EXPLANATION: The MP curve is one of three related curves used in the analysis of the short-run production so basically the marginal product (MP) curve plays in key role in the economic analysis of short-run production by firm
Answer: MP curve looks like a reverse U shaped curve or are invertedly U-shaped
Answer:
Explanation:
Base on the scenario been described in the question we can calculate the following
1. Calculation of Employee’s FICA withholding for social security tax rate is 6.20%. Attachment 1 below
2.Calculation of Employee’s FICA withh... Attachment 2 below
Answer:
2) Set the price of each piece of furniture equal to the marginal cost of producing it.
Explanation:
What happens in two-part tariff is that the producer recovers the entire cost of producing by charging price equal to the marginal cost.
This helps him recover cost and the entire fee the producer charges results in profits eventually. Hence, the profits is the consumer 'surplus' that we calculate given that the price of product is equal to marginal cost.
So answer here is 2- Set the price of each piece of furniture equal to the marginal cost of producing it.
Since the company is following a periodic inventory system, it has to use temporary accounts to record sales and purchases.
Transaction A
Purchases – Dr 860500
Accounts payable 860500
Transaction B
Accounts payable - Dr $111,600
Purchase returns $111,600
Transaction C
Accounts payable - Dr 748900
Discount received 14,978
Cash 733,922
<span>The equilibrium Price.</span>
