The knowledge of cost behavior is important for managerial decision making as, having a thorough knowledge about this enables the manager to predict whether any costs will decrease or increase as business activity changes.
For instance, if a production line is nearing capacity, the relevant cost behavior would be to expect a large cost increase (to pay for an equipment expansion) if incremental demand increased by a small amount. Understanding cost behavior is an essential component of cost-volume-profit analysis.
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Answer:
Xenophobia in government isnt as bad as you think
Explanation:
parties like republicans and democrats call each other buzz words like babies and then play the blame game
Answer:
Industrial waste is waste that comes from the production of con- sumer goods, mining, agriculture, and petroleum extraction and refining. Hazardous waste refers to solid or liquid waste that is toxic, chemically reactive, flammable, or corrosive.
Explanation:
Answer:
C: an increase in the price of beer will lead to an increase in revenue for beer sellers and beer is a normal good.
Explanation:
Because the price elasticity of beer is negative -0.3, this implies that an increase in the price of beer by $1 would lead to a decrease in the demand of beer by 0.3 units and such increase will lead to an increase in revenue of beer seller. However, the income elasticity of beer is 0.09, which implies that the consumption of beer increases with an increase in income, which makes beer a normal good.
