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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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City Bus Corporation provides school bus transportation to private and public schools in Lancaster County. City Bus owns 50 buse
Greeley [361]

Answer:

1. The measures that City Bus Risk Manager should take in the risk management process are as follows

Figure out the risk context: In this case, we need to find out which market City Bus is catering to and what sort of service it can provide. The risk manager will take into account what the business requirements are, what are the technical criteria for delivering this service, such as the legal regulations that City Bus has to follow.

5 0
3 years ago
When supply increases, the supply curve
MariettaO [177]

When supply increases, the supply curve  shifts to the right.

<h3>What is the supply curve?</h3>

This is the curve that is used to show the amount of goods that the producers would be able to make available for the market at a particular price. The supply curve shifts to the right when there is an increase in supply in the economy.

Hence this answers our question by saying that When supply increases, the supply curve  shifts to the right.

Read more on supply curve here: brainly.com/question/11717727

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5 0
1 year ago
Factory Overhead Rates, Entries, and Account Balance Eclipse Solar Company operates two factories. The company applies factory o
Anvisha [2.4K]

Answer:

Predetermined manufacturing overhead rate= $14.8 per machine hour

Explanation:

Giving the following information:

Factory 1

Estimated factory overhead= $18,500,000  

Estimated machine hours for year 1,250,000

T<u>o calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 18,500,000/1,250,000

Predetermined manufacturing overhead rate= $14.8 per machine hour

8 0
2 years ago
JTM Ltd incurs costs of $16 per unit ($12 variable, $4 fixed) for a widget it sells for $22. JTM has received two special offers
Mademuasel [1]

Answer:

We must analyze the potential benefits of choosing one order or the other one:

Current JTM costs:

  • $12 variable per unit
  • $4 fixed per unit

If JTM accepts Firm A's order its fixed costs will not vary and it will be able to increase its profits by: ($17 - $12) x 10,000 = $50,000

Since JTM doesn't have the capacity to fulfill Firm B's order with their current cost structure, if it decides to take it, its variable or fixed costs (we don't know which) will probably increase, so its contribution margin will no longer be $5, as with Firm A's order, but will probably be lower. We are not told by how much the costs would increase.

The third alternative is to accept Firm B's offer and not sell 2,000 units through its normal distribution channels, but that would result in an increase in profits but also loss of normal profits:

($5 x 14,000 units) - ($6 x 2,000 units for the lost normal profits) = $70,000 -  $12,000 = $58,000. If JTM is able to cancel the sale of 2,000 units, then Firm B's offer would increase its profits by $58,000, $8,000 more than Firm A's order, but it depends on its ability to cancel or not the normal sales.

3 0
3 years ago
A business function, like accounting and human resources, which moves information about people, products, and processes across t
Whitepunk [10]

Answer:

The correct answer is "management information systems"

Explanation:

The management information system (MIS) is a system of financial information, such as accounting and human resources, that provides valuable information in order to take business decisions and solve the problems of the company. The management information system generates normal reports on operations for every level of management.

8 0
3 years ago
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