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3 years ago

The marginal seller is the seller who

Business

1 answer:

trapecia [35]3 years ago

3 0

Answer:

b. would leave the market first if the price were any lower.

Explanation:

In the market, the producer always sells more than the economic cost ( raw materials and labor cost) that he bears during production. The marginal seller means that the seller earns zero economic profit ( producer surplus) i.e. an economic cost equals the selling price. So if the price falls then the marginal seller would leave the market first because he will be indifferent when earns the zero economic profit but when the price falls he would leave the market.

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The model of competitive markets relies on these three core assumptions:

Karolina [17]

Answer:

B. No, no free entry

Explanation:

With a patent granted to one pharmaceutical company to produce and sell an experimental AIDs drug, all doors of free entry and exit have been locked against other pharmaceutical companies. This implies that one of the major ideals of a competitive market is violated. Without free entry and exit, there cannot be many sellers, and we cannot discuss about the possibility of firms producing identical products because there is only one drug.

4 0

3 years ago

Fogelberg Company purchased equipment for $12,000. Sales tax on the purchase was $600. Other costs incurred were freight charges

Step2247 [10]

Answer : The correct option is, (d) $13,110.00

Explanation : Given,

Price when company purchased equipment = $12000

Sales tax price = $600

Freight charges = $240

Damage charges = $420

Installation costs = $270

Now we have to determine the total cost of the equipment.

Total cost of the equipment = Purchased price + Sales tax price + Freight charges + Installation costs

Total cost of the equipment = $12000 + $600 + $240 + $270

Total cost of the equipment = $13110.00

Thus, the total cost of the equipment is, $13110.00

5 0

3 years ago

Which interest group is an example of a public interest group?.

iogann1982 [59]

Answer:

NAACP

Explanation:

An interest group is a group of individuals who have common policy goals and work together to accomplish those goals through the political process. Interest groups seek their objectives in a variety of venues. Interest groups, unlike political parties, do not field their own slate of candidates. Furthermore, interest groups are frequently policy experts, whereas parties are policy generalists. Environmental (Sierra Club), consumer advocacy (Public Citizen), and civil rights organizations are examples of public interest groups (NAACP). Public interest groups, sometimes known as citizen groups, address issues that have nothing to do with the individuals' professions. Public interest organizations have developed since the 1960s to combat government regulation of individual conduct. Despite the fact that public interest groups dominate private interest groups, private interests hire the great majority of lobbyists on Capitol Hill.

4 0

2 years ago

Kramer company started its production operations on August 1st. During August, the printing Department completed 17,600 units. T

Dima020 [189]

Answer:

Costs of goods transferred out is $ 785,840

Value of ending inventory is $26,268

Explanation:

The equivalent units of material cost is computed thus:

Completed units 17600*100% =17,600

Ending inventory 4,400*80% =3,520

Equivalent units 21,120

material unit cost =Accumulated materials cost/equivalent units

material unit cost=$45,408/21,120

=$2.15

Equivalent units of conversion cost is calculated thus:

Completed units 17,600*100%= 17,600

Ending inventory 4,400*10% = 440

Equivalent units 18,040

Conversion unit cost=Conversion costs/equivalent units

=$766,700/18,040

=$42.5

Cost of goods transferred out:

Material costs 17,600*100%*$2.15 =$37,840

Conversion costs 17,600*100%*$42.5 =$ 748,000

Total costs $ 785,840

Costs of ending inventory:

Material costs 4,400*80%*$2.15 = $7,568

Conversion costs 4,400*10%*$42.5 =$18,700

Total cost $26,268

7 0

4 years ago

Under its executive stock option plan, National Corporation granted 15 million options on January 1, 2021, that permit executive

IrinaK [193]

Answer:

Compensation expense for 2022 and 2023 are $12 million and $16 million respectively.

Explanation:

Total compensation expenses = Number of options × Option fair of value = 15 million × $4 = $60 million

Number of years the option is allowed to be exercised = January 1, 2021 to December 31, 2023 = 3 years

Annual compensation expenses = Total compensation expenses ÷ Number of years the option is allowed to be exercised = $60 million ÷ 3 = $20 million

That shows that $20 million is recognized as compensation expenses in 2021.

As there is a 20% forfeiture of the options due to an unexpected turnover, total compensation expenses reduces to:

New total compensation expenses = $60 million × (100% - 20%) = $48 million

Accumulated expenses in 2022 = ($48 million ÷ 3) × 2 = $32 million

Compensation expenses recognized in 2022 = Accumulated expenses in 2022 - Compensation expenses already recognized in 2021 = $32 million - $20 million = $12 million

Compensation expenses recognized in 2023 = $48 million ÷ 3 = $16 million

Therefore, compensation expense for 2022 and 2023 are $12 million and $16 million respectively.

5 0

3 years ago