Answer:
The statement is true.
Explanation:
Unit elastic is described as the demand or supply curve that is perfectly responsive to the changes in the price. In other words, the demand or the quality supplied will change or vary in accordance with the same percentage as the change in price.
The curve which has elasticity of 1 will be called as unit elastic.
Answer:
Law 2
Explanation:
In probability. As bigger the group we are trying to predict , the higher probability to be more accurate
Answer:
С. $1,350.00 Favorable
Explanation:
The computation of the material price variance is shown below:
= Actual Quantity × (Standard Price - Actual Price)
= 9,000 × ($19.15 - $171,000 ÷ 9,000)
= 9,000 × ($19.15 - $19)
= 9,000 × $0.15
= $1,350 favorable
The actual price is computed below:
= Actual cost of materials purchased ÷ Actual materials purchased
= $171,000 ÷ 9,000
= $19
Answer:
15.384 units
Explanation:
Break even point is the point at which income from the business is equal to cost incurred. When income is higher than this point, then business is making profit. But when income is less it is a loss.
Using the break even formula
Break even= Fixed cost/(Sales price- cost per unit)
Break even = 3000/(15-3)
Break even = 3000/13= $230.769
To get break even in units sold divide by price of one unit = 230.769/15= 15.384 units
