Income Approach seems to fit best but i'm not quite sure.
Sorry if it's wrong.
The statement above is popularly referred to as Whorfian hypothesis. The hypothesis states that language directly affects the way people think about the world and the way they perceive it, thus it holds the idea that one's language determines one's conception of the world.
Answer: See explanation
Explanation:
1. Inelastic demand occurs when a change in price doesn't really have an effect on the quantity of the goods demanded. Examples of products with inelastic demand are salt and prescription drugs.
2. Elasticity for demand helps in the determination of the prices of factors of production. It is also vital in knowing how price changes will affect the revenue of the firm.
3. Normal goods are the goods that when income increases, the demand for them increases as well e.g. household appliances
For inferior goods, when Income increases, their quantity demand reduces. These are common with extremely cheap products.
The supply curve slopes upward represents increasing marginal costs with an increase in production.
<h3>Why does the supply curve slopes upward?</h3>
Because businesses would typically be more motivated to produce a good as its price increased, the supply curve slopes higher. Additionally, because companies are effective and would use up the cheapest manufacturing inputs first, the cost of production tends to grow as output increases.
<h3>What are the reasons why the supply curve increases or decreases?</h3>
The market becomes unbalanced as a result of a change in supply shifting the supply curve, which is then corrected by a change in pricing and demand. The supply curve changes right when the change in supply increases, while it shifts left when the change in supply decreases.
To know more about supply curve visit:
brainly.com/question/6075885
#SPJ4
Answer:
a) Predetermine overhead rate = 1710000/95000 = 18 per machine hour
Applied overhead = 18*75000 = 1350000
Under applied overhead = 1687500-1350000 = 337500
b) Cost of godos sold allocated amount of under applied overhead if fully allocated on cost of goods sold = 337500
Cost of goods sold allocated amount of under applied overhead if allocated on appropriate accounts = 337500*759375/1350000 = 189843.75
Difference in net income = 337500-189843.75 = 147656.25
