Answer:
$6.25 per yard
Explanation:
The computation of the standard price per yard of material for its safety suits is shown below:
Material quantity variance = Standard Price × (Actual quantity - Standard quantity)
-$5,000 = Standard price × (10,000 - 10,800)
Standard price = -$5,000 ÷ (-800)
= $6.25 per yard
Hence, the standard price per yard of material for its safety suits is $6.25 per yard
Answer:
to maximize profit, farmer must use 0.208 pounds of fertilizers
Explanation:
For profit maximization, marginal revenue must be equal to marginal cost.
Here marginal product of fertilizer= 1-N/200
selling price per busher= $4
total marginal revenue= (1-N/200)× 4
Total cost of fertilizer= 1.2N
To maximize profit
Marginal cost= marginal revenue
1.2N= (1-N/200)× 4
4.8N= 1-N/200
N= 0.208 pounds
to maximize profit, farmer must use than 0.208 pounds of fertilizers
General Mills sold three
sizes of cereal cheerios at $2.99, $3.99, and $4.49 each. Selling
tactic used by the company is psychology pricing. General Mills used this
technique to
encourage customers to respond on emotional levels rather than logical ones.
<span>Setting
the price of the cereal at $2.99 is proven to attract more consumers than setting
it at $3.00, even though the difference is only $.01. Consumers are said to put
more attention on the first number on a price tag than the last. </span>
