Answer:
Elastic demand means there is a substantial change in quantity demanded when another economic factor changes typically the price of the good or service, whereas inelastic demand means that there is only a slight or no change in quantity demanded of the good or service when another economic factor is changed.
Explanation:
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1kvibing
Answer:
Consider the following explanation
Explanation:
Stockholder's Equity on December 31,Year 2 =Stockholder's Equity on December 31,Year 1 + Net income - Dividends + Shares Issued
Net Income = Stockholder's Equity on December 31,Year 2 - Stockholder's Equity on December 31,Year 1 + Dividends - Shares Issued
= ( $ 33,000 + $ 65,500) - $ 65,500 + $ 6000 - $ 13,500
= $ 25,500
Hence the correct answer is $ 25,500
Answer:
Total cost= $34,780
Explanation:
<u>First, we need to allocate costs to Snow Man project:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Purchasing= 380*1= 380
Storing= 2*4,000= 8,000
Machining= 100*60= 6,000
Supervision= 5*40= 200
Total allocated costs= $14,580
<u>Now, the total costs:</u>
Total cost= 19,000 + 30*40 + 14,580
Total cost= $34,780
Answer:
200 units
Explanation:
Perfect Competition are many firms selling similar products at same prices. So, constant prices imply that their marginal revenue = average revenue = price.
Monopoly is single seller of products. Their MR curve is below their AR curve. And, it is also twice steeper than AR (demand) curve, because it has double slope then that.
So, perfect competition is at equilibrium where MC = (MR = AR = P). However monopoly's optimum output is where MR = MC, & the optimal price is found by corresponding point at higher AR (demand) curve.
Given that MC curve is constant : Monopoly's output will be half perfect competition output, as per above explanation. So, if monopoly is producing 200 less than perfect competitive output. Being it half the perfect competition output, it could be producing output = 200 currently.
Answer: 13,880 units
Explanation:
Units completed and transferred = 9,800 units
Complete = 100%
Equivalent units = Units completed and transferred × 100%
= 9,800 units × 100%
= 9,800 units
Ending Work in Process inventory = 6,800 units
Complete = 60%
Equivalent units = Physical units × 60%
= 6,800 units × 60%
= 4,080 units
Therefore,
Total equivalent units = 9,800 units + 4,080 units
= 13,880 units
