which inventory costing method assumes that items in ending inventory are the most recently acquired? multiple choice question. average cost fifo lifo

Cash from financing activities was $139,800, given cash from operating activities of $30,500, cash used for investing activities of ($51,000), and net change in cash of $58,300.

We can use the cash flow statement equation

Cash flows from operating activities + Cash flows from investing activities + Cash flows from financing activities = Net change in cash

We are given that cash flows from operating activities was $30,500, cash used for investing activities was ($51,000), and the net change in cash was $58,300. Substituting these values in the above equation, we can solve for cash flows from financing activities

Cash flows from financing activities = Net change in cash - Cash flows from operating activities - Cash flows from investing activities

Cash flows from financing activities = $58,300 - $30,500 - (-$51,000)

Cash flows from financing activities = $58,300 + $30,500 + $51,000

Cash flows from financing activities = $139,800

Therefore, cash from financing activities was $139,800.

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To calculate the current period cost-to-retail percentage, we need to divide the cost of goods available for sale by the retail value of goods available for sale.

Beginning Inventory:

Cost: $68,000

Retail: $117,000

Net Purchases:

Cost: $347,410

Retail: $510,000

Net Markups: $29,000

Net Markdowns: $49,000

Net Sales: $456,000

Cost of Goods Available for Sale:

Beginning Inventory (Cost) + Net Purchases (Cost) + Net Markups - Net Markdowns

= $68,000 + $347,410 + $29,000 - $49,000

= $395,410

Retail Value of Goods Available for Sale:

Beginning Inventory (Retail) + Net Purchases (Retail) + Net Markups - Net Markdowns

= $117,000 + $510,000 + $29,000 - $49,000

= $607,000

Current Period Cost-to-Retail Percentage:

= (Cost of Goods Available for Sale / Retail Value of Goods Available for Sale) * 100

= ($395,410 / $607,000) * 100

= 65.07%

Therefore, the current period cost-to-retail percentage is approximately 65.07%.

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The amount that Amy can deduct for the loss of the equipment is calculated as follows:

Adjusted Basis = $3,700 - $0 = $3,700

Amount Realized = $400

Loss = Adjusted Basis - Amount Realized = $3,700 - $400 = $3,300

Since the loss is not related to a federally declared disaster, Amy can only deduct the loss as a business casualty loss on her tax return. Business casualty losses are reported on Form 4684 and then carried over to Schedule C (Form 1040) for self-employed individuals like Amy.

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To simulate a long stock investment using options, an investor can use a combination of long call options and short put options. This strategy is known as a synthetic long stock.

The synthetic long stock is created by buying an at-the-money call option while simultaneously selling an at-the-money put option. Both options should have the same expiration date.The long call option gives the investor the right to buy the underlying stock at the strike price, while the short put option obligates the investor to buy the stock at the same strike price. By selling the put option, the investor receives a premium, which reduces the overall cost of the trade. If the stock price rises, the long call option will become profitable, and the short put option will expire worthless. If the stock price falls, the long call option will expire worthless, but the investor will be obligated to buy the stock at the strike price, which is covered by the premium received from selling the put option.Overall, this strategy allows investors to gain exposure to the stock market while limiting their downside risk.

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To prepare the year-end adjusting entry for inventory using the lower of cost or net realizable value (NRV) approach, we compare the cost of inventory with its NRV and make an adjustment if the NRV is lower.

In this case, the NRV of inventory is $195,000, which is lower than its cost of $200,000.The adjusting entry would be as follows:
Debit: Cost of Goods Sold - $5,000
Credit: Inventory - $5,000
By debiting the Cost of Goods Sold account, we reduce the value of inventory that will be expensed on the income statement. The credit to the Inventory account reduces its value on the balance sheet. This adjustment reflects the decrease in the value of inventory to its net realizable value due to normal business circumstances.
It's important to note that this is a general example, and the specific accounts used may vary depending on the company's chart of accounts and accounting policies

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The primary or preferred starting compound for glycolysis and fermentation is glucose.

