Which of these are direct materials Sandpaper and other like kind items of minor cost used in production Finished goods Identifiable items that become part of a product The item that costs the most used in making a product
Q: Question A Please answer the following step by step: Calculating the future value given an initial…
A: We are given the following information:Initial investment (present value): $6,500Period: 3…
Q: What is the opportunity cost to Joe Blow of rejecting that offer
A: Opportunity cost refers to the value of the next best alternative that must be given up in order to…
Q: 3.) Todd is a farmer who grows corn. He consumes corn himself but he also sells it at the local…
A: Todd has farm of corn , and the produce is used for both income and consumption purposes.Price of…
Q: A firm is technically insolvent when: Multiple Choice it files the legal forms petitioning for…
A: Insolvency refers to the state of financial distress in which a person or business is unable to pay…
Q: 1. Please compare and contrast the implementation of central planning (especially in…
A: Since you've posted multiple independent questions, according to our guidelines, only the first…
Q: Fill in the price and the total, marginal, and average revenue Vesoro earns when it produces 0, 1,…
A: The concepts of supply and demand have significance in determining how markets function. These…
Q: Adam Smith's 'invisible hand' refers to: O the control that large firms have over the economy. O how…
A: The "invisible hand" is a metaphorical concept introduced by economist Adam Smith in his book "The…
Q: Use the following information to answer the next question. The following items describe the…
A: Discouraged unemployment occurs when a person fails to find suitable job after searching for it,…
Q: A company's cost (in dollars) of producing its product can be modeled by the function C(x) =…
A: In economics the breakeven point refers to a point where the revenue and cost are equal. At this…
Q: Use the concept of diminishing marginal utility to explain the slope of a demand function.
A: DISCLAIMER “Since you have asked multiple questions, we will solve the first question for you. If…
Q: For each policy listed, identify whether it is a command-and-control policy (regulation), tradable…
A: It can be defined as a form of tax which is imposed by the government of that nation on such…
Q: Consider an economy that has a labor endowment of L= 40 units. The production functions are x -…
A: Production possibility frontier shows different combination of two good or services that can be…
Q: Scooter's Scooters is a large American manufacturer of electric scooters operating out of Mesa.…
A: Economies of scale is when the increase in output decreases the average total cost. Diseconomies of…
Q: Which factors need to be balanced in creating an effective diversity and inclusion strategy? What…
A: Creating an effective diversity and inclusion strategy requires a multifaceted approach, balancing…
Q: In an industry, the minimum efficient scale is reached when a firm produces 500 units of output at…
A: The long-run average cost (LRAC) curve is a graphical illustration of the average cost per unit of…
Q: @ e . ECONOMIC REGULATIONS Investments in transportation infrastructure (modal & intermodal) PHINMA…
A: Economic regulators are the rules that can create hindrances for new businesses to enter the market.…
Q: What is the producer surplus at P=12 (b) What is the producer surplus at P=20 © What is the producer…
A: We have given the following diagram Producer surplus is the difference between market price and…
Q: In the Solow growth model of an economy with population growth but no technological change, if…
A: The Solow Growth Model, also known as the Solow-Swan Growth Model, is a neoclassical economic model…
Q: When plan a demand curve for crush tomatoes, what is assumed to be constant according to ceteris…
A: ‘Ceteris paribus (c.p.)" is a Latin phrase that translates to "all other things being equal" or…
Q: A concert promoter has been selling 280 T-shirts on average at performances for $17 each. They…
A: Demand refers to the quantity of a good or service that consumers are willing and able to purchase…
Q: Correctly match each component of the basic circular flow model with its answer.
A: Circular flow of income shows unending flow of goods,services and money from firms to households and…
Q: Changes in supply plans for existing inputs affect aggregate quantity supplied. Select one: True…
A: Aggregate supply refers to the total production of goods and services that businesses in an economy…
Q: Brian and Edison are considering contributing toward the creation of a public park. Each can choose…
A: Public goods are goods or services that are non-excludable and non-rivalrous, meaning they are…
Q: The value of production in an economy is $24.08 trillion. If production increases by 1.65% then what…
A: The "value of production" refers to the total economic worth of goods and services produced within a…
Q: Consider the market for electric cars. Suppose that a electric car manufacturing facility dumps…
A: Supply refers to the quantity that a producer wishes to sell at a given price in given period of…
Q: What criteria are important when companies look to invest in a country? Select all that apply.…
A: An investment is the commitment of money, time, or exertion into something with the assumption for…
Q: Consider a market in which the demand curve is given by P = 310 - 3Q, and the supply curve is given…
A: Equilibrium is a condition where market clears, quantity demanded is equal to quantity supplied.
