Draw a curve that shows the relationship between quantity and total revenue when the demand curve for umbrellas is linear increases.
If demand is elastic (price elasticity > 1), price and total sales are negatively related. In other words, an increase in price leads to a decrease in total sales.
Revenue is the amount of money generated WITHOUT subtracting the costs of business. In economics, the total sales test is a means of determining whether demand is elastic or inelastic. If an increase in price leads to an increase in total sales, demand is said to be inelastic because the increase in price does not significantly affect the quantity demanded.
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A brownfield (also known as "brown-field") investment is when a company or government entity purchases or leases existing production facilities to launch a new production activity. This is one strategy used in foreign-direct investment.
Answer:
d. The determination of the principal.
Explanation:
An independent contractor is one who is not bound by any affiliations to either a company, a country or an ideology.
He is hired to do a specific work and based on his contract, paid after, before or during the work.
The determination of the principal in no way affects his work as he isn't bound to the company as an employee and is a free agent. He is a professional who is not slack in his work and works efficiently to earn his pay
Answer:
cost effectiveness
Explanation:
In simple words, cost effectiveness refers to the attribute of some data or report in which the benefits of operations comes more than the cost leading to overall profit situation of the firm. As per the accounting standards, accounting information should be neutral, relevant and complete but cost effectiveness traits sometimes leads to some unethical practices like misleading information or misrepresentation.
Thus, cost effectiveness can be seen as a constraint on the accounting information as it works as an incentive to mislead the stakeholders or otherwise it could lead to damage to the firm in many ways.
Answer:
The opportunity cost of each pipe and sunk cost of each pipe is $ 8 and $6 respectively.
Explanation:
Opportunity cost: The opportunity cost is that cost which gives the best alternatives options.
Sunk cost: The sunk cost is that cost which is incurred in the past and hence, not recovered in the future.
So, in the given question, the opportunity cost is $8 per pipe as it reflects new current price whereas, the sunk cost is $6 per pipe ($8 per pipe - $2 per pipe) that cannot be recovered in the future
