Adhika is deciding whether to open a company to produce step stools. He should start the company if he expects that: his marginal revenue will be below his average cost. the number of step stool manufacturers will soon decrease. the average cost curve will shift downward. his price will exceed his average cost.

Winston churchill's stamp collection was valued at $14 million when he died. at auction, it brought in only $4 million. what was it worth? why?

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6

If a society decides to produce consumer goods from its available resources, it is answering the basic economic question