1. a large number of buyers and sellers
2. an identical or a homogeneous product
Answer:
Possible causes of material quantity variance:
1. The use of sub-standard material
2. The use of unskilled labour
3. Wastage of material
Explanation:
Material quantity variance is the difference between standard quantity and actual quantity used multiplied by standard price. The use of sub-standard material reduces the quality of output thereby resulting to unfavorable material quantity variance. The use of unskilled labour also leads to unfavorable material quantity variance. Wastage of material due to low quality of inputs also results to unfavorable material quantity variance.
Based on the fact that the non-taxable life insurance benefit is $400, the amount that Joseph would have to earn is $555.56.
<h3>How much should Joseph earn?</h3>
This can be found as:
= Non-taxable benefit amount / (1 - tax bracket rate)
Solving gives:
= 400 / (1 - 28%)
= 400 / 0.72
= $555.56
Find out more on non-taxable benefits at brainly.com/question/1581158.
#SPJ1
Answer:
The answer for what is not a step in the decision making model is option E) consider qualitative factors
Explanation:
The steps in decision making model includes the following
- defining the problem
- collation of data
- Identifying the alternatives
- determining costs and benefits for both feasible and unfeasible alternatives
- total relevant costs and benefits for each alternative
- action Plan
Considering qualitative factors is a post decision making action. It happens during the decision analysis phase.
Compared to the price elasticity of demand for gasoline, the demand for Texaco gasoline will be <u>more elastic</u>.
Price elasticity of call for is the ratio of the proportion change in the amount demanded of a product to the percentage exchange in rate. Economists hire it to apprehend how supply and demand trade when a product's price changes.
If a fee alternate for a product causes a giant change in both its supply or call for, its miles are considered elastic. Generally, it manner that there are acceptable substitutes for the product. Examples would be cookies, luxury cars, and coffee.
In commercial enterprise and economics, price elasticity refers to the degree to which people, purchasers, or producers alternate their demand or the quantity supplied in response to fee or earnings adjustments. it is predominantly used to evaluate the trade-in consumer call for because of an alternate in an excellent or carrier's price.
Learn more about price elasticity here brainly.com/question/5078326
#SPJ4
