Answer:
Explanation:
Last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively.
The producer surplus is the difference between the minimum price that a producer is willing to accept and the price it actually gets. It can be found by calculating the area between the supply curve and the market price.
The producer surplus
= 
= 
= 
= $25
Because of strong demand this year, the equilibrium price and the quantity of good X are $12 and 7 million pounds, respectively.
The producer surplus
= 
= 
= 
= $42
The 2018 journal entries for Milani<span> related to its investment in </span>Seida<span> are its share in net income and share in dividends. The investment in considered as investment in associate since there is already the significant influence in </span>Seida. These are the journal entries:
<span>Investment in </span>Seida 12,0000
<span> Share in net income of </span>Seida<span> ($30,000 x 40%) 12,000</span>
#
Cash ($110,000 x 40%) 44,000
<span> Investment in </span>Seida 44,000<span> </span>
<span> #</span>
Answer:
A.
Explanation:
In a perfectly competitive market, buyers and sellers are free (by definition) to enter or leave the market as they choose.
That is, individuals are neither forced into nor prevented from engaging in a certain business, provided they have the expertise and the financial resources required.
A perfectly competitive market has the following characteristics:
-There are many buyers.
-There are many sellers. Firms can freely enter or exit the market. All sellers sell the same or similar products. It means that the goods offered by the various sellers are largely the same.
-Firms can freely enter or exit the market.
Answer:
The average fixed cost to produce 7,000 can openers was <u>$17,000</u>
Explanation:
The fixed cost are those who don't change based on the production levels, while the variable costs depends on the production.
If we add variables cost with fixed cot we will get the total cost.
Variable cost + Fixed Cost = Total cost
Then for knowing the fixed cost we should substract to the total cost the variable cost
Fixed Cost = Total Cost - Variable Cost <em>Now replace the values </em>
Fixed Cost = $45,000 - 28,000
Fixed Cost = $ 17,000
The average fixed cost to produce 7,000 can openers was <u>$17,000</u>