Rs 1-6 (Midterm) 30 pts. 1 Saved
Jenna is 22 and makes $18,000 per year. She has made some tough trade-offs and sacrifices to ensure that she is spending less than she is earning. She has a few
discretionary dollars left each month, which she keeps in her savings account. Her parents have urged her to put some of that discretionary money into a retirement
savings plan at work, but she feels she'd rather build her savings account for a safety net and will contribute to a retirement savings plan when she is earning a
higher salary. Given this scenario
Multinle Choice

How will firms solve the problem of an economic surplus a. decrease prices to the market equilibrium price b. decrease prices so they are below the market equilibrium price c.increase prices

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.