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2 years ago

13

If the demand for a good falls when income falls, then the good is called a. a normal good. b. an ordinary good. c. a regular go

od. d. an inferior good.

1 answer:

vladimir1956 [14]2 years ago

6 0

Answer:

A. a normal good is the answer.

Explanation:

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If a regulatory commission imposes upon a nondiscriminating natural monopoly a price that is equal to marginal cost and below av

denpristay [2]

Answer:

The correct answer is letter "D": The firm must be subsidized or it will go bankrupt.

Explanation:

A subsidy is a benefit given to an individual, business or institution, typically by the government. Subsidies are given to promote a social good or economic policy. The government usually provides subsidies in the form of cash or tax breaks, low-rate loans, and certain types of rebates.

In the example, as the commission sets the price of the monopoly products below the average total cost, it will be translated in losses. Then, a subsidy will be necessary to be provided otherwise the company will file for bankruptcy.

3 0

3 years ago

Turner Corporation acquired two inventory items at a lump-sum cost of $100,000. The acquisition included 3,000 units of product

inessss [21]

Answer:

The amount of gross profit Turner Corporation should recognize is $20,000.

Explanation:

The following are given in the question:

Lump-sum cost = $100,000

Units of LF acquired = 3,000

Units of 1B acquired = 7,000

LF price per unit = $30

1B price per unit = $10

Unit of LF sold = 1,000

Therefore, we have:

Share of LF in the Lump-sum cost = (Units of LF acquired / (Units of LF acquired + Units of 1B acquired)) * Lump-sum cost = (3,000 / (3,000 + 7,000)) * $100,000 = $30,000

LF cost per unit = Share of LF in the Lump-sum cost / Units of LF acquired = $30,000 / 3,000 = $10

LF total revenue = Unit of LF sold * LF price per unit = 1,000 * $30 = $30,000

LF cost of goods sold = Unit of LF sold * LF cost per unit = 1,000 * $10 = $10,000

LF gross profit = LF total revenue - LF cost of goods sold = $30,000 - $10,000 = $20,000

Therefore, the amount of gross profit Turner Corporation should recognize is $20,000.

3 0

3 years ago

On February 1, 2018, Cue Company acquired 1,000 shares of its $1 par value stock for $47 per share and held these shares in trea

Drupady [299]

Answer:

The journal entries to record both transactions should be:

February 1, 2018, repurchase of 1,000 stocks at $47

Dr Treasury stocks 47,000

Cr Cash 47,000

April 10, 2019, treasury stocks were sold at $50

Dr Cash 50,000

Cr Treasury stocks 47,000

Cr Additional paid in capital 3,000

Treasury stocks account is a contra equity account with a debit balance that reduces the value of total stockholders' equity.

7 0

3 years ago

Ben & Jerry's, an ice cream manufacturer, is evaluating their strategies for days of supply. Typically, organizations with p

Phoenix [80]

Answer:

False

Explanation:

Perishable goods need to have fewer days of supply owing to their nature, as high days of supply might caause more spoilage and lead to higher inventory cost.

7 0

3 years ago

True or false: Once you are signed up for overdraft protection, you cannot opt out.

Tanya [424]

There are different kinds of draft. Once you are signed up for overdraft protection, you cannot opt out is a false statement.

<h3>Can one opt out of overdraft protection?</h3>

When a person have already signed up for overdraft protection, The person can contact the bank so as to opt out.

Here, Your debit card will be rejected once you exceed your balance, but you will not be able to be hit with overdraft fees.

learn more about overdraft from

brainly.com/question/25772671

4 0

2 years ago