The upside of changing its assembling frameworks is to enhanced item quality and lessened preparing time.
JIT and the lean maker has numerous bene±ts including enhanced item quality and diminished handling time, and decreased waste and stock, bring down work and generation costs, and expanded assembling adaptability.
Answer:
C. 1. Identify the actual quantity of output. 2. Calculate the flexible budget for revenues based on budgeted selling price and actual quantity of output. 3. Calculate the flexible budget for costs based on budgeted variable cost per output, actual quantity of output, and actual fixed costs.
Explanation:
Any budget starts by determining our current output level.
To calculate the sales budget we must estimate our total revenue using our current output level and the estimated selling price for the next period. If we are certain that our output level will increase or decrease significantly over the next period, we can use the estimated output level instead of the current output level.
To calculate the costs budget we must estimate the variable costs per unit times the current output level (variable costs budget) and then we add the estimated fixed costs, which are not necessarily our current fixed costs.
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Answer / Explanation:
Before answering this question, let us understand some terms used in the narrative:
Marginal Utility: Utility in itself can be refereed to as the satisfaction derived from the consumption of a particular good or service. However, when we now becomes a marginal utility, it mean we are now paying attention to the level of change in the extra level of satisfaction derived from the particular good and service.
Optimal Consumption: This can be referred to as one of the guiding principle of consumption in an economy, it stipulates that when a consumer maximizes utility or attain maximum satisfaction, the marginal utility per amount spent must be the equal all goods and services in the same class of goods..
In summary it is a state of mind or feeling that people get a certain level of joy utility from consuming goods and service while Marginal utility is the benefit of consuming an extra unit of that product.
Now referring back to the question and answering it,
If Connie is making optimal consumer choices, the ratio of marginal utility to the price should be the same for both goods. Hence, the price of coffee is 3/2 as much and these ratios are equal and the marginal utility of coffee must be = 3/2 as high as that of tea at the quantities she is purchasing them at.
I believe, this programmed decision could best be described by: Classical Model.
In the classical model of decision making, we based the decision on something that is the most logical and rational.
This model commonly provide the most objective solution but often fail to see how emotions and relationship between members could influence the decisions.
Answer:
true
Explanation:
Based on the information provided within the question it can be said that the statement being made is completely true. Like mentioned in the statement, in an oligopoly the few BIG sellers in a market have complete control over the price. In this scenario Toyota, Ford and GM are the big sellers and when one adjusts their prices the other tend to adjust their prices accordingly in order to not lose their customers to the competition.
