Answer:
- Government legal minimum price $4.50 : Price Floor [Binding]
- Government maximum set price $4.50 : Price Ceiling [Non Binding]
Explanation:
Price Ceiling is the maximum mandated price by the government , at which a commodity can be sold in the market. It is binding if price ceiling is set below the free market equilibrium price level. It is usually set to protect interests of buyers.
Price Floor is the minimum mandated price by the government, at which a commodity can be sold in the market. It is binding if price floor is set above the free market equilibrium price level. It is usually set to protect interest of sellers.
'The government has instituted a <u>legal minimum price</u> of $4.50 per gallon for gasoline' is an example of Price Floor. As floor price 4.50 > equilibrium price 4 , it is binding.
'The government <u>prohibits</u> gas stations from selling gasoline for <u>more than</u> $4.50 per gallon' is an example of Price Ceiling. As price ceil 4.50 > equilibrium price 4 , it is non binding.
Answer:
Controllable Variance = $6,000 Unfavorable
Volume Variance = $4000 Unfavorable
Factory overhead cost variance = $10,000 Unfavorable
Explanation:
Controllable Variance = (Budgeted Factory Variable Overhead - Actual Factory Variable Overhead)
= ($234,000 - $240,000)
= $6,000 Unfavorable
Budgeted Factory Variable Overhead = ($394,000 - $160,000)
= $234,000
Volume Variance = (Standard Hours for Actual unit Produced - Standard Hour for normal Capacity) Fixed Factory Overhead)
=(19,500-20,000) × $8
= $4,000 Unfavorable
Controllable Variance = $6,000 Unfavorable
Volume Variance $4000 Unfavorable
Factory overhead cost variance = Controllable Variance + Volume Variance
= $6,000 + $4,000
= $10,000 Unfavorable
Answer:
D. a marketing strategy.
Explanation:
Marketing strategy: It is long term approach to develop or penetrate market. Every stage of product life cycle require different marketing strategy. There are different analysis been done to come out with one marketing strategy that will help the company to achieve their primary objective. Strategy for marketing mix, such as product, prices, distribution and promotion are one of the most important strategy to tap the market and gain competitive advantage.
In the given case, Juan and his colleagues have developed a marketing strategy to gain more market share in their target market and how they can gain competitive advantage.
The employment statistics computed from the establishment survey do not include those who are self-employed. Thus option (B) is correct.
<h3>What is self employment?</h3>
Self Employment refers to the activity in which the individual carries out all the business activities by himself and he is the owner of the business. He operates the business for earning profits.
Self-employed people are not included in the employment data derived from the establishment survey. Therefore, The correct option is (B).
Learn more about Self Employment here:
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