I believe the answer is: C. the invisible hand
The invisible hand that mentioned by adam smith refers to the power of supply and demand. When a certain product is demanded by the consumers in the market, the producers would see it as a potential to obtain profit and become motivated to provide it for them.
Explanation:
Yes, through buying all labor and plant content, engineering services etc., this will relate to GDP. Mind the meaning of yourself. The final market price of all finished products and services.
As well as yes, the gain would have been driven into GDP because it was part of the final volume of skateboards on the market.
And whenever the company spends it in new manufacturing, and the shareholders receiving a portion of the gain in dividend payments in goods and services find their way back to GDP.
Answer:
Winter Company's total manufacturing costs for the year was $850,000
Explanation:
Manufacturing cost is the cost used to manufacture a product, both direct and indirect cost incurred in manufacturing process are included. It is the total value of material cost, labor cost and overhead cost.
Direct Material Cost = $500,000
Manufacturing overhead applied = $150,000
As we know Manufacturing overhead applied was 75% of direct Labor cost.
Direct Labor cost = Manufacturing overhead applied / 75%
Direct Labor cost = 150,000 / 75% = $200,000
Total Manufacturing Cost = $500,000 + $200,000 + $150,000 = $850,000
Answer:
period of the sale of the product.
Explanation:
As we know that
When we purchase the product in most cases the product warranty comes along with it
So if there is a case of damage or repair than it would be replaced with the new product
Plus the cost of the product warranty should be included as an expense in the period when the product is sold as it is attached to the product and the same is charged by the customer
Answer:
$10.80
Explanation:
Given that:
A first-period efficient allocation cost = $10
The constant marginal extraction cost MEC for both periods = $2
The social discount rate (r) = 10%
∴
The efficient undiscounted market price for the 2nd period can be determined by using the formula: