During 2020, Blossom Co., a manufacturer of chocolate candies, contracted to purchase 260000 pounds of cocoa beans at $5.00 per pound, delivery to be made in the spring of 2021. Because a record harvest is predicted for 2021, the price per pound for cocoa beans had fallen to $3.80 by December 31, 2020. Of the following journal entries, the one which would properly reflect in 2020 the effect of the commitment of Blossom Co. to purchase the 260000 pounds of cocoa is:.Cocoa Inventory 971100 Accounts Payable 971100Cocoa Inventory 809250 Loss on Purchase Commitments 161850 Accounts Payable 971100Unrealized Holding Gain or Loss-Income 161850 Estimated Liability on Purchase Commitments 161850No entry would be necessary in 2020

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

On analyzing her company’s goods transport route, simone found that they could reduce transport costs by a quarter if they merged different transport routes. what role (job) does simone play at her company? simone is at her company.

Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?