Is there some sort of word bank or something?
Answer:
The marginal revenue = $2
Explanation:
Firstly we calculate the value in dollars for the number of boxes sold
For 100 boxes, we have 100 * 2 = $200
For 200 boxes, we have 200 * 2 = $400
Mathematically, the marginal revenue = (cost of 200 boxes- cost of 100 boxes)/difference in quantity
= (400-200)/(200-100) = 200/100 = $2
Thus affirms the fact that for a perfectly competitive firm, marginal revenue MR = P (price)
Answer:
Culture is the ability to define a group of people. subculture is a group within a culture that differs from the general consensus.
Answer:
scarcity means that a good is limited in supply, relative to it's demand.
Explanation:
By limited, it means that the available resources are not enough for the satisfaction of a need.
Price hikes tells us of scarcity of a resource. When the price of a resource or good gets increased or is continuously increasing the price of the resource may show that it is scarce.
Management have to allocate resources in such a way that they do not have to run out of the resources or or they may decide to use substitute resources.
Answer:
Total overhead rate = $34.17 per machine hour
Explanation:
The total overhead rate would the sum of the variable overhead rate and the fixed overhead rate
<em>The pre-determined fixed overhead absorption rate = Estimated fixed overhead /Estimated machine hours </em>
<em>DATA:</em>
<em>Estimated overhead - $256,500.</em>
<em>Estimated machine hours - 10,000 machine hours</em>
The pre-determined fixed overhead absorption rate =
$256,500/ 10,000 machine hours = 25.65 per hour
<em>The pre-determined overhead absorption rate = $25.65 per hour</em>
Total overhead rate = Variable rate + Fixed rate
= $8.52 + $25.65 = $34.17
Total overhead rate = $34.17 per machine hour
