Suppose a monopoly concrete contractor builds 20 driveways per month for $10,000 each. In order to increase sales to 21 driveways, the contractor must lower the price of driveways to $9,500. The marginal revenue of the 21st driveway is
Answers
Answer: Marginal revenue is -$500.
Explanation: The marginal revenue is calculated as the change in total revenue subtracted by the change in quantity.
Total revenue is calculated by multiplying the price by the quantity:
At a quantity of 20 driveways, the total revenue is = 20 × $10,000 = $200,000
At a quantity of 21 driveways, the total revenue is = 21 × $9,500 = $199,500
Marginal revenue = $199,500 - $200,000
= -$500
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Hi, can somebody please help me?
Answers
Answer:
Equity theory
Explanation:
Equity theory as proposed by John Stacey Adam argues that employees becomes dissatisfied, disgruntled and discouraged when they feel their input into a company does not commensurate with their output in form of salaries, benefit, job security, reputation, recognition, and others. The theory argues that the employees will tend to reduce their inputs and may even become disruptive in their input activities. To circumvent this, the theory argues that employers of labour must find equitable balance between the employees input and their output. This, he belief, when perceived by the employees brings contentment to the employees.
Answers
Answer:
Market economy
Explanation:
There are three predominant economic system; market economy, command economy and mixed economy.
- In Market economy individuals and firms are free to make their own choices. There is no regulatory authority that is monitoring the system. Firms can produce whatever they want and sell it at whatever price they desire. This idea of free market was first suggested by economist Adam Smith. Firms will only manufacture goods that market demands, even if they are dangerous to the society e.g. cannabis and LSD. If the demand exists and firms can make profit, they will produce it regardless of its impact on the society.
- Command economy is heavily monitored by government. Government decide what to produce, how much to product and for whom to produce. The price is fix for every product. For example, if the price of cheese is set at $10 per pound, everyone will get it for $10. There is no concept of private ownership and everything is owned by the government.
- Mixed economy, also known as traditional economy is a combination of above two types. There is private as well as public ownership. Firms can produce goods, but they will follow laws and regulations (firms can't make and sell LSD to teenagers). The government provide healthcare, education and protect consumers from private institutions.
The question deals with a situation where there is no government intervention. The firms are free to make their own production, distribution and pricing decisions. Hence, it’s a market economy.
b. $70,000
c. $200,000
d. $0.
Answers
Answer:
b. $70,000
Explanation:
Economic profit is the difference between the total revenue received by a business and the total implicit and explicit costs of a firm.
Economic profit = Total revenue - (Implicit costs + Explicit costs)
Economic profit = $400,000 - $200,000 - $130,000 = $70000
Therefore Lashondra's economic profit is equal to $70000.
Answer:
b. $70,000
Explanation:
Let's assume she took the offer of $130000
Her explicit costs were $200,000
Profit = cost - revenue
Profit = 200000 - 130000
Profit = $70,000
ACCT 163 - Office Equipment
Debit - 8,000
d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
WHAT IS THE JOURNAL ENTRY FOR D & E????? I have the correct accounts, I just can't figure out the amounts....
d Depreciation expense—Computer equipment
Accumulated depreciation—Computer equipment
e Depreciation expense—Office equipment
Accumulated depreciation—Office equipment
Answers
d. The depreciation expense-computer equipment will be debited, and accumulated depreciation will be credited with $5,600.
e. The depreciation expenses-office equipment will be debited, and accumulated depreciation will be credited with $1,600.
Further Explanation:
Depreciation:
Depreciation refers to the allocation of the cost of the physical asset over the useful life of the asset. The depreciation is a non-cash expense of the business. The value of the asset decreases as the business uses the asset for the operating activities. The normal wear and tear in the value of the asset are recorded as the depreciation. The depreciation can be calculated as follows:
Journal entry for the depreciation of computer system and office equipment:
The depreciation expense-computer equipment will be debited, and accumulated depreciation will be credited with $5,600.
The depreciation expenses-office equipment will be debited, and accumulated depreciation will be credited with $1,600.
Working notes:
Calculate the annual deprecation for computer depreciation:
Calculate the annual depreciation on office equipment:
Learn More:
- Learn more about journal entry of petty cash bookbrainly.com/question/10708516
- Learn more about the production of the goods brainly.com/question/9356259
- Learn more about the inventory accuracybrainly.com/question/11383142
Answer Details:
Grade: Middle school
Chapter: Depreciation
Subject: Accounting
Keywords: computer, system, acquired, October, expected, have, four-year, life, salvage, value, office, equipment, acquired, October 1, five-year life, no, salvage value.
Final answer:
The journal entries to record depreciation expense for computer equipment and office equipment acquired on October 1 are $1,400 for computer equipment and $400 for office equipment, corresponding to three months of depreciation in the first year.
Explanation:
The journal entry to record depreciation for both computer equipment and office equipment on October 1 should include the depreciation expense for the first year of use and the corresponding accumulated depreciation for each asset. To calculate the depreciation expense for the computer system with a cost of $22,400 and a 4-year life, divide the initial cost by the number of years to find the annual depreciation, which is $5,600 (22,400 ÷ 4). Since the equipment was acquired on October 1, only 3 months of depreciation should be recorded for the current year. Therefore, the depreciation expense for the three months is $5,600 ÷ 12 months x 3 months = $1,400.
The office equipment with a cost of $8,000 and a 5-year life, would have an annual depreciation of $1,600 (8,000 ÷ 5). Similarly, only 3 months' worth is considered for the first year, giving a depreciation expense of $1,600 ÷ 12 months x 3 months = $400.
The journal entries would look like this:
- Depreciation expense—Computer equipment $1,400
- Accumulated depreciation—Computer equipment $1,400
- Depreciation expense—Office equipment $400
- Accumulated depreciation—Office equipment $400
Learn more about Depreciation Journal Entry here:
#SPJ3
Answers
Answer:
The correct answer is C
Explanation:
Longminuslived assets are those assets which are termed as the long term assets, and its example are property, plant, land, building, furniture and fixtures.
Cash flow statement is the financial statement which provides the total data in relation to all the cash inflows receives from its ongoing operations of the company and external sources of the investment. The statement also involves the cash outflows which is paid for the business investments and activities during a period.
So, the transaction which is not involved in the statement is the disposing of the assets for the no cash proceeds.