Answer:
The correct answer is C. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays.
Explanation:
Consumer surplus arises from the law of diminishing returns. This means that the first unit to acquire we value it highly but as we acquire additional units our valuation falls. However, the price we pay for any unit is always the same: the market price. In this way, we enjoy a positive surplus of the first units we acquire until we reach the last one in which the surplus will be zero.
In graphic terms, consumer surplus is measured as the area below the market demand curve and above the price line. The demand curve measures the amount consumers are willing to pay for each unit consumed. Then, the total area below the demand curve reflects the total utility of consumption of the good or service. If the price we pay for each unit is subtracted from this area, the consumer surplus is obtained.
Answer:
The option for this question are the following:
A. Concurrent
B. Statistical
C. Inventory
D. Feedforward
The correctt answer is D. Feed forward.
Explanation:
Feedforward is the process by which feedback between company members focuses more on future possibilities. That is to say, it is not only about communicating but about doing it thinking about increasing the opportunities that the company has and will be able to have later.
The problem we had when we talked about feedback was that it focused on aspects of the past. Communication was thought of as something of the moment, without determining an intention to take it to another level. The ‘feed’ forward would come into play here.
What is intended with the feedforward is to establish links and ideas, so that teamwork makes business organization easier. Brainstorming and the sharing of solutions and aspects for the company mean that employees can aspire to a positive work future.
Answer:
Please see explanation.
Explanation:
Once the factory overhead rate is determined using the estimated amount of factory overhead and estimated base, it is used to charge overhead cost to the jobs, products or work performed.
Since, not all overhead costs are known at the time of making the product, (such as electricity bill is received after the month end) therefore, the estimated rate is used to apply the overhead cost to the job or product using actual activity level. This is called absorption or application of overheads to the products / jobs.
Due to this, at each period end, the management calculates and compares the actual overhead cost with the applied overhead cost and determine the over or under applied overheads.
Answer: Offer incentives to Customers to reduce Collection time.
Explanation:
Hanson’s Furniture Store should work to reduce the amount of time it takes to collect payments from customers. It takes them over 2 months to collect payments on average and compared to a payables payment in 30 days that's quite troublesome.
They should therefore work to reduce their Receivables Collection time.
One way they can do that is to offer incentives such as trade discounts. A popular one would be the 2/10, net 30 rule. This means that the customer would get a 2% discount if they pay in 10 days or else they will pay the full amount in 30 days. This incentive can go a long way in reducing Payables collection periods.
Answer:
quota sample is the correct answer.
Explanation:
