Afirst-in, first-out (fifo) process cost system is used to account for the cost of producing a chemical compound. as part of production, material b is added when the goods are 80% complete. beginning work-in-process inventory for the current month was 20,000 units, 90% complete. during the month, 70,000 units were started in process, and 65,000 of these units were completed. there were no lost or spoiled units. if the ending inventory was 60% complete, the total equivalent units for material b for the month was

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Suppose the marginal damage and marginal benefit curves in a polluted neighborhood are md = p/3 and mb = 4 – p. also, suppose that transactions costs are low, so that the consumers and the firm can bargain. we saw that in this case, the socially-optimal level of pollution is achieved. start by computing the socially-optimal p. then, for each of the following cases, compute the amount of money transferred through the bargaining process, and indicate who pays whom (i.e., whether consumers pay the firm, or vice versa). also, compute the gains to each party relative to the status quo (i.e., the starting point of the bargaining process).a)consumers have the right to clean air; firm is dominant in the bargaining process.b)consumers have the right to clean air; consumers are dominant in the bargaining process.c)firm has the right to pollute; firm is dominant in the bargaining process.d)firm has the right to pollute; consumers are dominant in the bargaining proces