<span>If pizza and hamburgers are substitutes, then a rise in pizza prices will cause consumers to move to hamburgers instead. Assuming a fixed supply curve for hamburgers, this will push out the demand curve, which will cause the equilibrium of the two curves to move to a point of higher price and higher quantity. As such, the correct answer is b: a rise; an increase.</span>
Answer:
Standard activity level= 100,000 units
Explanation:
Giving the following information:
Croissant Company's standard fixed overhead cost is $6 per direct labor hour based on budgeted fixed costs of $600,000. The standard allows 1 direct labor hour per unit.
Standard activity level= 600,000/6= 100,000 units
Answer:
Jim's plant can produce products with slight variations
Explanation:
Jim runs a plant which uses a flexible manufacturing production process. This means that his products can offer some range of variations according to the suits or demands of customers, which will be especially helpful when there is a change in taste among customers.
Bill, however uses basic appliances and a mass production system. His products may therefore, suffer due to little variations between them in the case of a change in customers' preferences.
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