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Nadya [2.5K]
3 years ago
13

If average product is increasing, then marginal product Select one: a. must be greater than average product. b. must be less tha

n average product.

Business
1 answer:
netineya [11]3 years ago
4 0

Answer: Option (a) is correct.

Explanation:

Figure attached with this answer shows the two curves, namely, average product curve and marginal product curve.

Marginal product refers to the change in the total output divided by the change in the quantity of inputs used.

Average product is calculated by dividing the total output produced with the quantity of inputs or factors of production used.

The relationship between marginal product and average product is explained by three phases:

(1) Average product is rising,

Marginal product is greater than the average product.  

(2) Average product is maximum,

Marginal product is equal to average product.

(3) Average product is falling because of diminishing marginal utility,

Marginal product is less than the average product.

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Laura smiles as her employees file into the meeting room of the small vet clinic for their weekly staff meeting. Laura has owned
zaharov [31]

Answer:

Adjourning

Explanation:

The adjourning is the stage where the team would be disperse when the project is finished

As in the given situation, since Laura's team has completed the project and they are moved to the other responsibilities

So as per the given situation, the team development represent the adjourning stage

hence, the same is relevant and considered too.

5 0
3 years ago
Over the last few months, Juan and his colleagues have analyzed the current business situation and identified target markets for
Mashcka [7]

Answer:

D. a marketing strategy.

Explanation:

Marketing strategy: It is long term approach to develop or penetrate market. Every stage of product life cycle require different marketing strategy. There are different analysis been done to come out with one marketing strategy that will help the company to achieve their primary objective. Strategy for marketing mix, such as product, prices, distribution and promotion are one of the most important strategy to tap the market and gain competitive advantage.

In the given case, Juan and his colleagues have developed a marketing strategy to gain more market share in their target market and how they can gain competitive advantage.

3 0
3 years ago
Consider the following information for Maynor Company, which uses a periodic inventory system:
katrin [286]

Answer:

A. FIFO - 78 units and $7,770 and Cost of Goods Sold $12,738

B. LIFO - Inventory Valuation $7,312 and Cost of Goods Sold $13,196

C. Weighted Average - inventory Valuation $7,304 and Cost of Goods Sold $13,204

Explanation:

Detailed calculation as under:

<u>A. FIFO</u>

First 73 Units are sold from the inventory on May 1. Therefore, we first take the beginning inventory units and then we take the next in line purchases made during the period. In this case the first 34 units are completely taken and then out of the 44 units only 39 units are taken.

Next 68 units are sold from the inventory on October 28. Now we will take the remainder 5 units bought on March 28 (which are not yet sold). Then we take 63 units out of the 68 units purchased on August 22.

The company's ending inventory on FIFO Basis is remaining 5 units bought on 22 August and 73 units bought on 14 October. There total value is (5 x 94) + (73 x 100) = $7,770

Cost of Goods Sold = Total Goods Cost available for sale - Inventory ending valuation

$12,738 = $20,508 - $7,770

<u>B. LIFO</u>

First 73 Units are sold from the inventory on May 1. Therefore, we first take the units purchased on 28 March and then we take the beginning inventory. In this case the first 44 units are completely taken and then out of the 34 units only 29 units are taken.

Next 68 units are sold from the inventory on October 28. Now we will take the units bought on 14 October i.e. 68 units out of the 73 units bought.

The company's ending inventory on LIFO Basis is remaining 5 units in the beginning inventory, remaining 5 units bought on 14 October and 68 units bought on 22 August. There total value is (5 x 84) + (5 x 100) + (68 x 94) = &7,312

Cost of Goods Sold = Total Goods Cost available for sale - Inventory ending valuation

$13,196 = $20,508 - $7,312

<u>C. Weighted Average</u>

In order to calculate Weighted average cost method we divide the total cost of inventory (Beginning and Purchased) with the total units, this yields average cost per unit. Then we multiple the average cost per unit with the units remaining after sales. As shown below:

$20,508 / 219 = $93.64 per unit

$93.64 x 78 units = $7,304

8 0
3 years ago
A(n) ____ activity is one that happens on a regular basis.
astra-53 [7]
A recurring activity is one that happens on a regular basis. These activities usually are very similar and refer to the same thing and objective. Recurring activities that an organization carries out in order to enhance its efficiency and its ability to meet requirements can lead to c<span>ontinual improvement.
</span>

6 0
3 years ago
Read 2 more answers
Wolery Inc. has provided the following data concerning one of the products in its standard cost system. Inputs Standard Quantity
nadezda [96]

Answer: The labor efficiency variance for the month is closest to: $2576

Explanation:

Given:

Actual output 8,800 units

Actual direct labor-hours 1,610 hours

Actual direct labor rate $ 23.30 per hour

The labor efficiency variance for the month is computed as :

The labor rate variance = Actual hours×(Actual rate - Standard rate)

=1610 ×($23.30-$21.70)

=$2576

7 0
3 years ago
Read 2 more answers
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