Answer:
False
Explanation:
On the contrary, high economic growth may lead to high inflation. Economic growth is indicated by an increase in the value of the gross domestic product GDP. The GDP measures economic growth by calculating the values of all the finished goods and services in a country per period.
Economic growth may be a result of an increase in aggregate demand. The government may institute monetary and fiscal stimulus measures that increase the demand for goods and services. Increased demand results in inflation because consumers will have too much cash, but few goods and services are available. When growth is due to an increase in productivity, inflation is minimal. Inflation is a general increase in prices. Prices usually go up with an increase in economic activities.
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.
Answer:
$219,000
Explanation:
For computation of cost of goods manufactured for May first we need to find out the total manufacturing cost is shown below:-
Total manufacturing cost = Direct material + Direct labor + Manufacturing overhead cost applied to Work in Process
= $60,000 + $90,000 + $64,000
= $214,000
cost of goods manufactured for May = Total manufacturing cost + Beginning work in progress - Ending work in progress
= $214,000 + $20,000 - $15,000
= $234,000 - $15,000
= $219,000
The answer is true and not false
Answer:
D) $1.00
Explanation:
Opportunity cost is the next best option forgone when one alternative is chosen over other alternatives.
If I buy a cappuccino, I have forgone the opportunity to buy Russian tea cakes. Therefore, my opportunity cost is the price of Russian tea cakes.
I hope my answer helps you.
