The type of economy that referred in the question would most likely be a free-enterprise economy. By definition, a free-enterprise economy is an economic system wherein the market is free of government intervention. In addition, it is essential to the world trade because "<span>permits developing nations to compete on an equal economic basis with more industrialised countries."</span>
<span>On a average of 12.1cent per unit ($242000 divided 20,000 gives a fixed cost)
they will increase their budget to $302,500 fixed cost giving a total increase of $60,500.</span>
Answer:
P = 3q^2 - 20q + 30 for prices above $5.
Explanation:
Supply curve is rising Marginal cost
Answer:
1) 24.4%
2) 67.4%
Explanation:
The basis on which overheads are to be applied is considered under 'denominator' value.
1)
Numerator = Estimated factory $122,000
Denominator = Direct Labor $500,000
Overhead Rate = 122,000 / 500,000 = 0.244 ==> 24.4%
2)
Numerator = Estimated factory overhead $122,000
Denominator = Direct Material $181,000
Overhead Rate = 122,000 / 181,000 = 0.674 ==> 67.4%
