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Home Question Bank Economics Archive 2024 December 08

Economics Questions from Dec 08,2024

Browse the Economics Q&A Archive for Dec 08,2024, featuring a collection of homework questions and answers from this day. Find detailed solutions to enhance your understanding.

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Price ceilings tend to create shortages when used to: bring down price in a competitive market. redeate a price above equilibrium. bring down price to the level of marginal cost. A Canadian aluminum firm sells aluminum in the United States and Japan. Since the United States buys aluminum from more sources than Japan does, the U.S. demand for Canadian aluminum is more elastic than that of Japan. If the Canadian aluminum firm wishes to maximize its profits, it should: charge the same price in both countries (after adjusting for transportation costs). charge a higher price in the United States and a lower price in Japan. charge a lower price in the United States and a higher price in Japan. figure out which market is more profitable and sell only in that market. Which strategy would allow a seller to develop unique cost advantages to create a barrier to new sellers entering its market? gain market power as a buyer in a critical input market convince the government to require licenses to enter the market add switching costs to lock in customers use brand proliferation to cover all market niches Find the present value. Round to the nearest cent. To get after 7 years at compounded semiannually A. B. C. D. Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hitzu Company sold a copier (that costs ) for cash with a two-year parts warranty to a customer on August 16 of Year 1 . Hitzu expects warranty costs to be of dollar sales. It records warranty expense with an adjusting entry on December 31. On January 5 of Year 2 , the copier requires on-site repairs that are completed the same day. The repairs cost for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier. Exercise (Algo) Warranty expense and liability computations and entries LO P4 points Complete this question by entering your answers in the tabs below. ? Find the present value. Round to the nearest cent. To get after 3 years at compounded quarterly A. B. C. D. Hitzu Company sold a copier (that costs ) for cash with a two-year parts warranty to a customer on August 16 of Year 1 . Hitzu expects warranty costs to be of dollar sales. It records warranty expense with an adjusting entry on December 31 . On January 5 of Year 2 , the copier requires on-site repairs that are completed the same day. The repairs cost for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier. Exercise (Algo) Warranty expense and liability computations and entries LO P4 1. How much warranty expense does the company report for this copier in Year 1? 2. How much is the estimated warranty liability for this copier as of December 31 of Year 1? Hitzu Company sold a copier (that costs ) for cash with a two-year parts warranty to a customer on August 16 of Year 1. Hitzu expects warranty costs to be of dollar sales. It records warranty expense with an adjusting entry on December 31 . On January 5 of Year 2 , the copier requires on-site repairs that are completed the same day. The repairs cost for materials taken from the parts inventory. These are the only repairs required in Year 2 for this copier. Exercise 9-12 (Algo) Warranty expense and liability computations and entries LO P4 1. How much warranty expense does the company report for this copier in Year 1?
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