Answer: for one more unit of good x traded-off , an additional unit of good y can be produced.
Explanation: The production possibilities frontier is graphed as a curve with one of the commodities is shown on the x-axis, while the other is shown on the y-axis. The curve is made up of points at which the two commodities are being produced in different amounts, most efficiently using the limited resources that they require with keeping the production factor and technology the same for both commodities. A production possibility curve or frontier represents different values of two good that an economy can produce ,keeping the production factor and the technology constant .
The slope of production possibility curve shows the opportunity cost I.e how much of good y has to be given up in order to produce an extra unit of good x . If the production possibility curve is a straight line , it means that the slope is constant I.e to produce an extra unit of good x , there’s constant opportunity cost of good y to be given up .
Answer:
Administrative costs allocated to Mixing: $96,000;
Administrative costs allocated to Bottling: $64,000.
Explanation:
Total number of employees = Number of employees in Mixing + Number of employees in Bottling = 300 + 200 = 500 employees.
Number of administrative cost allocation per 01 employees = 160,000 / 500 = $320 per employees.
Administrative costs allocated to Mixing = Number of administrative cost allocation per 01 employees x Number of Employees in Mixing = 320 x 300 = $96,000
Administrative costs allocated to Bottling = Number of administrative cost allocation per 01 employees x Number of Employees in Bottling = 320 x 200 = $64,000.
Answer:
Lucky Enterprises Income statement
Amount in $ Amount in $
Revenue 122,100
Operating expenses:
Salaries and Wages Expense 83,300
Rent Expense 22,400
Supplies Expense 5,500
Insurance Expense 3,700
Interest Expense 800
Bad Debt Expense 900
Depreciation Expense <u> 2,100</u>
<u> </u><u>(118,700
)</u><u> </u>
Net Income/(loss) <u> </u><u>3,400</u><u> </u>
Explanation:
The income statement is the statement that shows if an organization made a net income or loss from its operations over a period of time.
It shows the sales and expenses of the organization.
The Christmas tree farm would respond by:
- In the short run, producers are going to earn profits and also increase their supply of the product.
This is what usually happens whenever there is an increase in the prices of goods in the supply side of the market.
As the prices would go up, the producers would want to take advantage of the increases to make as much gain as they can from the market.
This is only short term profit. Therefore the supply is going to be inelastic. The demand is only going to available for a short while.
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