Modern technology is simply an advancement of old technology, the impact of technology in modern life is unmeasurable, we use technology in different ways and sometimes the way we implement various technologies ends up harming our lives or the society we leave in.
1) Town of Bayport:
We have that the residents value the fireworks at
a total of 50+100+300=450$. That is the utility they gain. But they
would also have to pay 360$ for the fireworks. The total outcome is
450$+(-360$)=90$. Hence, the outcome is positive and the fireworks pass
the cost benefit analysis.
If the fireworks' cost is to be split
equally, we have that each of the 3 residents has to pay 360/3=120$. Let
us now do the cost-benefit analysis for everyone.
Jacques stands to gain 50$ from the fireworks but would have to pay 120$. He will vote against it.
Also, Kyoko will gain 100$ but would have to pay 120$. He will lose utility/money from this so he will vote against.
Musashi on the other hand, would gain 300$ and only pay 120$. He is largely benefitted by this measure. Only he would
We have that 2 out of the 3 would vote against the fireworks, so that the fireworks will not be bought. The vote does not yield the same answer as the benefit-cost analysis.
2) Town of River Heights:
We have that the total value of the fireworks to the community
is 20+140+160=320$. The total value of the fireworks is lower than
their cost so their cost benefit analysis yields that they should not be
bought.
However, let's see what each resident says. The cost to each resident is 360/3=120$. Rina is against the fireworks since she will only gain 20$. Sean and Yvette are for the fireworks since they gain 140$ and 160$ respectively, which are larger than the cost of the fireworks to each of them (120$). Hence, 2 will vote for the fireworks and one will vote against and fireworks will be bought.
Again, the vote clashes with the cost-benefit analysis.
3) The first choice is wrong. It is very difficult for a government to provide the exact types of public goods that everyone wants because that would be too costly; one cannot have a public good that everyone pays for so that only a couple of people enjoy it. In our example, we saw that in every case, a public good and its production would have sime supporters and some adversaries.
Majority rule is not always the most efficient way to decide public goods; as we have seen in the second case, the cost-benefit analysis yields that the fireworks are not worth it but they are approved by the majority nonetheless.
The final sentence is correct. The differing preferences of the people make a clearcut choice impossible and the government has to take into account various tradeoffs and compromises in order to determine which public goods to provide.
First of all Life Insurance. So if something happens to you then you’re family won’t suffer. The of course Accident Insurance and Automobile Insurance. The basics like that
Answer: Increase the treasury stock account and decrease the cash account by $36,000.
Explanation:
The journal entries that would be used to record the purchase of treasury stock will be to increase the treasury stock account and decrease the cash account by $36,000.
Note that the $36000 was calculated as:
= 1,000 shares × $36 per share
= $36,000
Answer: 1. $70,000
2. $202,000
3. $20,000
4. $69,000
5. $10,000
Explanation:
1. What is the total cost of research and development of the value chain?
The answer is $70,000. This is the salaries of research scientists that we have been given in the question. Salaries of research scientist is part of the total cost of research and development of the value chain.
2. What is the total cost for the production category of the value chain?
This can be gotten by adding the value of the assembly line workers wages, the caps for milk bottle, the depreciation on factory equipments and the plastic milk bottles. This will be:
= $72000 + $3000 + $75000 + $52000
= $202,000
3. What is the total cost for the distribution category of the value chain?
This can be seen in the question provided as delivery expenses is $20,000.
4. What is the total cost for the marketing category of the value chain?
This will be the salaries of the salespeople and the customer toll free order line. This will be:
= 63000 + 6000
= $69000
5. What is the total cost for the customer service category of the value chain?
The total cost for the customer service category of the value chain will be the value of the customer support hotline which is $10,000.