Assume that there are only two countries that produce crude oil, Saudi Arabia and Venezuela, that they produce the same grade of crude oil. First we are going to pretend that there are "regulators" that force them to behave as if they were perfectly competitive firms, and second, we are going to allow them to join OPEC, which is therefore a monopoly, and jointly maximize profits. Assume that the inverse demand curve for crude oil in the global market is given by P= 300- 5QD where Q is measured in million barrels per day.

Saudi Arabia is the low cost producer, with total cost function given by

CSA (QSA)= 500 + 2Q^2SA Venezuela's cost function is

Cy (Qv)= 800 + 4Qv^2

Assume that Saudi Arabia and Venezuela are the only two countries that produce crude oil in the world, and they are forced to behave competitively despite being a duopoly. Under this assumption, derive the market supply curve for crude oil.

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold.required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

In each of the following, what happens to the unemployment rate? does the unemployment rate give an accurate impression of what’s happening in the labor market? a.esther lost her job and begins looking for a new one.b.sam, a steelworker who has been out of work since his mill closed last year, becomes discouraged and gives up looking for work.c.dan, the sole earner in his family of 5, just lost his $90,000 job as a research scientist. immediately, he takes a part-time job at starbucks until he can find another job in his field.

Rossdale co. stock currently sells for $68.91 per share and has a beta of 0.88. the market risk premium is 7.10 percent and the risk-free rate is 2.91 percent annually. the company just paid a dividend of $3.57 per share, which it has pledged to increase at an annual rate of 3.25 percent indefinitely. what is your best estimate of the company's cost of equity?