Figure 4.3 represents the domestic market for gasoline in the United States. What is the consumer surplus in this market?
a. 60 gallons of gasoline
b. $120
c. $60
d. $3
c. $60
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The most common approach to pay differentials is to move an employee lower in the pay structure to compensate for higher living costs.
Answer the following statement true (T) or false (F)
At the end of the day, the cash register tape shows $1060 in cash sales, but the count of cash in the register is $1085. The proper entry to account for this excess is:
A. Debit Cash $1085; credit Sales $1085. B. Debit Cash $1060; debit Cash Over and Short for $25; credit Sales $1085. C. Debit Cash $1085; credit Sales $1060; credit Cash Over and Short $25. D. Debit Cash Over and Short $25; credit Cash $25. E. Debit Cash $1060; credit Sales $1060.
d. giving employees decision-making authority
a. The same control system or level of empowerment should be imposed on all employees. b. Specific workplace criteria should not be imposed between an employee and the chance at empowerment. c. Employees that do not want to be empowered should be forced into it. d. Not all employees should be provided with the opportunity to be empowered.
Greg owns a small business of selling athletic equipment to retailers. He spends $12,500 annually on transportation. His annual fixed cost is $19,000. His other annual expenses total $4,000. His annual sales are $130,000 and the cost of the goods he sells is $65,000. Calculate Greg's direct costs and his break-point point.
What will be an ideal response?