Direct labor cost is wages that are incurred in order to produce specific goods or provide specific services to customers. The total amount of direct labor cost is much more than wages paid.
Given that 3 workers, working 8 hours in a day are paid $12. The total amount paid to workers are:
12x8x3=$288
The cost of direct labor will therefore be:
450-288
=$192
<span>Scalpers lead to the understanding that there is an overabundance of demand for tickets in comparison to the supply of tickets. With buyers willing to pay a premium for the scalped tickets, this can show that there is the ability for ticket prices to be raised and customers will still purchase them.</span>
Answer:
Possible options are:
A) Enforceable or unenforceable with agent
B) Enforceable via factor agent
C) Enforceable via employee agent
D) Enforceable or unenforceable - no agent
Answer: C
Explanation:
Enforceable And Unenforceable Contracts. A contract may be enforceable or unenforceable. An enforceable contract is one for which a legal remedy is offered in the event that the contract is not fulfilled. A contract may be unenforceable when certain statutory requirements have not been met.
Answer:
A
B
C
Explanation:
A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.
Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives
A person should specialise in the production of goods for which they have a comparative advantage. this maximises total output
Calvin has a comparative advantage in making decals because he is faster compared to Hobbes. He should specialise in making decals.
Hobbes has a comparative advantage in making shirts because he is faster compared to Calvin. He should specialise in making shirts