Glucose is a simple sugar and the most common carbohydrate used by organisms as an energy source. It serves as the starting point for both glycolysis and fermentation processes in cells. In glycolysis, glucose is broken down into pyruvate, producing a small amount of ATP (adenosine triphosphate) and NADH (nicotinamide adenine dinucleotide). This process occurs in the cytoplasm of cells and is an essential step in cellular respiration.

In fermentation, glucose can be further metabolized in the absence of oxygen to produce energy. Different types of fermentation exist, such as lactic acid fermentation and alcoholic fermentation, and they occur in various organisms. In these processes, glucose is converted into either lactic acid or alcohol, generating ATP and regenerating NAD+ to sustain glycolysis.

Overall, glucose is the primary carbohydrate that serves as the starting compound for both glycolysis and fermentation, playing a crucial role in energy production and metabolism in cells.

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Knowledge check 01 the rate of interest specified in a bond contract as the interest rate to be paid by the company to investors in the bond is known as the market rate. - False.

The rate of interest specified in a bond contract as the interest rate to be paid by the company to investors is known as the coupon rate, not the market rate. The coupon rate is predetermined and stated in the bond contract, representing the annual interest payment as a percentage of the bond's face value. The market rate, on the other hand, refers to the prevailing interest rate in the market for similar bonds at a given time. The market rate can influence the bond's price and yield, but it is not the rate specified in the bond contract.

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True.

Marketing today is generally less expensive due to the availability of digital platforms and online marketing channels, which often have lower costs compared to traditional advertising methods. Digital marketing allows businesses to reach a wide audience at a fraction of the cost of traditional marketing approaches like television or print ads.

However, marketing has also become more challenging due to increased competition and the evolving consumer landscape. With the rise of social media and online platforms, consumers are exposed to a vast amount of marketing messages, making it harder for businesses to capture and retain their attention.

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Demi has accepted an offer for a bilateral contract. A bilateral contract is an agreement between two parties where each party promises to do something in exchange for the other party's promise to do something.

In this case, the lottery company promised to award a prize to anyone with the winning numbers, and Demi promised to submit the winning ticket in exchange for the prize. This is a valid and enforceable contract because both parties have made promises and are bound to fulfill them. Therefore, Demi can legally claim the prize as she has fulfilled her part of the bilateral contract.
The contract is formed when Demi performs the required action of submitting the winning ticket. Unlike a bilateral contract, where both parties make promises to each other, a unilateral contract only involves a promise by one party, and the other party is not obligated to perform any action.

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b) Blue jeans.Monopolistic competition is a market structure in which many firms offer products that are similar but not identical.


Monopolistic competition is a market structure in which many firms offer products that are similar but not identical. They can differentiate their products through branding, marketing, or other non-price factors. In the case of blue jeans, there are many different brands and styles available, and consumers may have preferences for specific brands or features. This type of market structure allows for some degree of market power for the firms, but there is still competition from other firms offering similar products.
In contrast, lobsters are a specialized product with limited substitutes, so they are more likely to be sold in a monopolistic market. Segway scooters and commercial aircraft are examples of markets with high barriers to entry and dominated by a few firms, making them oligopolies.

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It is crucial for marketers to focus their marketing strategies on opinion leaders in a group as opinion leaders represent the trendsetters who purchase products before others in the group and then influence the buying decisions of other group members.

Opinion leaders are individuals who are respected, influential, and knowledgeable within a specific social group or community. They are often early adopters of new products or ideas and have a significant impact on the purchasing decisions of others in their group. Their opinions and recommendations carry weight and influence the perceptions and choices of their peers.
By targeting and engaging with opinion leaders, marketers can leverage their influence to create positive word-of-mouth, enhance brand awareness, and drive adoption of their products or services within the larger group. Opinion leaders serve as powerful advocates and opinion shapers, making them a valuable target for marketing efforts.
Therefore, marketers focus on opinion leaders because they play a crucial role in driving the adoption and acceptance of products or ideas within their social groups by being trendsetters and influencing the buying decisions of others.

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To record the allocation of the cost of a natural resource for the period, the following journal entry would be appropriate: Debit Depletion Expense and Credit the natural resource.

