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2 years ago

explain how the price consumers pay for a good is influenced by the price of the resources that go into making it

Business

1 answer:

Reika [66]2 years ago

4 0

Answer:

Here's an example

I sell bead bracelets for $5.00. The chord I use to make them is $2.50 for 5 feet. Each bracelet needs 1/4 of a foot of chord. That is $0.13 worth of chord per bracelet. The beads I use are 30 beads for $1.00. I use 5 beads in each bracelet. That is $0.17 worth of beads per bracelet. The total price of the materials per bracelet is 30 cents. Let's say It takes me 10 minutes to make a single bracelet. If I sell the bracelet at 30 cents, I would no have made a profit and would instead lose 10 minutes of my time. If I sell it for anything less, I would be losing money and time. If I want to make a profit, I need to add the money I want to make plus the cost of resources. Therefore, if I want to make a profit of $4.70, I must sell the bracelets for $5.00.

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Which probability distribution is commonly used to model the inherent variability of activity time estimates in project manageme

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Beta distribution

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2 years ago

Using college students as the market segment, describe the most relevant reference group(s) and indicate the probable degree of

Sergio039 [100]

Answer and Explanation:

A. Toothpaste brand: Toothpaste is a commonly used, inexpensive, and very popular product. These decisions are governed mainly by the reference group such as family , friends or primary group with whom a student has regular face to face experiences. Hence the purchase decision is affected by a low degree of comparison community.

B. Buying a hybrid car: A hybrid car is sometimes described as expensive and luxury products. It's moreover a non-necessity commodity for a college student. These decisions are therefore usually affected by secondary community. And a high degree of control in the comparison community will only inspire a student to buy a car.

C. Buying cereal for breakfast: This is a simple requirement of a lifetime. Therefore, even without consulting any reference group a student can buy such product. Often such transactions are rules by family group control. So it needs a low degree of control.

D. Becoming a vegetarian: It takes a high degree of influence and motivation to become a vegetarian.

Thus the aspirational group influences a student. So they opt for vegetarianism to become part of such a community. Such decision taking involves a high degree of control.

E. Option of a computer tablet like the iPod: these products are a luxury commodity sold at regular prices. Typically refer to their families , friends, magazines before making a purchase student to get an idea about the output and price of these products. These goods are the weak product with a strong brand and a strong purchase is controlled by a strong reference community impact.

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3 years ago

Beech Manufacturing makes expanded and is now making two products: Standard and Deluxe. Each Standard model takes 1.5 machine ho

Talja [164]

Answer:

Beech Manufacturing

The utilities flexible budget for July is:

= $1,225

Explanation:

a) Data and Calculations:

Utility rate per machine hour = $0.35

Standard Deluxe Total

Predicted production 1,100 770 1,870

Expected machine hours 1,650 3,080 4,730

Units produced 1,200 850 2,050

Standard machine hour/unit 1.5 2

Budgeted machine hours

(flexible budget) 1,800 1,700 3,500

Actual machine hours used 3,400

Utilities Static Budget = $1,655.50 (4,730 * $0.35)

Utilities Flexible Budget = $1,225 (3,500 * $0.35)

Utilities Actual Budget = $1,190 (3,400 * $0.35)

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2 years ago

Because of the substitution problem, the cpi tends to overstate the true change in the price of the typical basket of consumer g

butalik [34]

It is true that because of the substitution problem, the CPI tends to overstate the true change in the price of the typical basket of consumer goods.

A consumer price index measures a market basket of goods and services that households have purchased at a weighted average price.
The measured CPI fluctuates to reflect changes in prices over time.

One of the most popular methods for determining inflation and deflation is the CPI.
An essential gauge of an economy's health is inflation. The CPI and other indexes are used by governments and central banks when making economic decisions.
The decision to raise or cut interest rates is crucial among these.

If the CPI increases, it indicates that the average rate of change in price over time has increased. The cost of living and income are eventually changed as a result of this.

Learn more about CPI here:

brainly.com/question/14453270

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1 year ago