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Phantasy [73]
3 years ago
14

Which of the following is a disadvantage of government provision of a public good? A. The private sector can provide all public

goods at a lower cost. B. The government does not provide enough of any public good. C. The government lacks information about what people are willing to pay for the good. D. None of the above is a disadvantage.
Business
1 answer:
sleet_krkn [62]3 years ago
4 0

Answer: Option (C) is correct.

Explanation:

Correct option: The government lacks information about what people are willing to pay for the good.

The government have less information about the willingness to pay of the consumers. So, this creates an obstacle for the government for a efficient provision of a public good.

So, the government have no clue about the minimum that a consumer can pay, this will lead to create problem for the government.

Government don't know to whom these public goods are to be provided.

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Law of Diminishing Marginal Utility

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The Law Of Diminishing Marginal Utility states that all things being equal as consumption rises the marginal utility derived from additional unit of consumption falls.

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Volume variance    $1,320  Favorable

Explanation:

The fixed overhead volume variance is the difference between the actual and budgeted production unit multiplied by the standard fixed production overhead cost per unit.

Standard fixed overhead cost per unit = $11×6 =  116

                                                                                             Units

Budgeted     units                                                               375

Actual            units                                                              <u>395</u>

Volume variance                                                                  20

Standard fixed overhead cost                                        <u>× $66 </u>

Volume variance                                                              <u>  $1,320   Favorable</u>

                       

3 0
3 years ago
Which of the following is NOT a typical strategy for firms to obtain benchmarking data about other companies?a. Hiring former em
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a. Hiring former employees from other companies and assessing their knowledge.

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"Benchmarking" is<em> a process conducted by a company when it wants to compare its performance with other competitors.</em> In order to do this, the company needs to look into <em>specific metrics</em> and<em> </em>approaches in order to analyze their company's operation and how well it does compared to others.

Hiring former employees from other companies and assessing their knowledge is not a typical/common strategy in order to obtain benchmarking data. Not many companies would like to rehire and if they ever do, it will be hard to use the benchmarking data since the former employee's company might be totally different from yours. Remember that competitive benchmarking is only done when you want to compare with your<u> competitors in the same field of business.</u>

6 0
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