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KATRIN_1 [288]
4 years ago
11

Economic efficiency in a free market occurs when

Business
1 answer:
Diano4ka-milaya [45]4 years ago
6 0

Answer: Economic efficiency in a free market occurs when C) the sum of consumer surplus and producer surplus is maximized.

Explanation: Economic efficiency happens when resources are distributed in a way that allows for the least amount of waste so that there is little inefficiency. When all items are maximized, there is little waste happening and therefor the economic has achieved economic efficiency.

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Help Please T^T Use the drop-down menu to select the qualification best demonstrated in each example.
Alex

Answer: attention to details

Explanation:

4 0
3 years ago
Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct professional labor hours. Overhead was esti
Vikki [24]

Answer:

The firm's overhead was $1,000 under-applied

Explanation:

For computing the firm overhead amount, first, we have to compute the predetermined overhead rate. The formula is shown below:

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

= $150,000 ÷ 15,000 hours

= $10

Now we have to find the actual overhead which equal to

= Actual direct labor-hours × predetermined overhead rate

= 14,500 hours × $10

= $145,000

So, the firm overhead equals to

= Actual manufacturing overhead - actual overhead

= $146,000 - $145,000

= $1,000 under-applied

5 0
4 years ago
What ethical issues are faced by public managers who deal with contractors and with regulations of private-sector activities
tino4ka555 [31]

Answer:

Some of these ethical issues are

1. Wages or incentives

2. Discrimination among employees

3. Issues on health and safety of employees

4. And other internal issues that may come up in the company or organization.

Explanation:

While dealing with contractors, a public manager is likely to have the issues above with contractors so he has to learn to tolerate and must also not show any form of discrimination against any employee or show any preferential treatment to any selected worker. He has to employ tact's when dealing with contractors as well as when he is dealing with his employees.

5 0
4 years ago
Which of the following changes would bring the U.S. capital stock, currently below the Golden Rule level, closer to the steady-s
Vlada [557]

Answer:

The answer is increasing the saving rate

Explanation:

Increasing the saving rate.

4 0
3 years ago
Briefly explain whether each of the following is primarily a microeconomic issue or a macroeconomic issue.
BigorU [14]

Answer: Micro; Macro; Macro; Micro.

Explanation:

Economics is divided into two main segments which are microeconomics and macroeconomics. It should be noted that microeconomics deals with study of individuals and the firms while macroeconomics studies the while economy and looks at decisions that are made by governments and countries.

a. The effect of higher cigarette taxes on the quantity of cigarettes sold.

This is a microeconomic issue as one entity is being discussed which is cigarette and the issue is related to just one particular industry.

b. The effect of higher income taxes on the total amount of consumer spending.

This is a macroeconomic issue as taxes affects the whole economy. The whole nation is affected by this decision.

c. The reasons for the economies of East Asian countries growing faster than the economies of sub-Saharan African countries.

This is a macroeconomic issue as it relates to different countries.

d. The reasons for low rates of profit in the airline industry.

This is a microeconomic issue as the issue affects just the airline industry.

5 0
4 years ago
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