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Illusion [34]
3 years ago
9

Bakers are much ___________ likely to supply pastries to the market if property rights are not enforced. In the presence of mark

et failures, public policy can improve economic efficiency. Classify the source of market failure in each case listed.
a. A manufacturing plant dumps chemical waste into a nearby river, poisoning the water supply for a small town downstream.
b. A single public utilities company is responsible for supplying electricity for an entire state. As a result, the utilities company can set the price of electricity.
Business
1 answer:
Gwar [14]3 years ago
8 0

Answer: more; externality; market power.

Explanation:

Bakers are much (more) likely to supply pastries to the market if property rights are not enforced.

a. A manufacturing plant dumps chemical waste into a nearby river, poisoning the water supply for a small town downstream. - Externality

Externality, refers to the benefit s or costs that someone else incurs based on the economic decision of another person. In this case, this is a negative externality as the small town bears the cost of the production activities of the company.

b. A single public utilities company is responsible for supplying electricity for an entire state. As a result, the utilities company can set the price of electricity - Market power

Market power is when a firm is able to dictate the price and can then raise the price. This brings about the reduction in output as well. Since the single public utilities company is responsible for supplying electricity for an entire state, the company is enjoying monopoly power or market power.

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The global environment affects all of the other environmental influences such as the economic, legal, and social environments be
Black_prince [1.1K]

Answer:

the increase in free trade among nations and technological changes have created globalization and increased competition.

Explanation:

The global environment impacts the other environment like economic, legal and social as there should be rise in the free trade that should be between the nations also there is a technological changes that developed the globalization due to which the competition should be increased

therefore the above statement is correct

3 0
3 years ago
The buyer and seller of merchandise must agree on who is responsible for paying freight terms. Show your understanding of freigh
Bas_tet [7]

Answer:

c,d and e

Explanation:

The correct statements given in the options are as stated below:

(c)-Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.

<em>This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped.</em>

(d)-When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.

<em>This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped, hence the shipping costs are the buyers responsibility and will form part of the costs of the goods</em>

(e)-Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.

<em>This is true because Free on Board destination means that the seller bears all liability whatsoever till the goods are delivered, hence the revenue for the goods can only be recognized upon successful delivery</em>

7 0
3 years ago
Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of
skelet666 [1.2K]

Answer:

Correct answer is C. $ dollars.

Calculation:

Rate of Retun PU = (21%*605,000)/58,700 = 2.16

Fixed factory overhead PU = 38,500/58,700 = 0.66

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Variable DM PU = 5.17

Variable Labour PU = 1.88

Variable FOH PU = 1.33

Variable selling and Admin PU  = 4.5

By adding all above mentioned per unit cost we get 15 dollars aprox

so

Correct answer is 15 dollar.

3 0
3 years ago
With regard to age segmentation, the tween and teenage cohort following the Millennials is sometimes called
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Answer:

<u>c.</u> Generation Z

Explanation:

7 0
3 years ago
For the year ended December​ 31, 2019, Davidson Mart had sales of​ $800,000 and cost of goods sold of​ $600,000. Davidson estima
Anit [1.1K]

Answer:

800,000/600,000=1.33

Profit percentage = 1.33-1=0.33=33%

0.02*800,000=16,000 worth of goods returned

Profit= 0.33*16,000=5280

COGS= 16,000-5280=10,720

Adjusting Entry

                                 Debit                  Credit

Goods returned         10,720

Profit                           5,280

Cash                                                    16,000

Explanation:

3 0
2 years ago
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