If occupational safety laws were changed so that firms no longer had to take expensive steps to meet regulatory requirements, we would expect that a. the demand for products in this industry would increase. b. the market price of products in this industry would decrease in the short run but not in the long run. c. the firms in the industry would make a long-run economic profit. d. competition would force producers to pass the lower production costs on to consumers in the long run. g

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?