Answer:
a. $112,000
b. $7,500
Explanation:
(a) transferred out
Units transferred out are 100% complete for both materials and conversion costs, thus multiply the Total Cost per Equivalent units with the number of units transferred.
Cost of units transferred out = $8 × 14,000 units
= $112,000
(b) in ending work in process
Units of ending work in process are 100% complete in terms of materials ( since materials are entered at the beginning of the process) whilst 25% complete in terms on conversion cost (applied uniformly during production).
Cost of ending work in process
Materials ($3 × 2,000 units) = $6,000
Conversion ($3 × (2,000 units × 25%)) = $1,500
Total Cost = $7,500
Answer:
B) inelastic; one less slave
Explanation:
Since in the question it is given that the supply curve in the Sudanese slave trade should be perfectly inelastic and every slave purchased by redeemers that determines that it should be one less slave held in captivity
Therefore in the given case it should be inelastic and one less slave
hence, the correct option is B
Also inelastic means less than one
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Answer:
The answer is: Annuity B has a smaller present value than annuity A.
Explanation:
The present value is the current value of a future cash flow. Money today is worth more than money earned tomorrow or in a year. So the sooner you receive a payment, its present value will be higher.
For this question, annuity A starts paying TODAY (higher present value), while annuity B starts paying in ONE MONTH.
Answer:
D) Providing a Lump-sum subsidy is the correct option.
Explanation:
Solution:
D) Providing a Lump-sum subsidy is the correct option.
Because:
This is done so as to compensate the consumer for the loss in welfare occurred by an increase in price per unit tax on apples.
And due to this compensating variation provided to the consumer, the consumer is now at the same real income level as before the rise of price.
And hence it helps us to capture the substitution effect. The remaining effect would be the income effect.
Hence, the option d. providing a lump-sum subsidy is the correct option.
