The statement " Continued losses in an industry will cause some firms to reduce output or eventually leave the industry " is True
Explanation:
The goal of all businesses is to reduced risk and reduce expenses while retaining productivity and deliver a good product at a consistent rate and cost.
Although company owners know how much they can deliver under optimum organisational and financial conditions, this volume is seldom consistently produced by most firms. Unexpected events inevitably lead to less than the expected amount.
For example, a computer may stop working, and employees can stop producing while waiting for machine repairs. In other situations, production is slowed down or halted by planned events.
Answer:
In this section, we are going to take a closer look at what is behind the demand curve and the behavior of consumers. How does a consumer decide to spend his/her income on the many different things that he/she wants, i.e., food, clothing, housing, entertainment? We assume that the goal of the consumer is to maximize his/her level of satisfaction or joy, constrained by his/her income.
Economists use the term utility as a measure of satisfaction, joy, or happiness. How much satisfaction does a person gain from eating a pizza or watching a movie? Measuring utility is based solely on the preferences of the individual and has nothing to do with the price of the good. Let’s do an experiment in utility.
Step 01: Get some of your favorite candy, pastries, or cookies.
Step 02: Take a bite and evaluate, on a scale from 0 to 100 (with 100 being the greatest utility), the level of utility from that bite. Record the marginal utility of that bite (i.e., how much you get from that one additional bite).
Step 03: Repeat step 02. It is important to be consistent with each unit consumed, i.e., the same size and no drinking milk or water part way though. When you run out of candy or your marginal utility goes to zero you can stop.
Law of Diminishing Marginal Utility
Answer:
1. Job employement and enductaion is related because without education we ccannot do any type of employement so they are realated
Explanation:
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Answer:
B. 6.2 DLH per unit of G2
Explanation:
Total cost per unit of G2:
$20 = DM + DL + OH
$20 = $7 + $3.60 + X
$20= $10.6
$20- $10.6
= $9.4
X = $9.4 overhead per unit of G2
Therefore the Plantwide overhead rate is:
$795,000/530,000 DLH = $1.5 per DLH
DLH per unit of G2:
$9.4/$1.5 = 6.26 DLH per unit of G2