The Estimated Unit Costs for a Company to Produce and Sell

question 19

Multiple Choice

The estimated unit costs for a company to produce and sell a product at a level of 12,000 units per month are as follows:
$$\begin{array} { l r } & \text { Estimated } \\\text { Cost Item } & \text { Unit Cost } \\\text { Direct material } & \$3 2 \\\text { Direct labor } & 20 \\\text { Variable manfacturing overhead } & 15 \\\text { Fixed manfacturing overhead } & 6 \\\text { Variable selling expenses } & 3 \\\text { Fixed selling expenses } & 4\end{array}$$
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What are the estimated prime costs per unit?

• A) $73
• B) $32
• C) $67
• D) $52

Differentiate between various arguments made for trade restrictions and their validity.

Apply knowledge of trade theory to evaluate national policy decisions.

Understand how taxes affect market equilibrium, including changes in consumer surplus, producer surplus, and government revenue.

Understand the concept of deadweight loss and how taxes contribute to it.

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Definitions:

Selective Deafness

A psychological condition where an individual may unconsciously ignore or not process auditory information or sounds that they find distressing or overwhelming.

Feature Detectors

Feature detectors are specialized neurons in the brain that identify specific elements of a sensory input, such as edges, lines, or movements, helping to interpret complex stimuli.

Weber's Constant

A principle in psychology that quantifies the perception of change in a given stimulus, stating that the ratio of the increment threshold to the background intensity is constant.

Hue

The color of light, as determined by its wavelength.