Answer:
a. price ceiling, binding
b, price floor non binding
price ceiling, binding
c. price ceiling, non binding
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.
If price were set below equilibrium price (the price floor is non-binding) there would be shortages as quantity demanded would exceed quantity supplied
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Effects of a binding price ceiling
1. It leads to shortages
2. it leads to the development of black markets
3. it prevents producers from raising price beyond a certain price
4. It lowers the price consumers pay for a product. This increases consumer surplus
Answer:
Wexpro, Inc. gains $11500 (59500-48000) by processing further X15. It is a financial advantage to compete with a more complex product. X15 should be processed further.
Explanation:
Wexpro, Inc., produces several products from processing 1 ton of clypton, a rare mineral.
Material and processing costs total $60,000 per ton, one-fourth of which is allocated to product X15.
60000*0,25=$15000
Seven thousand units of product X15 are produced from each ton of clypton. The units can be sold at the split-off point for $9 each.
<u>Sales before split-off point: </u>
<u />
Sales 7000u*$9= $63000
Material and processing cost= $15000
Total=$48000
The units can be processed further at a total cost of $9,500 and then sold for $12 each.
<u>Sales after split-off point:</u>
Sales= 7000*12=$84000
Split-off cost= $9500
Material and processing cost= $15000
Total= $59500
Wexpro, Inc. gains $11500 (59500-48000) by processing further X15. It is a financial advantage to compete with a more complex product. X15 should be processed further.
Answer:
employed workers and persons who are officially unemployed
Explanation:
The labor force is the force that involves the labors who are employed and the unemployed i.e. officially
In an equation, it can be
Labor force = Employed workers + unemployed workers
It is a combination of both the employed and the unemployed workers
hence, the correct option is third
Therefore all the other options are wrong as they do not meet the criteria of the labor force
Answer:
Total= $113,190
Explanation:
Giving the following information:
Boone Co.'s sales, based on experience, are 20% cash and 80% credit.
Credit sales are typically collected as follows:
40% in the month of sale
50% in the month after the sale
10% in the second month.
Sales:
On account December= 64,500 - 21,000= 43,500
Cash January= 107,000
Cash February= 127,000
We need to calculate the cash collected in February:
Cash collection:
From December= 43,500*0.1= 4,350
From January= (107,000*0.8)*0.5= 42,800
Cash From February= (127,000*0.2)= 25,400
On account February= (127,000*0.8)*0.4= 40,640
Total= $113,190
According to the VRIO framework, to fully exploit the competitive potential of its resources, capabilities, and competencies, a firm must be organized to capture value.
A resource is useful if it enables a company to take advantage of an outside opportunity or counteract an outside threat.
The VRIO framework is an internal examination that aids companies in discovering the benefits and assets that offer them a competitive edge. The acronym for the many success metrics that apply to your organization is the VRIO framework. Value, rarity, copyability, and organization are all included.
Learn more about VRIO framework at brainly.com/question/26286846
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