Answer:
The correct answer is D. demand and the nature of the market.
Explanation:
External factors: Nature of the market and demand
The price-demand relationship varies in different market classes, and how the way the buyer perceives the price affects the pricing decision. 4 types of markets
.
- If there is pure competition: merchants in these markets do not devote much time to marketing strategy. There is no charge for the products. It is standardized.
- In monopolistic competition: it is within a price range, it can vary by quality, or the services that accompany it.
- In oligopolistic competition: they can be uniform products or not, they are constantly watched over the competition. If prices rise, buyers will quickly change them as a supplier. There are few vendors and it costs others to enter.
- In a pure monopoly: a market formed by a single supplier, unregulated monopolies have the freedom to set their prices, however they do not take advantage of them for several reasons, not to attract competition, fear of regulation and to penetrate the market.
- Demand curve: curve that shows the number of units that the market will buy in a specific period at the different prices that could be charged.
- Price elasticity: Measurement of the sensitivity of demand between changes in the price. It is obtained with the following formula: Elasticity of demand with respect to price = percentage of change in the amount of demand Percentage of change in price
Feedback gives somebody another point of view other than there own allowing them to improve themselves
Answer:
1. 60,000 hours
2. $300,000
3. $1,680 Unfavorable
Explanation:
1. The computation of the standard hours allowed for actual production is shown below:
= Actual production × Standard hours allowed per unit
= 15,000 units × 4 hours
= 60,000 hours
2. The computation of the applied fixed overhead is shown below:
= Standard hours allowed for actual production × Standard fixed overhead rate
= 6,000 hours × $5
= $300,000
3. The computation of the total fixed overhead variance is shown below:
= Actual fixed overhead costs - Applied fixed overhead
= $301,680 - $300,000
= $1,680 Unfavorable
Answer:
$7.77
Explanation:
The answer would be the difference between compound and simple interest
Simple interest = principal x time x interest
$1,410 x 0.03 x 4 = $169.20
Compound interest = future value - present value
future value = Principal ( 1 + interest)^n
$1,410 ( 1.03)^4 = $1586.96
$1586.96 -$1,410 = $176.97
Difference = $176.97 - $169.20 = $7.77
Is known as multiple- unit pricing.
