<u>Answer:</u> 8:10
<u>Reasoning:</u> 8:40 - 0:30
Answer:
![\left[\begin{array}{cccc}&$Flexible Budget&$Actual&$Variance\\$Sales&548,000&500,000&48000U\\$Variable&-82,200&-113,700&31,500U\\$Contribution&465,800&386300&79,500U\\$Fixed Cost&-142,000&-134,000&8,000F\\$Income&323,800&252300&71,500U\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D%26%24Flexible%20Budget%26%24Actual%26%24Variance%5C%5C%24Sales%26548%2C000%26500%2C000%2648000U%5C%5C%24Variable%26-82%2C200%26-113%2C700%2631%2C500U%5C%5C%24Contribution%26465%2C800%26386300%2679%2C500U%5C%5C%24Fixed%20Cost%26-142%2C000%26-134%2C000%268%2C000F%5C%5C%24Income%26323%2C800%26252300%2671%2C500U%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Explanation:
Sales Price: 434,000 / 21,700 = 20
Variable cost: 65,100 / 21,700 = 3
fixed cost: 142,000
Values at 27,400 units:
sales: 27,400 units x $20 = 548,000
variable cost: 27,400 units x $3 = 82,200
Now, we compare with the actual result and calcualte the income
Answer:
c. marginal benefit is less than the marginal cost of the good.
Explanation:
Allocation of resources is important in every nation or society because, human wants are unlimited whereas the resources meant to satisfy these wants are in short supply. Therefore, only the most important needs are satisfied before the less important needs. Marginal benefit is the maximum sum of money that consumers are willing to pay for an additional good or service. Marginal cost is the difference in cost when a new or additional unit of goods is produced.
Nations would allocate less to the production of a good when the maximum price consumers are willing to pay for an added unit of that good becomes less than changes in cost when a unit of that good is produced. Marginal benefit reduces when consumption of the good has increased to a reasonable extent. The consumers then lose interest in paying more for that good.
