Suppose that a simple society has an economy with only one resource, labor. labor can be used to produce only two commoditieslong dashx, a necessity good (food), and y, a luxury good (music and merriment). suppose that the labor force consists of 100 workers. one laborer can produce either 5 units of necessity per month (by hunting and gathering) or 10 units of luxury per month (by writing songs, playing the guitar, dancing, and so on).a. on a graph, draw the economy axis ppf. where does the ppf intersect the y-axis? where does it intersect the x-axis? what meaning do those points have? b. suppose the economy produced at a point inside the ppf. give at least two reasons why this could occur. what could be done to move the economy to a point on the ppf? c. suppose you succeeded in lifting your economy to a point on its ppf. what point would you choose? how might your small society decide the point at which it wanted to be? d. once you have chosen a point on the ppf, you still need to decide how your society axis's production will be divided. if you were a dictator, how would you decide? what would happen if you left product distribution to the free market?

When someone buys a fourth television for his or her house, what is the result? a. there's a decrease in the marginal utility of the television. b. the increase in demand brings leads to higher prices for televisions. c. the production of televisions becomes more efficient. d. there's a rise in the opportunity cost of buying other goods.

Zachary company produces commercial gardening equipment. since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. the costs and cost drivers associated with the four overhead activity cost pools follow: activities unit level batch level product level facility level cost $ 64,800 $ 27,730 $ 15,000 $ 154,000 cost driver 2,400 labor hrs. 47 setups percentage of use 11,000 units production of 780 sets of cutting shears, one of the company’s 20 products, took 240 labor hours and 7 setups and consumed 15 percent of the product-sustaining activities. required: (a) had the company used labor hours as a company wide allocation base, how much overhead would it have allocated to the cutting shears? (b) how much overhead is allocated to the cutting shears using activity-based costing? (c) compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 780 units are produced. if direct product costs are $150 and the product is priced at 30 percent above cost for what price would the product sell under each allocation system? (d) assuming that activity-based costing provides a more accurate estimate of cost, indicate whether the cutting shears would be over- or underpriced if direct labor hours are used as an allocation base. explain how over-or undercosting can affect vaulker's profitability. (e) comment on the validity of using the allocated facility-level cost in the pricing decision. should other costs be considered in a cost- plus pricing decision? if so, which ones? what costs would you include if you were trying to decide whether to accept a special order?

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?