When the government sets a price for wheat that is above the equilibrium price, it is imposing a PRICE CEILING.
Answer:
The correct answer is <u>value</u>.
Explanation:
Marketing can be defined as a process of selling a product in the market. It involves the collection, analyzing and interpretation of data related to the market, regarding a good or service, or about customers, both past as well as potential.
It involves understanding the market and the client, then creating and communicating the product that delivers value to the customers.
Answer:
The correct answer is the definition of fixed and variable costs.
Explanation:
The cost of production of a company can be subdivided into the following elements: rents, wages and wages, depreciation of capital goods (machinery and equipment, etc.), the cost of raw materials, interest on operating capital , insurance, contributions and other miscellaneous expenses. Different types of costs can be grouped into two categories: fixed costs and variable costs.
Fixed costs
The fixed costs are those that the company necessarily has to incur when starting its operations. They are defined as costs because in the short and intermediate term they remain constant at different levels of production. As an example of these fixed costs, executive salaries, rents, interest, insurance premiums, depreciation of machinery and equipment and property taxes are identified.
Variable costs
Variable costs are those that vary with the volume of production. The total variable cost moves in the same direction of the production level. The cost of raw material and the cost of labor are the most important elements of variable cost.
The decision to increase the level of production means the use of more raw material and more workers, so the total variable cost tends to increase production. The variable costs are, then, those that vary as production varies.
Answer:
$92,054
Explanation:
The computation of the gross income is shown below:
= Wages earned + interest received from a savings account
= $87,240 + $4,814
= $92,054
We simply added the wages earned and the interest received from a savings account so that the accurate amount can come i.e gross income
All other information which is given is not relevant. Hence, ignored it