Debit Depletion Expense

Credit Accumulated Depletion or Accumulated Depreciation (or a specific contra account for the natural resource)

The Debit to Depletion Expense represents the expense incurred in using up or depleting the natural resource during the period. This expense is recognized to reflect the reduction in the value or quantity of the natural resource over time.

The Credit to the natural resource account (such as Accumulated Depletion or Accumulated Depreciation) offsets the original cost of the natural resource. It represents the portion of the natural resource's cost that has been allocated or depleted over time.

Therefore, both Debit depletion expense and Credit the natural resource account would be included in the journal entry to record the allocation of the cost of a natural resource for the period.

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To calculate Bodily Corporation's income tax payable for 2024, we need to consider the pretax accounting income and the applicable tax rates for both 2024 and the previous year (2022).

First, we calculate the taxable income for 2024 by subtracting the net operating loss carryforward from the pretax accounting income:

Taxable Income for 2024 = Pretax Accounting Income - Net Operating Loss Carryforward

Taxable Income for 2024 = $260,000 - $124,000

Taxable Income for 2024 = $136,000

Next, we calculate the income tax payable for 2024 by multiplying the taxable income by the applicable tax rate for that year:

Income Tax Payable for 2024 = Taxable Income for 2024 * Tax Rate for 2024

Income Tax Payable for 2024 = $136,000 × 0.28

Income Tax Payable for 2024 = $38,080

Therefore, Bodily Corporation's income tax payable for 2024 would be $38,080.

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Under the Revised Uniform Partnership Act, the death of one partner would result in the dissolution of the partnership.

This means that the partnership would come to an end, and any assets and liabilities of the partnership would need to be distributed. However, the surviving partner would have the right to continue operating the farm as an individual proprietorship or could form a new partnership with someone else. In terms of the ownership of the farm, it would depend on how the partnership agreement was structured.

If the partnership agreement stated that the ownership of the farm would pass to the surviving partner, then the surviving partner would retain ownership. If there was no such provision in the partnership agreement, the farm would likely be subject to probate and the deceased partner's share would be distributed according to their will or state law.

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Statement A is incorrect because it does not accurately reflect the criteria for exemption from passive loss limitations. Statement B is incorrect because it misrepresents the treatment of gross investment income. Statement D is incomplete and lacks information for a conclusive determination.

The correct statement regarding the passive loss rules involving rental real estate activities is:

C. Passive rental activity losses may be deducted only against passive income, but passive rental activity credits may be used against taxes attributable to nonpassive activities.

According to the passive loss rules, passive rental activity losses can only be offset against passive income. This means that losses from rental real estate activities can only be used to reduce income generated from other passive activities. However, passive rental activity credits, if any, can be used to offset taxes owed on nonpassive activities. This allows for some flexibility in utilizing credits from passive rental activities to offset taxes from other sources.

Statement A is incorrect because it does not accurately reflect the criteria for exemption from passive loss limitations. Statement B is incorrect because it misrepresents the treatment of gross investment income. Statement D is incomplete and lacks information for a conclusive determination.

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In the United States today, the most widely used system to generate electricity is a combination of fossil fuels, specifically natural gas, coal, and petroleum. This system relies on thermal power plants, including natural gas-fired power plants and coal-fired power plants, as the primary source of electricity generation.

Natural gas plays a significant role in electricity generation due to its abundance, relatively low cost, and cleaner emissions compared to other fossil fuels. Natural gas power plants use combustion turbines or combined-cycle technology to convert the energy from burning natural gas into electricity.

Coal, while experiencing a decline in recent years, still contributes to a significant portion of electricity generation in the United States. Coal-fired power plants generate electricity through the combustion of pulverized coal, producing steam that drives turbines connected to generators.

Petroleum-based power plants are less common and generally used as backup or emergency power sources. They typically rely on internal combustion engines or gas turbines fueled by diesel or fuel oil.

It's worth noting that renewable energy sources like wind, solar, hydroelectric, and nuclear power also contribute to the electricity generation mix in the United States, with their share steadily increasing in recent years. However, fossil fuel-based systems still dominate the current electricity generation landscape.

