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DerKrebs [107]
3 years ago
6

Irrespective of whether a firm produces or shuts down in the short run, fixed cost is equal to its _____

Business
1 answer:
Otrada [13]3 years ago
4 0

Answer:

c. sunk cost.

Explanation:

Because in short run, fixed cost doesn't changes with output, that is whether we produce or not, we have to pay for it, so it is considered as Sunk cost. Also like Sunk cost, we don't make decisions with fixed costs.

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Sam works as a tax preparer for a local accounting office. What kind of education
Julli [10]
Bachelor degree in accounting. it makes the most sense
6 0
3 years ago
Read 2 more answers
Firms and brands that continually attempt to operate in the
Archy [21]

Answer:

B) High, low

Firms and brands that continually attempt to operate in the  <u>HIGH</u> price / <u>LOW</u>  benefits quadrant do not survive over the long run as customer  trust is Damaged.

Explanation:

Many times new products have a very short life because companies believe that they can charge very high prices because they are innovations, but they forget to provide the corresponding benefits of a very high price. Usually short living fads result from this strategy, because the customers will demand more for their money and if the product doesn't satisfy them, they wouldn't purchase it again. And with all the social networks we have today, gossip (and videos) about bad products travel extremely fast.

6 0
3 years ago
Suppose that last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively. Because of
grandymaker [24]

Answer:

Explanation:

Last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively.

The producer surplus is the difference between the minimum price that a producer is willing to accept and the price it actually gets. It can be found by calculating the area between the supply curve and the market price.

The producer surplus

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

= \frac{1}{2}\ \times\ 5\ \times\ 10

= $25

Because of strong demand this year, the equilibrium price and the quantity of good X are $12 and 7 million pounds, respectively.

The producer surplus

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

= \frac{1}{2}\ \times\ 7\ \times\ 12

= $42

5 0
2 years ago
Lena Company has provided the following data (gnore income taxes); 2016 revenues were $77,000. 2016 expenses were $48,600. Divid
Ilya [14]

Answer:

Option (b) is correct.

Explanation:

(a) Net Income:

= Revenues - Expenses

= $77,000 - $48,600

= $ 28,400

(b) Retained earnings :

= Net Income - Dividend

= $ 28,400 - $7,700

= $20,700

(c) Stockholders' Equity:

= Total assets - Total Liabilities

= 185,000 - $105,000

= $80,000

Therefore, the retained earnings at December 31, 2016 were $20,700.

5 0
3 years ago
Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the follo
Kobotan [32]

Answer:

Prime costs= $480,000

Explanation:

Giving the following information:

Grin produced 4,000 cameras with the following costs:

Direct materials $400,000

Direct labor 80,000

Manufacturing overhead 320,000

To calculate the prime costs we need to use the following formula:

Prime costs= direct material + direct labor

Prime costs= 400,000 + 80,000= $480,000

8 0
3 years ago
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