All categories

4 years ago

Over time, the average consumer will be better off from reduced trade barriers by ________.

Business

1 answer:

AVprozaik [17]4 years ago

6 0

Answer:

a. greater variety and lower prices

Explanation:

Due to the comparative advantages, countries can produce the product that they have proficiency. For example, if there are 2 countries, A and B. A have a skill of producing tasty wine, they can produce better quality of wine than B with the lower cost. When the trade barriers are reduced, the wine from A will be sold in B, the customer will have more choices of wine in the market and the price will relatively less different comparing to the price when the high barriers exist.

You might be interested in

At the start of the month, Oak Inc. had 58,000 units of beginning work in process that were 65% complete. Over the course of the

KIM [24]

According to these figures, Oak has more equivalent units of production for materials and fewer equivalent units of production for conversion costs than Maple.

Explanation:

The equivalent production unit is an indication of a manufacturer's work on the produced units, which are partially finished at the close of the accounting period. In addition the completely loaded units and the partially filled units are entirely fitted out.

The number of partially completed units x percentage of completion = equivalent units of production.

Oak : 58,000 x 65% = 37,700

Oak Equivalent units of production = 37,700

Maple: 61,200 x 60% = 36,600

Maple Equivalent units of production = 36,600

So, Oak has more equivalent units of production for materials and fewer equivalent units of production for conversion costs than Maple.

8 0

3 years ago

A farmer is an example of what kind of producer?

laila [671]

Answer:

Option B Raw goods producer

Explanation:

6 0

3 years ago

The following cost information pertained to the Violin Division of Stringing Music Co. and was based on monthly demand and sales

Nostrana [21]

The contribution margin per unit sold by Violin Division of Stringing Music Co is <u>$326</u>.

<h3>What is the contribution margin per unit?</h3>

The contribution margin per unit is the difference between the selling price per unit and the total variable costs (production and selling) per unit.

<h3>Data and Calculations:</h3>

Monthly demand and sales = 200 units

Per-Unit Costs

<h3>Variable production costs: </h3>

Direct materials $170

Direct labor 155

Variable factory overhead 75

Fixed production costs:

Depreciation (equipment) 15

Factory rent 58

Other 15

Total production cost = $488

Variable selling = $24

Fixed selling & administrative costs = $36 per unit

Selling price per unit = $750

<h3>Total variable cost per unit:</h3>

Direct materials $170

Direct labor 155

Variable factory overhead 75

Variable selling 24

Total variable production and selling costs = $424

Selling price per unit = $750

Contribution margin per unit = $326 ($750 = $424)

Thus, the contribution margin per unit sold is <u>$326</u>.

Learn more about contribution margins at brainly.com/question/24881206

#SPJ1

<h3>Question Completion:</h3>

Variable selling & administrative costs $24 per unit Fixed selling & administrative costs $36 per unit Given a normal selling price per unit of $750, what is the contribution margin per unit sold

4 0

2 years ago

Elvin, a manager at Humble Bee Cereals, is faced with the problem of declining sales. After a thorough examination of the situat

zaharov [31]

Answer: Identify the alternatives.

Explanation:

Elvin is taking the third decision making step which is to identify alternatives. The first alternative in this case is improving the packaging of his products, while the second is offering price discounts.

Decision making involves all the steps required in knowing that a decision ought to be taken, getting the needed information that would inform that decision, and also analyzing alternate steps that could be taken .

Identifying the alternatives involves finding out the various solutions at ones disposal. Elvin identified two alternatives in this instance.

5 0

3 years ago

According to thinking like an economist, economists increasingly believe that the key to progress in macroeconomics lies in

vaieri [72.5K]

It is the consumers

4 0

3 years ago