Answer:
The markup calculated as a result of information about the elasticity of demand
Explanation:
As a monopoly seller of pharmaceutical products the price set as markup would be above our marginal cost.
There are three facts about markup:
1. The Markup is not to be a price below marginal cost of the pharmaceutical product.
2. Markup is smaller when demand is more elastic. Remember if the price elasticity of demand is lower than 1, (negative) a rise in price causes an
increase in revenue for the seller.
Therefore having a -4 elasticity of demand could imply more profits for the firm.
The producers create and market products to consumers, so the answer is producers
Answer:
cost of goods sold = $2,310
Explanation:
beginning inventory 20 units at $30 each = $600
purchases during the month = 80 units at $31 each = $2,480
ending inventory = 25 units
using the weighted average cost method, each unit will be valued at ($600 + $2,480) / (20 + 80) = $3,080 / 100 units = $30.80
ending inventory = 25 units x $30.80 = $770
cost of goods sold = (100 - 25) x $30.80 = $2,310
Answer:
The correct answer is "glass ceiling"
Explanation:
The term glass ceiling refers to an unacknowledged barrier to advancement in a profession, for the traditions and concepts that don´t allow a person to rise in respective jobs, because exist external situations like racism or xenophobia. For the current announcement, the glass ceiling appears because Adam Watson (man) has more opportunities than Ang Li (women). It could be considered sexism
Answer:
$200; $10; $6
Explanation:
(i) Profit is the difference between total revenue and total cost.
Profit = Total revenue - Total cost
= (Average revenue - Average cost) Q
= ($10 - $8) × 100 units
= $200
(ii) Under a perfectly competitive market conditions, the average revenue and marginal revenue are equal and profit maximizing firms under these market conditions producing at a point where marginal revenue is equal to the marginal cost.
Therefore, the marginal cost is equal to $10.
(iii) The average cost is the sum total of average fixed cost and average variable cost.
AC = AFC + AVC
AVC = AC - AFC
= $8 - ($200 ÷ 100 units)
= $8 - $2
= $6
Therefore, average variable cost is equal to $6.