Q: Regulation Versus Tradable Permits Determine the total cost of eliminating six units of pollution…
A: Two methods of pollution control measures are taken into consideration :1) Government regulation2)…
Q: Consider a firm in the DC that sells it output to a retailer in the FC. To hedge the FX risk the DC…
A: FX risk is a prevalent issue for businesses operating internationally. Currency exchange rate…
Q: Required a) Using expected values as the basis of your decision, advise the theatre b) Prepare a…
A: a) Using expected values as the basis of your decision, advise the theatre:The expected value is…
Q: Differences in nominal GDP between years can be due to either price changes or quantity changes.…
A: By definition, Nominal GDP = Current year's price * Current year quantity
Q: You use a dataset with 538 observations to run a simple linear regression. You find that the…
A: To find :
Q: If a firm operates in a demand-driven market, then it should expect to face: a. Slow technological…
A: Demand describes the quantity of a good or service that consumers are willing and able to purchase…
Q: Which statement is false? Select one: a. If consumers and businesses both increase spending,…
A: Consumer spending is the expenditure incurred on the purchase of goods and services produced by the…
Q: Mr.Samuel wants to get $10 millions in the future by saving $4 millions from now. By data, bank with…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: Suppose that supply and demand for a certain commodity are described by the supply curve,…
A: Demand curve is the downward sloping curve. Supply curve is the upward sloping curve. Equilibrium is…
Q: 4. Specialization and trade When a country has a comparative advantage in the production of a good,…
A: Comparative advantage is a way to measure one's efficiency in a good compared to other good. It is…
Q: Which of the following is a labor resource?
A: Which of the following is a labor resource?a. silicon (sand) used to make computer chipsb. a…
Q: Consider an economy that has a labor endowment of L = 40 units. The production functions are x =…
A: Labor endowment in the economy: L=40 unitsThe production function of good x: The production…
Q: About 100 million pounds of jelly beans are consumed in the U. S. each year, and the price has been…
A: Price support refers to a government intervention strategy aimed at maintaining the price of a…
Q: PROBLEM (5) Cars (x) is a normal good, and public transportation (y) is a substitute for cars. The…
A: "As stated by the client, I am providing answer to only part D". Car is a normal good and public…
Q: A company is considering an investment (at time= 0) in a machine that produces large plastic boxes.…
A: Net Present Value (NPV) is a financial concept used in capital budgeting and investment analysis to…
Q: A constant cost perfectly competitive market is in long run equilibrium. At present, there are 1,000…
A: Perfect competition is a market arrangement in which there is zero rivalry between the various…
Q: Q10. If you invest 600 at year zera then that same amount more every subsequent year, letting it…
A: The future value of an annuity is a financial concept that represents the total value of a series of…
Q: The graph shows Spain's demand for oranges and the supply of oranges by growers in Spain. The world…
A: Equilibrium in the market occurs at the intersection of demand and supply curves where quantity…
Q: The following graph shows the economy's aggregate demand curve. Show the impact of the increase in…
A: Investors should expect a higher interest rate or premium on assets with long-term maturities that…
Q: Imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The table…
A: Supply refers to the quantity of a good or service that a seller is willing and able to sell at a…
Q: You are paying a series of five constant-dollar (or real-dollar) uniform payments of $2,025.95…
A: The principle of present worth has significance in economics due to the fact that it enables one to…
Q: The economy is characterized by the consumption function C = C(Y − T) = 500 + 0.75 (Y − T). If…
A: Consumption function is the sum of autonomous consumption and induced consumption.Autonomous…
Q: 1. If an individual consumer faced the following utility function: U(X,Y) = 2X² + Y³, where X, Y >…
A: A utility function is a mathematical function that maps a bunch of goods or services to a number…
Which of these are direct materials
Sandpaper and other like kind items of minor cost used in production
Finished goods
Identifiable items that become part of a product
The item that costs the most used in making a product
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Concert Opportunity Cost 2 You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. Recently, you saw that StubHub was listing similar seats for $225 apiece. What does it cost you to attend the concert?EXAMPLE 1.2 Consider the following data of a company for the year 1997:Sales = $ 1,20,000Fixed cost = $ 25,000Variable cost = $ 45,000Find the following:(a) ContributionDesign a process chart for printing a short documenton a laser printer at an office. Unknown to you, the printerin the hallway is out of paper. The paper is located in a supplyroom at the other end of the hall. You wish to make five stapledcopies of the document once it is prin ted. The copier, located nextto the printer, has a sorter but no stapler. How could you makethe task more efficient with the existing equipment?
