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Sedaia [141]
3 years ago
11

Market failures : a) are only a concern when they result in prices that are too high. b) apply exclusively to situations where p

rivate markets do not produce any of an economically desirable good. c) result from government interference in private markets. d) result in overproduction or underproduction of a good.
Business
1 answer:
ZanzabumX [31]3 years ago
4 0

Answer:

d) result in overproduction or underproduction of a good.

Explanation:

Market failure occurs when market forces fails to allocate goods and services efficiently.

The government usually intervenes to correct market failure.

Externalities usually lead to market failure.

Positive externality is when the benefits of economic activities to third parties exceeds its cost. Research and development usually yield postive externality.

Goods that yield postive externality are usually underproduced. Government can intervene by giving subsidies and grants which encourages production.

A negative externality is when the cost of economic activities to third parties exceeds the benefit. Pollution is an example of negative externality. Goods that yield negative externality are usually overproduced. Government can intervene by taxing companies producing negative externality. This would increase the cost of production and discourage production.

I hope my answer helps you

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The path a product takes from product to final user is called what?
Anuta_ua [19.1K]

Answer:

distribution channel

Explanation:

A marketing channel consists of the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products get to the end-user, the consumer; and is also known as a distribution channel.

7 0
3 years ago
Michael owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2,
Citrus2011 [14]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Highest cost= $2,400 when the machines worked 1,000 machine hours.

Lowest cost= $2,200 when the machines worked 500 machine hours.

<u>To calculate the variable cost per unit and total fixed costs, we need to use the following formulas:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (2,400 - 2,200) / (1,000 - 500)

Variable cost per unit= $0.4 per hour

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 2,400 - (0.4*1,000)= $2,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 2,200 - (0.4*500)= $2,000

Total cost= 2,000 + 0.4x

x= machine hour

<u>Finally, the total cost for 1,200 machine hours:</u>

Total cost= 2,000 + 0.4*1,200

Total cost= $2,480

7 0
3 years ago
Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adju
PSYCHO15rus [73]

Answer:

A. $800

B. $4,800

August 1, 2019

C.$3,300

$1,500

Explanation:

(a) Calculation for what was the balance in Supplies on January 1

Balance in Supplies on January 1=$950 + $700 - $850

Balance in Supplies on January 1=$800

(b) Calculation for what was the total premium and when was the policy purchased

Total premium=($400 x 12 months)

Total premium= $4,800

Calculation for when was the policy purchased

Prepaid Insurance, 1/31 $2,400

Monthly premium $400

Number of months remaining 6

($2,400/$400)

Hence, The Policy was purchase on August 1, 2019

(c) Salary and Wages Payable at Decemeber 31, 2019 $1,500

Cash Paid $2,500

Salaries and wages payable, 1/31 $800

$3,300

Less: Salaries and wages expense $1,800

Salaries and wages payable, 12/31/19 $1,500

3 0
3 years ago
Technician A states that you should inspect tools prior to use to ensure they are in good working order. Technician B states tha
kvasek [131]

Answer:

Correct option is A.

Explanation:

As stated in general statement, precaution is better than cure.

Similarly, as per Technician A the tools has to be inspected before using them. Technician B states that the tools shall be inspected along with following the guidelines as by the manufacturers and producers.

Thus, on his part the Technician B is also right but, it can happen that there is a fault in procedure, which is not identifiable if method followed by Technician B.

Correct option is A.

8 0
3 years ago
If cost of goods manufactured is $306,790, beginning work in process inventory, $25,000, and cost to manufacture, $300,000, the
Phantasy [73]
Manufacturing overhead is consists of indirect materials, indirect labor, and other indirect costs. To solve the problem, a portion of manufacturing income statement looks like this:

Direct material -----------------------$90,000
Direct labor ---------------------------$140,000
Manufacturing overhead--------________
Total cost to manufacture         $300,000
Add: Work in process, beg       $  25,000
Less: Work in process, end      $     18,210
Cost of goods manufactures---$ 306,790

So, to solve the (?) in the above format, manufacturing overhead (MO) is derived as follows:

MO = Cost to manufacture - prime cost 
      = $300,000 - ($140,000 + $90,000)
      = $70,000

Thus, manufacturing overhead is $70,000.

8 0
3 years ago
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