Answer:
The correct answer is ) constant returns to scale.
Explanation:
Because in the long term there are no more fixed inputs, the distinction between variable and fixed inputs disappears and there are no CFT or CVT curves. In reality, it is only necessary to look at the nature of the shape of the average cost curve in the long term. Suppose that technological constraints allow a company to choose between the construction of three plants of different sizes: small, medium and large.
This line is called the average long-term cost curve (CPLP) and shows the minimum unit cost for any production when all inputs are variable and it is possible to build all plant sizes. The dashed lines of the CPCP curves always correspond to higher costs for each production than can be obtained with plants of other sizes.
Obviously, the final choice will depend on market demand and consumer demand trends, generally favoring larger plants in future proposals. Otherwise, the medium plant will be the most attractive, due to its lower investment requirements. Usually the firm will have more than 3 sizes to choose from. When this number tends to infinity, the CPLP curve encloses the CP curves and is tangent to them.
Answer: Micheal will earn an interest of $600 in the first year based on nominal interest rates.
Since we need to compute the interest paid out at the end of year 1, we use the following formula in order to find the interest
where
SI = Simple interest
P = Principal or initial amount invested
N = Number of years
R = Nominal interest rate
Nominal interest rate refers to the rate quoted on the CD or the rate agreed upon. In this question, the nominal interest rate is 3%.
Substituting the values in the formula above we get,
Answer:
Premium
Explanation:
Kelly's kitchen in offering kids meal with every purchase of its luxury meal pack; this is an effective method to attract customers and to improve overall sales. The method which Kelly's kitchen has opted for is known as premium. The kitchen is offering a premium or an incentive to every customer who buys their luxury meal pack. Premium is an incentive which is offered in this example.
Answer:
$102
Explanation:
Given that,
Direct materials per unit = $60
Direct labor per unit = $22
Variable overhead per unit = $8
Fixed overhead for the year = $528,000
Units produced = 44,000
Fixed overhead = Fixed overhead for the year ÷ Number of units produced
= $528,000 ÷ 44,000
= $12 per unit
Total product cost per unit under absorption costing:
= Direct material per unit + Direct labor per unit + Variable overhead + Fixed overhead
= $60 + $22 + $8 + $12
= $102
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