Answer:
In order for effective price discrimination to occur, the seller must have a downward sloping demand curve.
Explanation:
The seller must also have at least two identifiable groups of customers with price elasticities of demand for the product, and the seller must be able to prevent customers from reselling the product.
Answer:
The correct answer is B: $46,400
Explanation:
The difference between absorption and variable costing is that the first one includes fixed manufacturing overhead in the manufacturing cost.
Giving the following information:
Absorption costing:
Direct materials= 30,000
Direct labor= 38,000
Variable factory overhead= 8,000
Fixed factory overhead= 40,000
Total= $116,000
Unitary cost= 116000/10000= $11.6
Ending finished inventory= 4000*11.6= $46,400
Answer:
increase in output, but not in the equilibrium price of the product.
Explanation:
The options weren't provided. The full question can be found here - https://www.chegg.com/homework-help/questions-and-answers/perfectly-competitive-industry-x-constant-costs-product-inferior-good-industry-currently-l-q39354625
An inferior good is a good whose demand increases when income falls and whose demand falls when income rises.
When average income falls, the demand for good X rises. The level of output increases as a result of the rise in demand but price doesn't change.
I hope my answer helps you.
Answer:
Explanation:
Profit is the surplus revenue after a firm has paid all its costs. ... In a capitalist economy, profit plays an important role in creating incentives for business and entrepreneurs. For an incumbent firm, the reward of higher profit will encourage them to try and cut costs and develop new products
