I think the most appropriate answer would be D. As other answers has nothing to do with this question.
I hope it helped you!
Answer:
Equivalent unit of conversion = Unit completed and transferred out+Ending WIP*Percent completion
= 15000+(3000*75%)
Equivalent unit of conversion = 17250
Total cost of conversion cost = 4500+32450+18710 = 55660
Cost per equivalent unit of conversion Cost = Total Cost/Equivalent unit = 55660/17250 = 3.23
Answer:
A
B
C
Explanation:
A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.
Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives
A person should specialise in the production of goods for which they have a comparative advantage. this maximises total output
Calvin has a comparative advantage in making decals because he is faster compared to Hobbes. He should specialise in making decals.
Hobbes has a comparative advantage in making shirts because he is faster compared to Calvin. He should specialise in making shirts
Answer:
c. a pure monopoly.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
For example, a public power company is an example of a monopoly because they serve as the only source of power utility provider to the general public in a society.
Additionally, a public power company refers to a company that provides power (electricity) utility to the general public of a society.
Hence, a market that has a single supplier of a product with no close substitutes and barriers to entry is a pure monopoly.
