Macee Department Store has three departments, and it conducts advertising campaigns that benefit all departments. Advertising costs are $116,000 this year, and departmental sales for this year follow. Department Sales 1 $ 280,000 2 526,400 3 313,600 How much advertising cost is allocated to each department if the allocation is based on departmental sale

The account titles for transaction (d) 5/5 should appear in the account title column of the journal entry as a. merchant’s bank equipment—store b. cash equipment—store c. a/p—bellhaven bank cash d. inventory—merchandise p. woodsley—capital

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Eileen's elegant earrings produces pairs of earrings for its mail order catalogue business. each pair is shipped in a separate box. she rents a small room for $150 a week in the downtown business district that serves as her factory. she can hire workers for $275 a week. there are no implicit costs. what is the marginal product of the second worker?