If a monopolist's production process has economies of scale and average cost exceeds marginal cost, then the government should make the price equal to the marginal cost.
Monopolies are businesses that are dominated by few people in the industry. They have little competition from others and have high barriers to entry.
They can sometimes reduce production to increase the price of their goods and services.
The government can regulate the activities of monopolies by making their price equal to the marginal cost.
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Answer and Explanation:
The computation of the unit cost for material and conversion cost is shown below:
Material Cost per Unit is
= Total Material Cost ÷ Equivalent Units for Materials
,= ($7,700 + $66,801) ÷ (20,300 units)
= $3.67 per unit
And, the conversion cost per unit is
= (labor cost + overhead cost) ÷ equivalent units for conversion
= ($19,700 + $18,289) ÷ 18,900 units
= $2.01 per unit
He wrote a letter describing all the violence African Americans faced.
Answer:
Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.
Explanation:
The labor market is made up of employers seeking for labor and employees offering their labor services. The law of supply and demand also applies to this market, when more employers are seeking employees, the price (= salary) will increase.
For example, if many companies are making a profit and they need more labor, the salaries will rise because the demand is rising.
Also the suppliers, the potential employees, compete against each other for the best possible jobs.
Gross accounts receivable 12/31/2020= $16000/ 15% = $106,667
Accounts written off = $16000 - (- $29300) = $45,300
bad debt expense direct method = $45,300
Debt is a duty that calls for one birthday celebration, the debtor, to pay cash or another agreed-upon cost to every other party, the creditor. Debt is a deferred payment, or collection of payments, which differentiates it from a direct purchase. The debt may be owed via a sovereign kingdom or USA, nearby government, business enterprise, or person. Industrial debt is normally concerned to contractual phrases regarding the amount and timing of repayments of major and hobby. Loans, bonds, notes, and mortgages are all sorts of debt. In economic accounting, debt is a kind of financial transaction, as wonderful from fairness. The time period also can be used metaphorically to cowl moral obligations and different interactions no longer based totally on a monetary cost. For instance, in Western cultures, someone who has been helped by using a second person is occasionally said to owe a "debt of gratitude" to the second individual.
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