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GaryK [48]
3 years ago
14

(Consider This) In the middle ages, the French government auctioned off monopoly rights to the sale of salt. Economic theory pre

dicts that the highest bids would Multiple Choice leave substantial economic profits for the winning bidders. equal the economic profits the winning bidder would expect to earn by owning the monopoly rights to sell salt. ensure that prices remained low, making salt available to the masses. equal the winner bidder's explicit costs of selling the salt.
Business
1 answer:
ollegr [7]3 years ago
6 0
Babbabababooeeeeeeeeeee
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The Don't Bite Me Pest Control Company has 11,900 gallons of insecticide supplies on hand that cost $357,000; a bill from the ve
Nezavi [6.7K]

Answer:

$357,000

Explanation:

The stock of gallons of insecticide would be valued at the lower of cost or net realizable value.

The cost here is $357,000 when compared to net realizable amount of $819,000,the cost is lower,hence the stock of the insecticide would be shown in the balance sheet as an asset,supplies ,in the amount of $357,000

The supplies would an a current asset in the balance sheet,hence when it is used supplies would be credited while supplies expense is debited

6 0
3 years ago
Lewis Co. sold merchandise to AdCo for $48,000 and received $48,000 for that sale one month later. One week prior to receiving p
miv72 [106K]

Answer:

$45,000 revenue to be recorded

Explanation:

If the seller is purchasing the goods and service from customer at fair value of those goods, so will account for that purchase as separate transaction.

Computing overpayment as:

Overpayment = Amount paid - Fair value

where

Amount paid is $10,000

Fair value is $7,000

So,

Overpayment - $10,000 - $7,000

Overpayment = $3,000

Now,

Computing the Net revenue which should be recorded as:

Net revenue = Sale amount - Overpayment

where

Sale amount is $48,000

Overpayment is $3,000

So,

Net revenue = $48,000 - $3,000

Net revenue = $45,000

8 0
3 years ago
Consider the last purchase of two goods by a consumer. A bag of chips costs $1.75 and the marginal utility is 20. A cup of chili
Igoryamba

Answer:

The marginal utility of chili must be 28.57 for the consumer to maximize total utility.

Explanation:

The marginal utility of chili at which the consumer maximizes total utility can be calculated as follows:

Let:

CCHIP = Cost of a bag of chips = $1.75

MUCHIP = Marginal utility of a bag of chips = 20

CCHILI = Cost of a cup of chili = $2.50

MUCHILI = Marginal utility of a cup of Chili = ?

The condition for the utility maximization of the consumer is as follows:

MUCHIP / CCHIP = MUCHILI / CCHILI ……………………………. (1)

Substituting all the relevant values into equation (1) and solve for MUCHILI, we have:

20 / 1.75 = MUCHILI / 2.50

(20 / 1.75) * 2.50 = MUCHILI

MUCHILI = 28.57

Therefore, the marginal utility of chili must be 28.57 for the consumer to maximize total utility.

5 0
3 years ago
If real GDP​ increases, A. the money demand curve shifts to the right. B. there is a movement down along a stationary money dema
qaws [65]

Answer:

A. The money demand curve shifts to the right.

4 0
3 years ago
If expected return is less than required return on an​ asset, rational investors will​ ________.
DedPeter [7]
Sell the asset, which will drive down the price and cause the expected return to reach the level of the required return.
6 0
3 years ago
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