Answer:
price elasticity of supply (PES) = % change in quantity supplied / % change in price
- PES = -0.8
- % change in quantity supplied = -5%
-5% = -0.8 / % change in price
% change in price = -0.8 / -5% = 16%
we are not given the initial price of the golf balls and I looked for similar questions but couldn't find any. But assuming that the initial price is $1, then the new price = $1 x (1 + 16%) = $1.16. If the initial price was $2, then new price = $2 x (1 + 16%) = $2.32. And son on.
Answer:
$3200 favorable
Explanation:
We have given range of number of production = 40000 units
So average of number of units 
Variable cost = $2 per unit
So total variable cost = 40000×$2 = $80000
Fixed overhead = $72000
Budgeted overhead for actual production = Variable overhead +Fixed overhead = $80000+$72000 = $152000
Actual total overhead cost = $148,800
Total overhead controllable cost variance = Budgeted overhead - Actual overhead
= $152,000 - $148,800 = $3,200 favorable.
Answer:
See below
Explanation:
Specialization means a company or country concentrating on producing few commodities. In practice, a state or company will focus on the products it can produce more efficiently. It means focusing on goods they can manufacture at a lower cost compared to other countries.
The USA can specialize in the goods and services it can produce at a lower cost than other nations. It can then export these products to other countries at competitive prices. For products that are costly to manufacture in the USA, it is prudent to import them from countries that can produce them at lower costs.
Some products manufactured in other countries at a lower cost may be sold in the USA at fair prices than when produced in the USA.
<u>Lean production</u> is a guiding philosophy and management approach that emphasizes efficiency through the elimination of waste in company operations.
Management is the management of an agency, whether or not it's miles a business, a non-earnings business enterprise, or a government frame. it is the art and science of handling resources of the enterprise.
The principle objective of management is to relax maximum outputs with minimum efforts & sources. control is basically concerned with wondering & utilizing human, material & financial resources in this sort of manner that might result in a first-class combination.
To the maximum fundamental degree, management is an area that includes a fixed of 5 general functions: making plans, organizing, staffing, leading, and controlling. those 5 capabilities are a part of a frame of practices and theories on a way to be a hit manager.
Learn more about management here brainly.com/question/1276995
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