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The FIFO (first-in, first-out) inventory costing method generally produces a higher cost of goods sold and a lower net income during times of rising prices. This is because, under FIFO, the first units purchased are assumed to be sold first, leaving the most recently purchased (and usually more expensive) units in the ending inventory.

As a result, the cost of goods sold reflects the higher costs of the more recently purchased units, resulting in a higher cost of goods sold and lower net income.

On the other hand, the LIFO (last-in, first-out) inventory costing method generally produces a lower cost of goods sold and a higher net income during times of rising prices. This is because, under LIFO, the last units purchased are assumed to be sold first, leaving the oldest (and usually less expensive) units in the ending inventory. As a result, the cost of goods sold reflects the lower costs of the older units, resulting in a lower cost of goods sold and higher net income.

Overall, the choice of inventory costing method can have a significant impact on a company's financial statements, and management should carefully consider the effects of each method before making a decision.

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The cost of goods manufactured for Gunner Manufacturing is $122,000, which corresponds to option B.

To calculate the cost of goods manufactured, we need to consider the cost of materials used, direct labor costs, factory overhead, and the changes in work in process.

1. Begin with the cost of materials used: $45,000
2. Add direct labor costs: $48,000
3. Add factory overhead: $39,000
4. Add the beginning work in process: $18,000
5. Subtract the ending work in process: -$28,000

Now, let's calculate the cost of goods manufactured:

$45,000 (materials) + $48,000 (labor) + $39,000 (overhead) + $18,000 (beginning WIP) - $28,000 (ending WIP) = $122,000

Therefore, the correct option is b. $122000.

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The clause that would prevent a lender from pursuing a borrower directly for loan repayment, except for certain carve-outs, is called the non-recourse clause. This clause is typically included in a loan agreement or promissory note and limits the lender's recourse to the collateral securing the loan.

In essence, a non-recourse clause provides that the lender can only go after the asset securing the loan in the event of default, and not the borrower's personal assets. This means that if the borrower defaults on the loan, the lender may foreclose on the collateral and sell it to recover the loan amount, but they cannot come after the borrower's personal assets to satisfy the debt. Non-recourse clauses are commonly found in secured loans, such as those for real estate or equipment. The collateral serves as security for the loan, and the non-recourse clause provides the borrower with some protection against the lender's recourse to their personal assets.
It is important to note that non-recourse clauses often have carve-outs, which are exceptions to the limitation on the lender's recourse. For example, a carve-out may allow the lender to pursue the borrower's personal assets if the borrower engaged in fraud or misrepresentation in obtaining the loan. Other carve-outs may include environmental liabilities or other specific risks associated with the collateral.

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When the future is expected to be significantly different from the past, forecasts become especially important as a tool for strategic planning and decision-making.

forecasts are most useful when the future will look radically different from the past. in other words, when there is a significant change in the external environment, such as changes in market conditions, consumer preferences, technology, or regulations, it becomes necessary to forecast future trends and adapt to the changing landscape. forecasts can help businesses to make informed decisions, anticipate potential challenges, and identify new opportunities that may arise in the future.

while forecasts can also be useful in predicting past trends, this is generally less valuable because historical data is already available and can be analyzed directly. the primary purpose of forecasts is to anticipate future trends and plan accordingly, which requires a forward-looking perspective.

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The correct option that requires immediate intervention is  A newborn who is 24 hr post-delivery and has not passed meconium. Option C.

The passage of meconium, the dark, sticky substance formed in the fetal intestines, is an important milestone for a newborn. It typically occurs within the first 24-48 hours after birth. Delayed passage of meconium beyond this timeframe may indicate an underlying issue and requires immediate intervention.

The presence of meconium in the newborn's stool signifies the normal functioning of the gastrointestinal tract. Failure to pass meconium within the expected timeframe can be indicative of an intestinal obstruction or other conditions such as Hirschsprung's disease, which is a congenital disorder affecting the nerves in the colon.

These conditions can lead to complications such as bowel perforation, sepsis, or intestinal damage if left untreated.

The nurse should promptly notify the healthcare provider and initiate appropriate diagnostic investigations and interventions.

