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taurus [48]
3 years ago
12

A new per unit subsidy for almond production in the United States increases the world supply of almonds. If almonds are inelasti

cally demanded, what will happen to total revenues from almond production?
Business
1 answer:
grin007 [14]3 years ago
5 0

Answer:

total revenues would fall

Explanation:

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one. If demand is inelastic, there would be little or no change in the quantity demanded.

Due to the subsidy, there would be an increase in supply.

The increase in supply would lead to excess supply and a fall in price. Since demand is not sensitive to price. there would be no change in demand as a result of the fall in price.

Thus, price would be lower and quantity would remain the same. This would lead to a fall in price.

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Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and
Leni [432]

Answer: Please find answers in explanation column

Explanation:

To record flow of cost of raw materials

     Account                                               Debit           Credit  

1) Work in process-Refining department $385,000  

            Raw           Materials                                            $385,000

To record flow of  labour cost

Account                                                         Debit           Credit  

2) Work in process-Refining department    $143,000  

          Wages payable                                $143,000

To record applied factory overhead

Account                                                           Debit           Credit  

3) Work in process-Refining department    $99,000  

factory overhead-refining department                             $99,000  

Entry to record the transfer of production costs to the second department, Sifting.

Account                                                    Debit           Credit  

4) Work in process-Sifting department $626,800  

Work in process-Refining department                           $626,800

calculation

Beginning work in process +   raw material + wages payable + factory overhead - ending work in process

$29,600 + $385,000+ $143,000 +$99,000 - $29,800   =$626,800

6 0
3 years ago
The preemptive right is important to shareholders because it a. protects bondholders, and thus enables the firm to issue debt wi
Rom4ik [11]

Answer:

b. protects the current shareholders against a dilution of their ownership interests.

Explanation:

Shares are ownership interests that are owned by business owners and measures the degree to which an individual has a stake in a company.

Preemtive right occurs when a shareholder has a right to purchase a particular portion of newly issued shares.

For example if an individual has 40,000 shares and additional 250,000 shares are issued, he can have the right to purchase an additional 30,000 of the new shares.

The preemtive right prevents dilution of ownership interests by ensuring old stockholders have a stake in newly issued shares.

7 0
3 years ago
What is the best strategy to avoid paying interest on your credit cards?
lord [1]

c pay the miminum balance each month

8 0
3 years ago
Read 2 more answers
Complete the Transaction Worksheet: On the form provided, identify the accounts affected by each transaction and the amount of i
antiseptic1488 [7]

Answer:

I used an excel spreadsheet because there is not enough room here.

Explanation:

Download pdf
6 0
3 years ago
2. Skip and Peggy are brother and sister and they fight about everything. Skip says that perfectly competitive firms maximize pr
finlep [7]

Answer: They are both right.

Explanation:

Firms in every market will always maximise profit where their Marginal Revenue equals Marginal Cost because at this point, resources are being fully utilized. This is therefore no different in a Perfectly competitive market so Skip is correct.

Peggy is also correct however because in a Perfectly Competitive market, the demand curve is perfectly elastic. This creates a situation where the Price, Marginal Revenue and Average Revenue are all the same and represent the demand curve as well.

With the Price being the same as the Marginal Revenue in a Perfectly competitive firm, that means that where the Price equals Marginal Cost is where the Marginal Revenue equals Marginal Cost as well so indeed perfectly competitive firms maximize profit where price equals marginal cost.

5 0
3 years ago
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