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Ratling [72]
2 years ago
12

What's price in economics

Business
2 answers:
irinina [24]2 years ago
7 0

Answer:

the amount of money that has to be paid to acquire a given product.

<em>I hope this helps! ^^</em>

tatuchka [14]2 years ago
3 0

Answer:

Price is the value that a manufacturer will receive in exchange of service and goods.

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What is not a guideline for evaluating your working main points?
dimaraw [331]
<span>Constructing each point in many different ways is usually not a good way to make one's main points. This will only confuse the reader and give them the belief that the writer doesn't really have that much evidence to back up their main idea. Using a number of different points, while only stating them in one way makes it easier for the reader to see all the different pieces of evidence and how they fit together.</span>
4 0
3 years ago
To make a batch of 800 units, it is estimated that 120 direct labor hours are required at a cost of $12 per hour. Direct materia
Anna [14]

Answer:

It is more convenient to buy the product from an outsource supplier.

Explanation:

Giving the following information:

To make a batch of 800 units, it is estimated that 120 direct labor hours are required for $12 per hour. Direct material costs are estimated at $1,800 per batch. The overhead costs are calculated based on an overhead rate of $7.50 per direct labor hour. The item can be readily purchased from a local vendor for $5 per unit.

We need to determine whether it is more convenient to make in house or outsource.

Make in house:

Total variable cost= 120*12 + 1,800 + 120*7.5= $4,140

Unitary variable cost= 4,140/800= $5.18

Buy= 5

It is more convenient to buy the product from an outsource supplier.

6 0
4 years ago
Drug companies are allowed to be monopolists in the drugs they discover in order to A. increase the overall welfare of society t
Daniel [21]

Answer:

C. Encourage research

Explanation:

If a drug company discovers a new drug , it can apply for availing a patent for the same which shall grant it exclusive right to produce and sell the drug in the market for several years.

In such cases, the government tests such drugs if those are genuine before approving such a patent which creates the situation of a monopoly whereby the pharmaceutical company becomes the single seller of such drugs.

The purpose behind creation of such sort of monopolies being, this serves as an incentive or the encouragement for such pharmaceutical companies to carry out extensive research and thereby discover new drugs whose discovery would ultimately lead to common welfare.  

5 0
3 years ago
Which two of these are essential for completing an initial mortgage loan application?
worty [1.4K]

Name of insurance agent and current debts and credit history and name of insurance agent because they cant give you money without insurence and second if you have debt that you have payed off then its likely they will not give money because that shows them that you can't pay your debts that easily.

Explanation:

I hope this helps.

4 0
3 years ago
Read 2 more answers
When marginal cost is greater than marginal benefit at the current activity level, the decision maker can increase net benefit b
Rainbow [258]

Answer: d. total cost will fall by more than total benefit will fall.

Explanation:

At this point where Marginal benefit is greater than marginal cost, it means that every additional unit produced gives a higher total cost than total benefit.

If activity levels were to be decreased therefore, total cost would fall more than total benefit would fall until a point is reached where total benefit and total cost would be falling at the same rate. This would be the optimal activity point because Marginal cost would be equal to Marginal benefit.

7 0
3 years ago
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