These may include abdominal imaging, rectal examination, or other tests to determine the cause of the delayed passage of meconium. Timely intervention is crucial to prevent potential complications and provide appropriate management for the newborn.

It's important to note that while the other options (A, B, and D) may require monitoring or further assessment, they do not present as immediate concerns requiring immediate intervention. A newborn who is 24 hours post-delivery and has not voided may be monitored for adequate hydration, but immediate intervention is not typically warranted.

Acrocyanosis, bluish discoloration of the extremities, is a common and transient finding in newborns, and a temperature of 37.5°C (99.5°F) is within the normal range for a newborn and does not necessarily indicate immediate intervention. SO Option C is correct.

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Money is available in one lump sum payment is true about 'Home Equity Loans- HELs'. Option 2.

Home Equity Loans provide a fixed amount of money upfront, paid in a lump sum. The borrower then makes fixed monthly payments over the life of the loan.

The interest rate on HELs can be fixed or adjustable, depending on the loan terms. Payment on the loan is typically made monthly, rather than at the end of the term .

An excellent reason to consider home equity loans is that they typically have low-interest rates and are fixed. Borrowing against the equity in your home may be a smart way to consolidate higher-interest debt, such as credit card debt, due to the low-interest rates on most home equity loans.

Home equity loans often have interest rates greater than home equity lines of credit, so you can end up paying more in interest over the course of the loan. Your Residence Will Serve As Collateral Your credit score will be lowered if you don't make your monthly installments on time.

Hence, the right answer is option 2. Money is available in one lump sum payment.

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Because of the time value of money, projects that promise positive returns are preferable to those that promise negative returns.

The time value of money is a financial concept that recognizes the potential earning capacity of money over time. It implies that the value of money today is worth more than the same amount of money in the future due to the ability to invest and earn returns on it.

Projects that promise positive returns are preferred over those that promise negative returns because positive returns indicate that the project has the potential to generate additional value or profitability over time. These returns can come in the form of cash flows, profits, or other financial benefits that exceed the initial investment or cost of the project.

Considering the time value of money, organizations and investors typically prioritize projects that have the potential to deliver positive returns, as they align with the goal of increasing wealth and value over time. By evaluating the projected returns and comparing them with alternative investment opportunities, they can make informed decisions to optimize their investments and financial outcomes.

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The underlined portion of the question represents the sixth step of the control process, which is to measure performance.

In this step, the actual performance is compared to the established standards to determine if there are any deviations. By conducting research and finding that sales of the traditional Oreo cookie were disappointing in China, Kraft realized that they needed to make a change to increase revenue.

The invention of a new Oreo was the corrective action taken in response to the deviation from the established sales standards. This demonstrates the importance of measuring performance and analyzing deviations to improve business outcomes.

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Intra-Role conflict almost always results from receiving contradictory information about a project from one's boss and team. Option E is it.

Intra-role struggle emerges when the requests fall inside a solitary everyday issue, similar to the work environment. These inconsistencies may be brought on by the inherent complexity of the position, ambiguity, or a lack of agreement regarding the requirements of the position.

At the point when laborers are given jobs while are not viable with each other or when their job covers with that of one more specialist or workgroup, this is known as job struggle. If there is a lot of conflict between roles, a worker is more likely to feel stressed at work.

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Question:

It is highly likely that a person will experience _____ conflict when their boss and team provide contradictory information regarding a project.

a. intragroup

b. individual job

c. intra-shipper

d. bunch job

e. intra-role conflict

Berk's basis in this land is $90,200 which he buys.

Cash payments are made to the provider of the product or service by the customer in the form of banknotes or coins. It may also entail paying employees within a company for the hours they worked or reimbursing them for tiny expenses that are too little to be processed through the system for accounting.

The information provided is:

The cash payment made by Fred Berk to buy a plot of land is $40,000.

The money mortgage made by Fred Berk to buy a plot of land is $50,000.

