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2 years ago

Drawing a vertical line from the profit-maximizing output on horizontal axis to the demand curve represents the:_______

1 answer:

4 0

Drawing a vertical line from the profit-maximizing output on the horizontal axis to the demand curve represents the:<u> price</u>.

A demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded over a period of time. In a typical representation, price is displayed on the left vertical axis and quantity demanded is displayed on the horizontal axis.

The demand curve descends from left to right. This represents the law of demand. If the price of a particular commodity increase, the quantity demanded will decrease, all other things being equal.

Note that this phrasing implies that price is the independent variable and quantity is the dependent variable. In most fields, the independent variable appears on the horizontal or x-axis, but economics is an exception to this rule.

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What is a negative externality

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Answer:

exists when a production or consumption of a product results in a coast of third party

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2 years ago

Because costs and benefits are both subjective, a person's cost-benefit analysis will always be based on what?

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Answer: his or her unique values and benefits

Explanation: I just got it right

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3 years ago

Read 2 more answers

In economics, the short run is the time frame in which the quantities of ____ and the long run is the period of time in which __

padilas [110]

In economics, short run is time frame in which the quantities of quantities of some factors of production are fixed; and long run is period of time in which quantities of all the factors of production that can be varied.

<h3>What is production?</h3>

Production is the process of mixing several inputs, both material (like metal, wood, glass, or polymers) and immaterial (like plans, or information) in order to produce output. A valuable good or service that enhances people's utility will be this output's ideal form. Production theory is the branch of economics that focuses on production; it is closely tied to the consumption theory of the economy. Utilizing the first inputs productively leads directly to the manufacturing process and results. Land, labor, and capital are regarded as the three major production components and are known as primary producer commodities or services. These essential ingredients do not substantially change during the output process or turn into a complete part of the final product.

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6 0

1 year ago

Dozen Bakery makes cupcakes and cookies. Dozen gathered the following information for the current year regarding its use of flou

Vilka [71]

Answer:

37 F

Explanation:

Direct materials Quantity variance 597 F

Less: Direct materials Price variance 560 U

Direct materials Flexible Budget variance 37 F

7 0

3 years ago

Variable versus absorption costing Colorado Business Tools, manufactures calculators. Costs incurred in making 9,500 calculators

sveticcg [70]

Answer:

Variable cost per unit = 7.15

Difference in profit = $2,325

Cost formula : Y = 3.1 + 7.15X

Explanation:

Variable cost per calculator =Full cost - Fixed cost per unit

Full cost= $10.25

Fixed cost per unit = Total fixed costs / Number of units

= $29,450/9,500 units= 3.1

Variable cost per calculator = $10.25 - 3.1 = 7.15

Difference in profit = OAR (fixed cost per unit)× change in inventory

= 3.1 × 750 = $2,325

The absorption costing profit would be higher if there is an increase in increase at the end of the period and vice versa. Hence , an increase in inventory by 750 units would mean that absorption costing profit is higher by $2,325

Cost of calculator

Y = a +bx

Y = 3.1 + 7.15X

Y- total cost per unit

Fixed cost per unit = 3.1

Variable cost per unit = 7.15

Variable cost per unit = 7.15

Difference in profit = $2,325

Cost formula : Y = 3.1 + 7.15X

8 0

3 years ago