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Utility cost is a mixed cost with both fixed and variable components. using the highlow method, the cost formula for utility cos

777dan777 [17]

Based on the question, a table was found to supplement the needed data.

Problem: Found the utility cost

Given:
Based on the given table Units Utility Cost

High-Level Activity $8,000 $8,000
Low-level Activity $5000 $1,500

Mathematical Operation: multiplication, addition, subtraction and division

Solution: Variable cost per unit (VSU), Change in Cost (CC), Cost in Activity (CA), Fixed Cost (FC), Variable Cost Element (VCE), Total Cost (TC) High-Level Activity Unit (HLAU)

VCU= CC÷ CA
= $1,500 ÷ 3,000 units
= $0.50 per unit
Fixed cost = TC- (VCE [VCUx HLAU])
= $8,000 - ($0.50 per unit × 8,000 units)
= $8,000 - $4,000
 = $4,000

The Choices are:
A.Y = $1.00 X
B.Y = $1.25 X
C.Y = $4,000 + $0.50 X
D.Y = $1,500 + $1.25 X

The answer is A.

7 0

4 years ago

Calculate the average and marginal tax rates in the following table. (Hint: Enter your answers as decimals and do not round when

Zigmanuir [339]

Answer:

1. a. Average Tax rate = 130/2,000 = 6.5%

Marginal Tax Rate = (130 - 0)/ (2,000 - 0) = 6.5%

b. Average Tax rate = 650/10,000 = 6.5%

Marginal Tax Rate = $\frac{650-130}{10,000-2,000}$ = 6.5%

c. Average Tax rate = 1,300/20,000 = 6.5%

Marginal Tax Rate = $\frac{1,300-650}{20,000-10,000}$ = 6.5%

d. Average Tax rate = 6,500/100,000 = 6.5%

Marginal Tax Rate = $\frac{6,500-1,300}{100,000-20,000}$ = 6.5%

2. The tax rates shown in this table are: Proportional

Proportional Taxes take the same percentage of income across all income groups.

3. A. True

4. Sean and Bob would both vote yes as the Marginal Benefit of the project exceeds their marginal cost but project will not be funded in the end as the Total Marginal Cost exceeds Total Marginal benefit. Sean and Bob may want to pay but Yvette will not.

5. If this same project were taking place in the private sector, a firm would not fund the project.

6. In private markets, decisions to provide goods or services to the market are generally made if marginal benefits exceed marginal costs

7. As a result, governments may approve projects whose costs exceed their benefits.

3 0

3 years ago

Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selec

tatyana61 [14]

Answer:

C) Yes: The one-week measures show demand is elastic, so a price increase will reduce revenues.

Explanation:

The error that the Manager did was to under-estimate the principles of elasticity of demand that posits that increase in price is inversely proprtional to demand. Perhaps, she also overrated the quality of their services without given thoughts to the presence of competition and customers’ decisions in a competitive market.

The survey carried out was a proof of the fact that price increase had an inverse effect on the demand for the services, as was shown by the rate of decline in the number of customers who enrolled in Verizon's cellular plans especially in those states where they had the best of customers’ loyalty.

7 0

3 years ago

Read 2 more answers

What is the effect on market when suppliers under invest in their businesses

yanalaym [24]

Answer:

Low supply
Scarcity
Low economic growth

Explanation:

When suppliers under invest in their business, they will end up having the capacity to only produce less than the market requires. Should this happen, supply will be reduced in the market which would lead to relative scarcity all else being equal.

For economic growth to happen, there must be increasing production in an economy so if suppliers are under investing and production is low, there might be low or no economic growth.

8 0

3 years ago

The supply curve for a good will be more elastic if: spending on the good accounts for a large share of a consumer's income. the

Andrei [34K]

The supply curve for a good will be more elastic if "production inputs are readily available at a relatively low cost".

Option: C

Explanation:

The graphical interpretation is applied to understand the concept of supply curve for any good available in market. This is done by correlating the cost of a good or service and the supplied amount during a given period. In such representation the cost is mentioned vertically on the left axis, while the amount supplied is mentioned horizontally.

The coverage of responsiveness with respect to variations in cost of demand or supply products is understood as elasticity. Here when the small variations in cost leads to the large variations in consumed amount of product, thus curve become more elastic. While if a curve is found less elastic, which showcase that their is large variations in the price to impact a change in consumed amount.

5 0

4 years ago