The insurance policy made by Fred Berk to buy a plot of land is $ 200.

berk's basis in this land is

= cash payment +money mortgage+ insurance policy

= $40,000+ $50,000 + 200

= $90,200

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If the central bank of Johnsrudia engages in contractionary monetary policy, which leads to an increase in interest rates, it is likely to have several effects on the value of the country's currency, as well as its imports and exports.

Firstly, an increase in interest rates generally attracts foreign investors who seek higher returns on their investments. This increased demand for the country's currency can lead to an appreciation in its value. A stronger currency makes imports relatively cheaper, as it allows Johnsrudia to purchase more foreign goods and services for a given amount of its own currency.

On the other hand, an appreciation in the currency's value can make exports relatively more expensive for foreign buyers. This can lead to a decrease in exports as the prices of Johnsrudia's goods and services become less competitive in international markets. Consequently, the country's exports may decline.

In summary, if the central bank of Johnsrudia implements contractionary monetary policy, resulting in higher interest rates, it is likely to lead to an appreciation of the country's currency. This can make imports cheaper and exports more expensive, potentially causing a decrease in exports. However, the actual impact on the currency, imports, and exports will depend on various factors, including the overall economic conditions, trade policies, and responses from other countries.

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The statement "All of the following are ways oligopolists differentiate their products except for" is incorrect. The correct statement would be "One of the ways oligopolists differentiate their products is through highly differentiated products." Therefore, option (A) is the correct answer.

Oligopolists often differentiate their products in various ways to create a competitive advantage and attract customers. These differentiation strategies include sales locations, physical qualities, the image of the product established in the consumer's mind, and services offered with the product. Sales locations refer to the availability and accessibility of the product in different markets or distribution channels. Physical qualities encompass the product's design, features, and characteristics that set it apart from competitors. The image of the product established in the consumer's mind relates to branding, advertising, and positioning efforts to create a distinct perception and reputation. Services offered with the product can enhance the overall customer experience and differentiate the offering from competitors.

Highly differentiated products, which involve offering unique features, functions, or benefits not found in competing products, are indeed another effective way for oligopolists to differentiate their offerings and gain a competitive edge.

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The following two are likely to occur as a perfectly competitive, constant cost industry expands i.e., as new firms enter the industry, the cost of production remains the same and the industry adjusts so that the additional output is produced at the same price it was before the expansion.

A constant cost industry is one that has perfect competition and where the introduction of new businesses has no impact on the overall cost of production. There are several situations when the admission of new enterprises has no impact on the costs of the industry's total production. A constant cost industry is the name given to this kind of sector. The long-term supply curve for the sector is a horizontal flat line.

The definition of a constant cost industry is one where the cost of production remains constant despite changes in the sector's total output. The primary factor for the constant cost is that the related industry's demand for the raw materials is much lower than the demand for these raw materials as a whole.

Options A and D are the correct answer.

The complete question is, "which two of the following are likely to occur as a perfectly competitive, constant cost industry expands?

A. as new firms enter the industry, the cost of production remains the same.

B. as firms enter the industry, the cost of production increases.

C. the supply curve shifts to the left.

D. the industry adjusts so that the additional output is produced at the same price it was before the expansion."

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To calculate the 1970 price of a gallon of gasoline in 2013, we need to adjust the 1970 price level for inflation using the Consumer Price Index (CPI).

   According to the Bureau of Labor Statistics, the CPI for 1970 was 38.8, and the CPI for 2013 was 232.957. Using this information, we can calculate the adjusted price as follows:

Adjusted 1970 price = 1970 price x (2013 CPI / 1970 CPI) = $0.36 x (232.957 / 38.8) = $2.14

Therefore, the 1970 price of a gallon of gasoline in 2013 dollars would be $2.14.

The CPI is used to measure changes in the prices of goods and services over time. It compares the cost of a basket of goods and services in a given year to the cost of the same basket of goods and services in a base year (in this case, 1970). By adjusting the 1970 price level for inflation using the CPI, we can calculate the price of a gallon of gasoline in 2013 dollars, which accounts for changes in the overall price level over time. In this case, the adjusted price of $2.14 in 2013 dollars is higher than the nominal price of $0.36 in 1970 dollars, reflecting the impact of inflation over the intervening years.

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