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Oxana [17]
3 years ago
8

Problems and Applications Q8 There are four consumers willing to pay the following amounts for haircuts, and there are four hair

cutting businesses with the following costs: Consumers' Willingness to Pay Musashi: $25 Jacques: $40 Kyoko: $35 Rina: $10 Firms' Costs Firm A: $15 Firm B: $30 Firm C: $20 Firm D: $10 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair
Business
1 answer:
romanna [79]3 years ago
8 0

Answer:

For efficiency, <u>3 haircuts</u> should be given.

Only three haircuts should be given because only 3 firms have costs that are lower than the customer whose hair they are to cut.

Firm A's cost is less than Kyoto's willingness to pay so Firm A can cut.

Firm B's cost is more than Rina's willingness to pay so Firm B should not cut.

Firm C's cost is less than Jacques's willingness to pay so Firm C can cut.

Firm D's cost is less than Musashi's willingness to pay so Firm D can cut.

That makes only 3 firms that can cut therefore 3 haircuts.

The business that should cut as shown above are:

  • Firm A
  • Firm C
  • Firm D.

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Answer:

Answer for the question:

Haskins and Jones, Attorneys-at-Law, maintains its books on a cash basis. During 2021, the law firm collected $610,000 for services rendered to its clients and paid out $425,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred service revenue, and accrued liabilities: January 1, 2021 December 31, 2021 Accounts receivable $ 75,000 $ 67,000 Prepaid insurance 5,800 7,100 Prepaid rent 10,500 9,600 Deferred service revenue 10,500 12,200 Accrued liabilities (for various expenses) 13,500 17,700 In addition, 2021 depreciation expense on office equipment is $28,500. Required: Determine accrual basis net income for 2021.

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4 years ago
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M. Cotteleer Electronics supplies microcomputer circuitry to a company that incorporates microprocessors into refrigerators and
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Answer:

The quanitity per order that minimizes the cost is 137.84 units.

Explanation:

The EOQ or economic order quantity is the quantity that should be ordered per order to minimize the cost of ordering and holding inventory. To calculate the number of units that should be ordered per order to minimize cost, we need to calculate the EOQ.

EOQ = √(2*D*O)/H

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3 years ago
In addition to earning a bachelor's degree in education, what else do teacher candidates need to do in order to be eligible for
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A. pass a series of state tests

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