Producers/firms are most commonly connected to

A. price.

B. supply.

C. demand.

D. opportunity cost.

Management and a labor union are bargaining over how much of a $50 surplus to give to the union. The $50 is divisible up to one cent. The players have one shot to reach an agreement.

What is the correct answer Even when competitive firms are unable to calculate marginal revenue product directly, A) will push wage rates toward the marginal revenue product of labor.

Explain why voluntary transactions improve social welfare. What happens if transactions are forced? Can consumers get more or less happiness (holding their income/wealth constant) if they are forced intotransactions they don't want versus being able

When signing up for a new checking account you answer "No" and opt out of overdraft protection. On this day, you have $10 in your account and go out and use your debit card to buy lunch for $12, a movie ticket for $12 and dinner for $15.

A movie theater estimates that for each $0.50 increase in ticket price, the number of tickets sold decreases by 60. The current ticket price of $16.50 yields 1800 tickets sold. Set up an equation to represent the daily revenue.

Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $256,080 of total manufacturing overhead for an estimated activity level of 13,200 direct

A corporation has 44,904 shares of $26 par value stock outstanding that has a current market value of $238 per share. If the corporation issues a 5-for-1 stock split, determine the number of shares outstanding. Select the correct answer.

A tire manufacturer produces 400 tires valued at $20 each. Three hundred tires are sold to a tire shop, which then sells them to households for $50 each. The remaining tires are unsold and are added to the tire manufacturer’s inventory.

Cunningham, Inc. sells MP3 players for $60 each. Variable costs are $40 per unit, andfixed costs total $60,000. How many MP3 players must Cunningham sell to earn netincome of $140,000?

Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations: a. A firm with total revenues of $150 million, explicit costs of $90 million, and implicit costs of $40 million b.