Market and command economy
Answer:
3. Correctly ignored a sunk cost
Explanation:
Sunk costs refer to those costs which have been incurred in the past and which can no longer be recovered. For example, past expenditure on research and development with no current or future benefits represent sunk costs which can no longer be recovered.
Sunk costs are irrelevant for decision making process as they do not relate to current projects and yield no economic benefit.
In the given case, Manuel had already purchased a $10 movie ticket, which can neither be transferred nor eligible for a refund. Later when he does not exercise the option of going for the movie and opts for a concert instead, the amount of 10$ spent on the movie represents a sunk cost which is non recoverable.
If Philip B decided to formulate a lower-price, lower-quality hair care line, it should sell this new product line at Target and other big-box retailers. This is further explained below.
<h3>What is
retail?</h3>
Generally, retail is simply defined as a trade often known as "consumer sales," which refers to the practice of selling products directly to end-users rather than wholesalers or retailers.
In conclusion, If Philip B were to create a new, lower-priced, lower-quality line of hair care products, it would be well-served to market these goods at Target and other discount department stores.
Read more about retail
brainly.com/question/15877511
#SPJ1
Answer:
B. Because of the changes in production levels, under variable costing the unit product cost will change each year
Explanation:
In variable costing, Product Cost is the total of variable manufacturing costs only. Whereas in Absorption costing, the Product cost is the total of both variable and fixed manufacturing overheads.
The following statements is not correct : Because of the changes in production levels, under variable costing the unit product cost will change each year.