- This does not solve for the Present Worth of CostsYou are scheduling production of your popular Rustic Coffee Table. The table requires a top, fourlegs, 1/8 gallon of stain, 1/16 gallon of glue, 2 short braces between the legs and 2 long bracesbetween the legs, and a brass cap that goes on the bottom of each leg. You have 100 gallons ofglue in inventory, but none of the other components. All items except the brass caps, stain, andglue are ordered on a lot-for-lot basis. The caps are purchased in quantities of 1,000, stain and glueby the gallon. Lead time is 1 day for each item. a) Schedule the order releases necessary to produce 640 coffee tables on days 5 and 6, and128 on days 7 and 8. (See Appendix A1.) I need answer in appendix A1 MRP form Please take note of this !!!For manufacturing Pepsi product in Oman, write the details of direct cost as: Material, labour and expences required for manufactring the Pepsi product with thier cost in Omani Rial.
- Bianca, a small oil producer is talking to her chief engineer, Pete, about repairs and upgrades to an oil well. Pete: “...additional upgrades on the well would cost $5,000 but would allow increased production and revenue of more than $10,000 per year.” Bianca: “I already spent $20,000 on this well, it is a money pit; we should not spend anymore on it.” Based on the information given, what is the sunk cost? Group of answer choices Only type writing allow....don't use pepar work then I will give u down thamb ?Cassie's Quilts alters, reconstructs and restores heirloom quilts. Cassie has just spent $800 purchasing, cleaning and reconstructing an antique quilt which she expects to sell for $1,500 once she is finished. After having spent $800, Cassie discovers that she would need some special period fabric that would cost her $200 in material and time in order to complete the task. Alternatively, she can sell the quilt "as is" now for $900. What should she do? She should cut her losses and sell the quilt now. It does not matter what she does; she is going to take a loss on her project. She should purchase the period fabric, complete the task and then sell the quilt. She should not do anymore work on the quilt because she has already spent too much time on it and has not been paid for that timeA publishing company sells 400,000 copies of certain books each year. It costs the company $1 to store each book for a year. Each time it must print additional copies, it costs the company$500 to set up the presses. How many books should the company produce during each printing in order to minimize its total storage and setup costs? (a) The company should producen______books each printing in order to minimize costs.
- Metters Cabinets, Inc., needs to choose a productionmethod for its new office shelf, the Maxistand. To help accomplishthis, the firm has gathered the following production cost data: PROCESS TYPE ANNUALIZEDFIXED COST OFPLANT & EQUIP. VARIABLE COSTS (PER UNIT) ($)LABOR MATERIAL ENERGY MassCustomization $1,260,000 30 18 12Intermittent $1,000,000 24 26 20Repetitive $1,625,000 28 15 12Continuous $1,960,000 25 15 10Metters Cabinets projects an annual demand of 24,000 units forthe Maxistand. The Maxistand will sell for $120 per unit. a) Which process type will maximize the annual profit from pro-ducing the Maxistand? b) What is the value of this annual profit?Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the price of the output is $1, how many units of output should the firm produce to maximize profit? What is the firm’s profit level?Units of fixed input K Labor Hours (L) Output (Q) TFC TVC TC AFC AVC ATC MC 3 0 0 90 0 90 0 0 0 0 3 1 4 90 20 110 22.5 5 27.5 5 3 2 90 90 40 130 1 0.444 1.444 0.233 3 3 160 90 60 150 0.563 0.375 0.938 0.286 3 4 200 90 80 170 0.45 0.400 0.85 0.5 3 5 230 90 100 190 0.391 0.435 0.826 0.667 3 6 250 90 120 210 0.36 0.480 0.84 1 3 7 260 90 140 230 0.346 0.538 0.885 2 3 8 265 90 160 250 0.340 0.604 0.943 4 If the firm produces 265 units of output and sells it at $1 per unit, is it making profits or losses? How much are they making?
