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Elza [17]
3 years ago
11

2. At an oral auction for used car, half of all bidders have a value of $1,500 and half have a value of $1,900. What is the expe

cted winning bid if there are three bidders
Business
1 answer:
Romashka [77]3 years ago
7 0

Answer:  $1,700

Explanation:

The expected winning bid is the weighted average of the 2 different bids.

Half of the bids are for $1,500 so weight of $1,500 is 0.5.

Half of the bids are for $1,900 so weight of $1,900 is 0.5.

Expected Winning bid = (1,500 * 0.5) + ( 1,900 * 0.5)

= 750 + 950

= $1,700

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Match the example with the business structure that makes sense for it. To match the items, click the example, and then click the
Kazeer [188]

Answer:

Doug and Vanessa- partnership

Esperanza- sole partnership

Robyn- c corporation

Cuba- s corporation or LLC

Ming- nonprofit corporation

I hope this helps someone!!

7 0
3 years ago
The equilibrium price of a good in market A is $24. The current price of the good in market A is $21. At this price, a(n) ______
qwelly [4]

Answer:

Excess supply as well as excess demand in market A

Explanation:

Equilibrium price is the price of the market, where the quantity of the goods supplied will be equal to the quantity of the goods demanded by the customers. The equilibrium price is determined by the intersect of the demand and the supply curve.

When the equilibrium price is $24, but the current price is $21, so, at this price, there would be supply and the demand in excess for the customers of the goods exist in the market A.

7 0
3 years ago
TB MC Qu. 08-104 Marlow Company purchased a point of... Marlow Company purchased a point of sale system on January 1 for $3,400.
Fittoniya [83]

Answer:

$680

Explanation:

Calculation to determine What would be the depreciation expense for the first year of its useful life using the double-declining-balance method

Depreciation expense=3400*(100%/10 * 2)

Depreciation expense=3400*.2

Depreciation expense= 680

Therefore What would be the depreciation expense for the first year of its useful life using the double-declining-balance method is $680

3 0
2 years ago
The financial statements of Georgi Manufacturing Company report net sales of $595,000and accounts receivable of $80,000 and $60,
Elena-2011 [213]

Answer:

43 days

Explanation:

The first step is to calculate the account receivable turnover

= $595,000/($80,000+$60,000)/2

= 595,000/140,000/2

= 595,000/70,000

= 8.5

Therefore the average collection period can be calculated as follows

= 365 /8.5

= 42.9

= 43 days

7 0
2 years ago
A formula is a math equation used in a spreadsheet....... true or false
lisabon 2012 [21]
True, you can use a formula in Excel spreadsheet!
6 0
3 years ago
Read 2 more answers
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