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Sati [7]
3 years ago
13

Economic efficiency is

Business
1 answer:
Gnoma [55]3 years ago
6 0

Answer: Option (A) is correct.

Explanation:

In a competitive market, when the demand curve i.e. the marginal benefit curve is exactly equal to the supply curve i.e. marginal cost curve and at this point the sum of consumer and producer surplus is maximized then an equilibrium is set in an economy and economic efficiency is obtained.

Inefficiency occurs at a point where there is a disequilibrium in an economy which means that competitive equilibrium is not achieved by the economy.

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An intangible asset
Alexxx [7]

Answer:

The correct answer is letter "C": does not have physical substance, yet often is very valuable.

Explanation:

Physically, intangible assets do not exist but they are important since they represent potential revenue. Types of intangible assets include brand recognition, intellectual property and legitimate patents such as patents, trademarks, and copyrights. Intangible Assets do not have value for accounting recording purposes.

3 0
3 years ago
Producer surplus is:
Elena L [17]

Answer: Option (d) is correct.

Explanation:

Producer surplus is associated with the producer of a good. Graphically, producer surplus is the area between the upper portion of supply curve and equilibrium price level. Producer surplus is also defined as the difference between the price at which sellers are willing supply and the actual price they received.

Producers surplus = Price paid by buyers - Cost of production

4 0
3 years ago
Cost of goods sold is given by:
icang [17]

Answer:

b. Net Purchases + beginning inventory - ending inventory.

Explanation:

The formula to compute the cost of goods sold is shown below:

Cost of good sold = Beginning inventory + net purchase - ending inventory

We simply added the net purchase and deduct the ending inventory to the beginning inventory so that the correct value can be determined

It records that cost which is directly related to the product that means it excludes the indirect cost

8 0
3 years ago
The body of rules and procedures that guide the measurement and communication of financial accounting information is known as?
iris [78.8K]

Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Given that there is a body of rules and procedures that guide the measurement and communication of financial accounting information.

We are required to give the name of the body that guide the measurement and communication of financial accounting information.

The body that guide the measurement and communication of financial accounting information is Generally Accepted Accounting Principles.

Generally accepted accounting principles (GAAP) basically refer to a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board . Public companies in the U.S. have to follow GAAP when their accountants compile their financial statements.

Hence Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Learn more GAAP at brainly.com/question/17895474

#SPJ4

3 0
2 years ago
A dozen eggs cost $0.96 in December 2000 and $1.82 in December 2017. The average wage for workers in private industries was $14.
pogonyaev

Answer:

the percentage in which the price of the dozen eggs rise is 89.58% or 90%

Explanation:

The computation of the percentage in which the price of the dozen eggs rise is shown below;

Percentage Change in Dozens egg price is

= (Price in 2017 - Price in 2000) ÷ Price in 2000 × 100

= ($1.82 - $0.96) ÷ $0.96 × 100

= 89.58% or 90%

Hence, the percentage in which the price of the dozen eggs rise is 89.58% or 90%

8 0
3 years ago
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