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choli [55]
3 years ago
14

f the government put a price floor of $ 11.75 $11.75 on both of the markets, which market would have a greater surplus or shorta

ge? They would have the same size shortage. The market for cat food would have a bigger surplus. They would have the same size surplus. The market for cat food would have a bigger shortage. The market for snake oil would have a bigger surplus. There is not enough information to answer the question. The market for snake oil would have a bigger shortage.
Business
1 answer:
Veronika [31]3 years ago
8 0
<h3>Answer:</h3>

<u>There is not enough information to answer the question</u>

<u>Explanation:</u>

Indeed there isn't enough information to answer this question since it doesn't state details such as;

  1. The initial quantity of supply,
  2. The initial price of price products

This information are necessary to determine how price floor laws imposed by governments affect the market of commodities.

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Daniel derives utility from only two goods, cake (Qc) and donuts (Qd). The marginal utility that Daniel receives from cake (MUc)
Agata [3.3K]

Answer:

240= 3Qc + 3Qd  

Explanation:

The computation of the Daniel's budget constraint is shown below;

Given that

Daniel's income= $240

Price of cake (Pc) =$3

Price of donuts (Pd) =$3

So spending on cake = 3Qc

And,

Spending on donut= 3Qd

Finally

Total spending = 3Qc + 3Qd

Now the equation of budget constraint is

Income= (quantity of cake)(price of cake) + ( quantity of donut)(price of donut)

So,  

Income= Qc Pc+ Qd Pd

240= 3Qc + 3Qd  

4 0
2 years ago
Given the following, calculate total manufacturing costs: Direct materials: $40,000; Direct labor: $100,000; Manufacturing overh
vfiekz [6]

Answer:

cost of goods manufactured= $278,000

Explanation:

Giving the following information:

Direct materials: $40,000

Direct labor: $100,000

Manufacturing overhead applied: $120,000

Beginning Work in process inventory: $30,000

Ending Work in process inventory: $12,000

<u>To calculate the total manufacturing costs, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 30,000 + 40,000 + 100,000 + 120,000 - 12,000

cost of goods manufactured= $278,000

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3 years ago
Operating profit is essentially a measure of how efficient management is in generating revenues and controlling expenses. True F
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Answer:

true

Explanation:

Operating profit is referred to as the profit gained by the corporation in business. it is calculated by subtracting all expenses from the total profit over the given period.

it is considered to be the best way to determine how management tactics are helpful or beneficial for the organization. it helps to decide on the working policy for future goals.

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My nickname - Lovely

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