Answer: B. In the short run, the typical firm increases its output and makes an above normal profit.
Explanation:
I have attached a graph to explain.
Originally the Perfectly Competitive Market is in a long run Equilibrium.
This means that at 5000 units the $20 selling price was as a result of Marginal Revenue being equal to Marginal Cost.
Now a sudden change in Demand has taken the price up which then forces the Marginal Revenue Curve upwards.
This will culminate with the Marginal Revenue Curve now intersecting the Marginal Cost curve at a higher point being point F so that profit can be maximised.
This higher level will thus lead to a higher output than 5000 units at point Q as the firm will increase output.
Notice that at that point the Marginal Revenue is higher than Average Total Cost meaning that an Above normal profit is being made.
Do react or comment if you need any clarification.
Based on the fact that different states were involved, the matter can be heard b) both in federal court and in state court.
<h3>Jurisdiction of the case </h3>
- Texas has jurisdiction because the incident happened in Texas.
- Oklahoma might have jurisdiction because the vendor is from Oklahoma.
- The federal government also has jurisdiction because the matter involves two states and a workplace injury.
You are therefore free to pursue the matter at both federal and state level which makes option B correct.
Find out more on federal jurisdictions at brainly.com/question/3629164.
Answer: The Change of $11500 would be reported as unrealized Losses in the statement of comprehensive income
Explanation:
Debt security are recognised at their Fair Value in the Financial statements. Changes in the Fair Value are recognized in the Statement of comprehensive income as Unrealized Gains or Unrealized Losses.
The Fair Value declined from $40 000 to $28500, The loss of $11500 ($40 000 - $28500) will be reported as Unrealized Losses under OTHER INCOME in the statement of comprehensive income
Answer:
D
Explanation:
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A natural monopoly occurs due to the high start-up costs or a large economies of scale.
Natural monopolies are usually the only company providing a service in a particular region
Characteristics of natural monopolies
- they have a large fixed cost
- The firms have a low marginal cost
- They occur naturally through the free market. It does not occur by government regulation or any other force
Answer:
$227,270
Explanation:
The computation of the cost of goods completed and transferred out is shown below
Particulars Direct materials Conversion costs
Beginning inventories 0 340
(850 × 40%)
Units started
and completed 13400 13400
(15,000 - 1,600)
Ending inventories 1600 640
(1,600 × 40%)
Equivalent units 15000 14380
Current costs $155000 $83520
Cost per Equivalent unit $10.3333 $5.8081
Cost of goods completed and transferred out is
= ($5000 + $4000) + (340 × 5.8081) + 13400 × (10.3333 + 5.8081)
= $227,270
