Answer: (B) A cost changes as the related activity changes.
Explanation: Cost behaviour is a popular concept in Accounting( studied indepthly in Cost Accounting, a branch of Accounting) that deals with the relationship between cost/expenses and business activity. It tries to explain how much cost would change as a result of increase or decrease in a certain activity or activities in business, with the main aim of finding the best(optimum) combination of cost and activities. In other words, the amount of cost and activities that will yield best returns(maximum profit).
Answer:
All of these answers is correct.
Explanation:
The total amount of money a firm receives by selling goods or services is called total revenue. Total revenue is defined as the total receipts of sales from any good or service provided. You can find the total revenue of a business by multiplying the price of the good/service by the quantity of goods sold.
Answer:
Central Bank
Explanation:
A public authority that provides banking services to commercial banks and regulates financial institutions and markets is called a "Central Bank".
A Central Bank oversees the activities of commercial banks and creates regulations in order to control the activities of financial institutions.
Every commercial bank is answerable to the Central bank. This enables the central bank to provide the services needed by the commercial banks.
The Central bank is the apex financial institution.
Answer:
The statement is true. Because they can control product price, monopolists are always assured of profitable production by simply charging the highest price consumers will pay.
Explanation:
In economics, a monopoly is a term that describes an industry or other economic sector where control rests with one supplier as that supplier is the only one supplying the market. In theory, that means total control or "complete monopoly" but in practice most monopolies today are "quasi-monopolies", with a supplier dominating the market almost completely but with the space for a few small companies as well. The monopolist can get a high price for his product by limiting market supply so that the supply of goods is less than the demand for it.
