For the year 2018, a company provides the following information: amount 4,000 30,000 description budgeted output budgeted raw materials to be used in pounds) budgeted raw materials price per pound budgeted labor rate per hour budgeted labor hours $0.20 $15.00 2,000 actual output actual raw materials used in pounds) 4,200 32,000 actual raw materials price per pound actual labor rate per hour actual labor hours $0.18 $14.50 2.050 compute the direct materials price variance. a. the direct materials price variance is $600(favorable) b. the direct materials price variance is $640(unfavorable). c. the direct materials price variance is $640(favorable) d. the direct materials price variance is $600(unfavorable)

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.

What should a food worker use to retrieve ice from an ice machine?

Suppose an economy has only two sectors: goods and services. each year, goods sells 80% of its outputs to services and keeps the rest, while services sells 62% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.