Question 2/2 100% + 3. You are hired as a consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be maximizing profit? If not, what should it do to increase profit? If the firm is maximizing profit, is the market in a long-run equilibrium? If not, what will happen to restore long-run equilibrium? a. P< MC, P > ATC b. P> MC, P < ATC c. P= MC, P > ATC d. P> MC, P = ATC I.

Assume that the government decreases its spending on discretionary budget programs. All else constant, how will the change in national income affect U.S. demand for imported goods and thus the value of the dollar? Demand for imports will be unchanged; the dollar will appreciate. Demand for imports will decrease; the dollar will depreciate. Demand for imports will decrease; the dollar will appreciate. Demand for imports will increase; the dollar will depreciate. Demand for imports will increase; the dollar will appreciate.

A solution is tested with the four indicator solutions shown in the attached colour chart. The following results are obtained: Thymol blue turns yellow. Methyl orange turns yellow. Methyl red turns orange. • Bromothymol blue turns yellow. What is the estimated pH of the solution? Thymol blue red 1,2 - 2,8 yellow 8.0-9,6 blue Methyl orange red 3,0 - 4,6 yellow Methyl red red 4,2 - 6,3 yellow Bromothymol blue yellow 6,0 - 7,8 blue 2 3 4 10 11 12 pH A. 4.3 В. 8.0 C. 5.3 D. 2.8

The following equations describe the variation of pressure p with veloci 0 p + A og V-2 = X (i) p + B g pv = Y (iii) p + CPV 2 = Z where, A, B, and C are dimensionless constants. X, Y, and Z are values with the same dimensions as pressure, g is the acceleration due to gravity, p is the density of the liquid, and o is the surface tension of the liquid. Which equations are dimensionally homogeneous? 2:33 PM

solve using Buckingham-pi Theorem 8-19. The force of buoyancy F is a function of the volume +of a body and the specific weight y of the fluid. Determine how F is related to ť and y.

The table below shows the monthly cost of producing vintage model cars for collectors for quantities O, 100, 200, and 500. Complete the table by filling in the average fixed cost, average variable cost, and average total cost. Instructions: Round your answers to 2 decimal places. Average Fixed Cost (dollars) Average Variable Cost (dollars) Average Total Cost (dollars) Vintage Model Car Production Costs Total Fixed Total Variable Output Cost (dollars) Cost (dollars) 0 $1,500 $0 100 1,500 600 200 1,500 1,100 500 1,500 4,150 Total Cost (dollars) $1,500 2,100 2,600 5,650

Assume that in October 2022 the Schmidt Machinery Company (Exhibit 14.1) manufactured and sold 990 units for $705 each. During this month, the company incurred $415,800 total variable costs and $180,400 total fixed costs. The master budget data for the month are as given in Exhibit 14.1. Required: 1. Prepare a flexible budget for the production and sale of 990 units. 2. Compute for October 2022: a. The sales volume variance, in terms of operating income. Indicate whether this variance was favorable or unfavorable. b. The sales volume variance, in terms of contribution margin. Indicate whether this variance was favorable or unfavorable. 3. Compute for October 2022: a. The total flexible budget variance. Indicate whether this variance was favorable or unfavorable. b. The total variable cost flexible budget variance. Indicate whether this variance was favorable or unfavorable. c. The total fixed cost flexible budget variance. Indicate whether this variance was favorable or unfavorable. d. The selling price variance. Indicate whether this variance was favorable or unfavorable. Comparison of Actual and Budgeted Operating Income SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2022 (1) Actual Operating Income (2) Master Budget (3) Variances Units 780 1,000 220 U* Sales $ 639,600 100% $ 800,000 100% Variable costs 350,950 55 450,000 56 $ 160,400 U 99,050 F** $ 61,350 U 10,650 U Contribution margin 45% 44% $ 288,650 160,650*** $ 350,000 150,000+ Fixed costs 25 19 Operating income $ 128,000 20% $ 200,000 25% $ 72,000 U *U denotes an unfavorable effect on operating income. **F denotes a favorable effect on operating income. ***Actual fixed factory overhead cost = $130,650; actual fixed selling and administrative costs = $30,000. Budgeted fixed factory overhead cost = $120,000; budgeted fixed selling and administrative costs = $30,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a flexible budget for the production and sale of 990 units. Units sold ales Fixed costs Variable costs Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute for October 2022: a. The sales volume variance, in terms of operating income. Indicate whether this variance was favorable or unfavorable. b. The sales volume variance, in terms of contribution margin. Indicate whether this variance was favorable or unfavorable. Show less A Sales Volume Variance Operating income Contribution margin < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute for October 2022: a. The total flexible budget variance. Indicate whether this variance was favorable or unfavorable. b. The total variable cost flexible budget variance. Indicate whether this variance was favorable or unfavorable. c. The total fixed cost flexible budget variance. Indicate whether this variance was favorable or unfavorable. d. The selling price variance. Indicate whether this variance was favorable or unfavorable. Show less a. The total flexible budget variance b. The total variable cost flexible budget variance c. The total fixed cost flexible budget variance d. The selling price variance < Required 2 Required 3