Answer:
capability of coordinating highly complex tasks while paving way for specialized division of labor.
Answer:
Explanation:
The revenue of NSU will rise if only the price elasticity of demand for the courses at NSU is elastic.
This will happens because when a commodity has elastic demand, the increase in its price leads to a rise in consumer’s total expenditure. Revenue will drop if the price elasticity of demand for the courses at NSU is not elastic (inelastic).
This will happen because when a commodity has inelastic demand, increase in its price will lead to reduction in consumer’s total expenditure
Revenue will remain unchanged if the price elasticity of demand for the courses at NSU is unit elastic.
This will happen because when a commodity has unit elastic demand, increase or decrease in price of commodity will not make any change in total firm’s total revenue.
Answer:
<u>FIFO</u>
total ending inventory 11,080
COGS 10,200
<u>LIFO</u>
ENDING 10,200
COGS 9,480
For taxes reasons it would be better to use FIFO as the COGS is higher then, less income taxes
The higher net income will be with the method of lower COGS which is LIFO
Explanation:
beginning 100 at 78
40 at 80
60 at 82
40 at 94
<em>FIFO </em>
the ending inventory will be the last units: as the first are being sold
40 at 94
60 at 82
30 at 80
<u>total ending inventory 11,080</u>
<u>COGS</u>
100 at 78 and 10 at 80 = 10,200
<em>LIFO</em>
here the ending inveotry are the first unit while the COGS the last:
ending
100 at 78
30 at 80
ENDING 10,200
<u>COGS</u>
40 at 94
60 at 82
10 at 80
total 9,480
The <u>law of increasing relative cost </u>states that the opportunity cost of producing a good always rises as one produces more of it.
According to the law of increasing costs, production eventually loses efficiency as it grows. The labor expenses for each additional item will increase, for instance, if increased production requires overtime work from your workforce.
Opportunity cost is the value of other commodities or services you must forgo in order to get your desired item. The term "cost" as used by economists often refers to opportunity cost. Cost is frequently mentioned in conversations or on the news.
According to the law of increasing opportunity cost, the cost of manufacturing the next unit rises as you keep up with the production of a given good.
Find more about opportunity cost
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