLH

DLRV = (15.40 USD - 15.75 USD ) x 2000

DLRV = 700 USD

Direct Labor Time Variance (DLTV):

DLTV = ( ADLH - SDLH ) x SDLR

SDLH = Standard Direct Labor Hour = 2080

DLTV = ( 2000 - 2080 ) x 15.75 USD

DLTV = 1260 USD

Direct Labor Cost Variance (DLCV)

DLCV = SDLC - ADLC

SDLC = Standard Direct Labor Cost

ADLC = Actual Direct Labor Cost

DLCV = (1540 x 2000) - (15.75 x 2080)

DLCV = 1960 USD

For Part c, we need following:

1. variable factory overhead controllable variance (VFOCV)

2. fixed factory overhead volume variance (FFOVV)

3. Total factory overhead cost variance (TFOCV)

variable factory overhead controllable variance (VFOCV):

VFOCV = AFO - B

Where,

AFO = Actual Factory Overhead = 8200

B = Budgeted Allowance Based on Standard Hours Allowed = 4160x0.5x4

B = 8320 USD

VFOCV = 8200 - 8320

VFOCV = 120 USD

fixed factory overhead volume variance (FFOVV) :

FFOVV = (S - BH ) x SOR

Where,

S = Standard Hours for actual output = 4160 x 0.5

BH = Budgeted Hours = 2080

SOR = Standard Overhead Rate = 6 USD

FFOVV = (4160 x 0.5 - 2080) x 6

FFOVV = 0 USD

Total factory overhead cost variance (TFOCV):

TFOCV = AFO - SO

Where,

AFO = Actual Factory Overhead = 20,200

SO = Standard Overhead = 2080 x 10

TFOCV = 20,200 - ( 2080 x 10 )

TFOCV = 600 USD

7 0

3 years ago

Maria, a banking executive, gives a job candidate a detailed interview and a walking tour of the facility. By sharing her time

Elis [28]

Answer:

Yes

Explanation:

Maria is giving a non-verbal message for his possible selection for the job by allowing him a tour of the facility and taking a detailed interview.

3 0

3 years ago