Answer:
The point with the largest vertical distance between the total revenue and total costs represents the point at which production is maximized and profit is maximized
Explanation:
Profit refers to the vertical distance between the total revenue and total cost. The largest vertical distance between the total revenue and total cost is the point at which production and profit are maximized.
Answer: b. movement along SRAS
Explanation:
When the price level changes due to an increase in the demand that forces the Aggregate demand curve to shift rightward, the immediate effect would be that the Aggregate demand curve would intersect the Short Run Aggregate supply at a new point.
This new point will see a movement <em>along </em>the SRAS from its previous equilibrium point to the new equilibrium intersection point with the AD curve. In other words, the new point will be on the same SRAS curve just moving from one point to another.
Answer: Implement a risk response plan in order to ensure availability of alternate venue location
Explanation:
Once the decision has been made and approved, the next thing to do is to implement a risk response plan in order to ensure that the alternate venue location is available.
Risk response planning simply means having other options in order to improve opportunities and so that the threat to the achievement of s particular objective can be minimized.
In this case, it is important that the alternative location is available in case there's a rain.
Answer:
1. Keynesian economists think that <u>_Income</u> is the key determinant of consumption and spending.
2. Classical economists think that the higher the _interest rates____, the more people will save, which means that they will consume less.
3. A person's _<u>expectations </u>about how much income he/she will earn in the future as well as future prices could shape how much he/she spends and saves today.
4. The more _<u>wealth</u> the person has, the less current consumption he/she undertakes.
5. A person's total income can be divided into three components: consumption, savings, and <u>household debt</u>.
6. Savings, which is total income minus consumption and taxes, can be used to create more __<u>taxes</u>.
$2,340 is Glasgow's ending inventory under LIFO.
LIFO stands for “Last-In, First-Out”. It is a method used for the purpose of assuming cost flows when calculating the cost of goods sold. The LIFO method assumes that the newest products added to the company's inventory are sold first.
In times of rising prices, it may be beneficial for companies to use LIFO versus FIFO cost accounting. Under LIFO, businesses can save on taxes and also better align their income with the latest costs when prices rise. International Financial Reporting Standards (IFRS).
The order in which an element is added to or removed from the stack is described as last in, first out, abbreviated as LIFO.
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