The cost-benefit principle states that <u>costs and benefits</u> are the incentives that shape decisions.
<h3>How is the cost-benefit principle used?</h3>
According to the fundamental of economics, the cost-benefit principle states that every rational being is likely to take into consideration the cost and the benefit of one or a set of decisions before a final choice is taken.
In order words, a line of decision for example an investment should only be undertaken only if the benefits associated with the cost of such investment are at least as large or way larger than the cost.
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Answer:
The demand curve and supply curve will shift leftwards.
Explanation:
The increase in the income of riders will decrease the number of bus rides because there is an inverse relationship between income and inferior goods. Therefore, the demand curve for bus rides will shift leftwards. Moreover, the increase in wages is an input cost, therefore, the rise in input cost will shift the supply curve leftwards.
Answer:
"Pursuit of monopoly power" is the correct solution,
Explanation:
- Through a party, the shareholders of such a monopoly have had the authority to adjust rates, eliminate rivals, thereby dominate the competition within the specific geographical region.
- Antitrust laws in the United States discourage monopolies and whatever other practices which unduly restrict competitor's commerce. The form of trade restriction shown by this illustration is the acquisition of monopoly control.
Therefore the answer to the above was its right one.
Answer:
Cutting Department:
Rate variance = 6380*(10.9-11) = -638 Favorable
Time variance = 11*(6380-25000*0.25) = 1430 Unfavorable
Total direct labor cost variance = (6380*10.9)-(25000*11*0.25) = 792 Unfavorable
Sewing Department:
Rate variance = 9875*(11.12-11) = 1185 Unfavorable
Time variance = 11*(9875-25000*0.4) = -1375 Favorable
Total direct labor cost variance =(9875*11.12)-(25000*11*0.4) = -190 Favorable
