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2 years ago

82) At the current price of $2, how much does the firm want to produce?

Business

1 answer:

Sedbober [7]2 years ago

5 0

Answer:

84) The equilibrium is the only price where quantity demanded is equal to quantity supplied. At a price above equilibrium, like 1.8 dollars, quantity supplied exceeds the quantity demanded, so there is excess supply.

85) The equilibrium price and quantity are where the two curves intersect. The equilibrium point shows the price point where the quantity that the producers are willing to supply equals the quantity that the consumers are willing to purchase. This is the ideal quantity to supply

86) The existence of economic profits attracts entry, economic losses lead to exit, and in long-run equilibrium, firms in a perfectly competitive industry will earn zero economic profit.

87) The industry is in long-run equilibrium when a price is reached at which all firms are in equilibrium (producing at the minimum point of their LAC curve and making just normal profits). Under these conditions there is no further entry or exit of firms in the industry, given the technology and factor prices.

Explanation:

i dont know 82 or 83 sorry

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Motorcycle Manufacturers, Inc., projected sales of 54,500 machines for the year. The estimated January 1 inventory is 6,860 unit

MrRa [10]

Answer:

55,060 machines

Explanation:

Projected sales = 54,500

Estimated opening balance = 6,860

Desired ending balance = 7,420

Budgeted production = ?

Let the budgeted production be B

Using the formula

Opening balance + Budgeted production - Sales = Closing balance

6,860 + B - 54,500 = 7,420

B = 7,420 + 54,500 - 6,860

B = 55,060

The budgeted production for the year is 55,060 machines.

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2 years ago

Pasadena Candle Inc. projected sales of 37,000 candles for January. The estimated January 1 inventory is 1,900 units, and the de

Vsevolod [243]

Answer:

Explanation:

The preparation of the production budget report in units for Pasadena Candle Inc. is shown below:

Projected sales 37,000

Add: Desired January 31 inventory 4,000

Available units 41,000

Less: Estimated January 1 inventory -$1,900

Units produced $39,100

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2 years ago

During March, Pendergraph Corporation incurred $65,000 of actual Manufacturing Overhead costs. During the same period, the Manuf

Yanka [14]

Answer: Credit to manufacturing overhead of $67000.

Explanation:

The journal entry to record the application of Manufacturing Overhead to Work in Process would be:

Debit Work in Progress $67000

Credit Manufacturing overhead $67000.

( To record the application of manufacturing overhead to work in process).

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2 years ago

In a perfectly competitive market, the market supply curve is a. always a horizontal line. b. the vertical sum of all the indivi

gayaneshka [121]

Answer: C.) Horizontal sum of all the individual firm's supply curve

Explanation: A perfectly competitive market, is that in which sellers or suppliers of a certain product are numerous such that a slight increase in price, and demand could fall to 0. Here, an individual seller has no control over the price of commodities. The supply curve tells how much quantity will be produced at different prices. Therefore the market supply curve is determined by all individual sellers individual price in other to determine the overall quantity to be produced at varying market price. Prices are drawn horizontally from the y-axis to determine quantity produced at different prices for each indivudual seller which is summed to generate the market supply curve.

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3 years ago

Read 2 more answers

Examples of transaction costs include (check all that apply): A. the cost of the externality. B. the cost of monitoring an agr

Paha777 [63]

Answer:

The correct answer is option B, C, and E.

Explanation:

Transaction cost refers to the cost incurred on resources and time necessary for facilitating exchange of goods and services.

Among the given options, the examples of transaction cost is cost of monitoring an agreement, the cost of drafting a contract or agreement, and the time required to negotiate an agreement.

All these costs are incurred in order to facilitate exchange of goods and services.

The problem of externalities can have efficient private solution if these transaction costs are low otherwise the governement has to intervene to efficiently allocate resources.

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2 years ago