The market structure of the producer will be described as ''Perfect Competition".
As in perfect competition, there are homogenous goods or products from different sellers involved in the market. While monopoly completion also involves many sellers but the products in the market are differentiated (non-homogenous).
Undifferentiated or homogenous goods are less effective on the market as there are too many sellers in the market. Due to that in the above condition a producer is producing the respective goods on a smaller level.
So, he will not affect the market and this clearly shows that the market is perfectly competitive by structure.
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Answer: Option (c) is correct.
Explanation:
The short run Phillips curve represents the trade off between unemployment and inflation. This means that if there is an increase in the inflation rate then as a result unemployment rate decreases and if there is an increase in the unemployment rate then as a result inflation rate decreases. There is an inverse relationship between unemployment and inflation rate.
The long run Phillips curve is a vertical line which is at a point of natural rate of unemployment and short run Phillips curve is L-shaped.
Answer:
Paired Comparison
Explanation:
Paired Comparison is a type of job evaluation method in which individual jobs are evaluated in relation to every other job, based on a ranking system, and an overall score is given for each job, determining the highest-valued job to the lowest-valued job. Here in paired comparison method an employee's work is basically evaluated by looking to every job being performed in that organisation, then after doing the comparison the relative scores are assigned to the job which needs to be evaluated. This method is different to the methods which most organisation use where jobs are evaluated specifically on the basis of your skills, performance and your knowledge. One of the drawback which this method has is that the employees start comparing themselves with other employees, not their job but their personalities and knowledge etc. which in turn creates jealousy factor which in return can decrease the overall performance of organisation.
Answer:
$3.75
Explanation:
As we already know that
Direct materials quantity variance = (Budged pounds of direct material - Actual pounds of direct material) × Standard rate
$1,500 unfavorable = (4,400 pounds - 4,800 pounds) × Standard rate
$1,500 unfavorable = 400 × Standard rate
So, standard rate is
= $1,500 ÷ $400
= $3.75
We simply applied the above formula
Answer:
The number of units that must be sold is A. 6,540 units
Explanation:
The number of units must be sold to meet the target profit figure are calculated by using following formula:
The number of units must be sold = (Total fixed cost + Targeted profit) / Contribution margin per unit.
Contribution margin per unit = Sales price per unit – Variable cost per unit = $154 - $99 = $55
The number of units must be sold = ($313,500 + $46,200)/$55 = 6,540 units
