We learned in previous lesson plans that resources are used efficiently when marginal benefit equals marginal cost. Economists know that a monopoly--a market in which one firm sells a good or service that has no close substitutes and in which a barrier blocks the entry of new firms--does not use resources efficiently. For example, the tech firm Microsoft’s prices are too high in the sense that they exceed marginal cost and result in fewer copies sold of the Windows operating system and Office applications than the efficient quantities. Explain what makes a monopoly inefficient. Explain whether a monopoly is fair based on the two views, i. e., fair rules and a fair result. Your evaluation should be based on your experience dealing with monopoly market products such as Microsoft Office, your everyday life, and your research conducted on this topic.

The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,800 indirect labor 138,000 property taxes, factory 8,800 utilities, factory 78,000 depreciation, factory 150,600 insurance, factory 10,800 total actual manufacturing overhead costs incurred $ 402,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 408,000 direct labor cost $ 68,000 inventories: raw materials, beginning $ 20,800 raw materials, ending $ 30,800 work in process, beginning $ 40,800 work in process, ending $ 70,800 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,500 machine-hours were used during the year. required: 1. compute the amount of underapplied or overapplied overhead cost for the year. 2. prepare a schedule of cost of goods manufactured for the year.

Tom has brought $150,000 from his pension to a new job where his employer will match 401(k) contributions dollar for dollar. each year he contributes $3,000. after seven years, how much money would tom have in his 401(k)?

What is the average price for the cordless telephones (to 2 decimals)? $ b. what is the average talk time for the cordless telephones (to 3 decimals)? hours c. what percentage of the cordless telephones have a voice quality of excellent? % d. what percentage of the cordless telephones have a handset on the base?