You manage a company that competes in an industry that is comprised of four equal-sized firms that produce similar products. a recent industry report indicates that the market is fairly saturated, in that a 10 percent industry-wide price increase would lead to a 18 percent decline in units sold by all firms in the industry. currently, congress is considering legislation that would impose a tariff on a key input used by the industry. your best estimate is that, if the legislation passes, your marginal cost will increase by two dollars. based on this information, what price increase would you recommend if the tariff legislation is passed by congress? explain

How does the economy of cuba differ from the economy of north korea? in north korea, the government’s control of the economy has begun to loosen. in cuba, the government maintains a tight hold over the economy. in cuba, the government’s control of the economy has begun to loosen. in north korea, the government maintains a tight hold over the economy. in north korea, there is economic uncertainty in exchange for individual choice. in cuba, there is economic security in exchange for government control. in cuba, there is economic uncertainty in exchange for individual choice. in north korea, there is economic security in exchange for government control.\

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

Because the demand for wheat tends to be inelastic. true or false