Answer:
Instructions are below.
Explanation:
Giving the following information:
According to the standard cost card, each helmet should require 0.55 kilograms of plastic, for $7.00 per kilogram.
First, we need to calculate the standard quantity of plastic to make 3,600 units.
Standard quantity= standard direct material required per unit* numbers of units
Standard quantity= 0.55*3,600= 1,980 kg
Now, we can determine the standard cost:
Standard cost= 1,980kg* $7= $13,860
When an economist says that "Kevin's income elasticity of red wine is 6" he means that if Kevin's income increases by 10%, the quantity of red wine demanded by Kevin rises by 60%. So, red wine is income elastic. Since the income elasticity is greater than 1, red wine is a luxury good for Kevin.
Income elasticity measures the change in the quantity of goods demanded relative to a change in income.
If an increase in income results in a decrease in the quantity of goods demanded, then that good is an inferior or cheap good. The income elasticity of a cheap good is negative.
If the demand for a good rises with an increase in income, then that good is a normal good. The income elasticity of normal goods is greater than zero.
If an increase in income results in a greater increase in the quantity of goods demanded, then that good is a luxury good. The income elasticity of a luxury good is greater than 1.
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If this is a true or false question, then the answer is False. It is not the packaging that determines the product from the competitors but the branding. A brand is an identification of its manufacturing company, it may comprise a name, symbol and/ or design.
Answer:
B) False
Explanation:
Under the cost benefit analysis a statement is prepared in order to compute the financial aspects of the transaction.
This clearly provides for the estimate to be made towards all the transactions.
But there is a problem in such analysis that exact estimate or even nearby estimate in terms of amount is not feasible to be computed of benefits and cost as well.
And significantly all the benefits can not be traced monetarily.
