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In a study published in 1980, B.B. Gibson estimated the following price and income elasticities of demand for six type of public goods. State Activity Price Elasticity Income Elasticity Aid to needy people -0.83 0.26 Pollution control -0.99 0.77 Colleges and universities -0.87 0.92 Elementary school aid -1.16 1.14 Parks and recreation areas -1.02 1.06 Highway construction and maint -1.9 0.99 (a) do these public goods conform to the law of demand? For which public goods is demand price elastic? (b) What types of goods are these public goods? (c) If the price or cost of college and university education increase by 10 percent and, at the same time, incomes also increase by 10 percent, what would be the change in the demand for college and university education?
What will Ricky and Lucy's new monthly payments be? (Please be sure to show how calculations are made.
Evaluate what MACRS convention applies to machine and find weston's cost recovery for 2012 is $ and for 2013 is $ .
Recomputed the company\'s unit product costs in accordance with your recommendations.
If overhead is allocated on the basis of direct labor hours, compute the unit cost of Product X - Evaluate the unit cost of Product X under the ABC system. Comment briefly.
Evaluate individually the increase or decrease in total income arising from the company's errors in evaluating or entering depreciation or in recording transactions affecting trucks, ignoring income tax considerations.
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Determine the following Contribution margin, break even, targeted profit and Gilley, Inc., sells a single product.The company's most recent income statement.
An employee receives an hourly rate of $40, with time and a half for all hours worked in excess of 40 during a week. Illustrate what is the gross pay for the employee?
How do the various classifications of investments affect financial statements? What is the rationale behind the different accounting methods for the various investment classifications?
A company currently completed 45,000 units of a product that was expected to consume four pounds of direct material for each finished unit. The standard price of direct material was $8 per pound.
Prepare journal entries for each event and adjusting entries.
Create a contribution margin format income statement
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