Answer:
Contribution per unit
= Selling price - Variable cost per unit
= $27 -$13
= $14
Contribution margin ratio
= Contribution per unit
selling price
= $14
$27
= 0.518518518
Break-even point in dollars
= $1,400
0.518518518
= $2,700
Explanation:
Break-even point in dollars equals fixed cost divided by contribution margin ratio. Contribution margin ratio is equal to contribution per unit divided by selling price. Contribution per unit is selling price minus variable cost per unit.
Answer:
Income
Explanation:
Suppose the market wage for cashiers increases from $7 per hour to $9 per hour. As a result, Pat, who is a cashier, now works five more hours per week. On the other hand Chris, who is also a cashier, now works five fewer hours per week.Chris's behavior illustrates the <u>Income</u> effect of a wage increase.
As the income increases, few individual prefer to work fewer hours as now they are able to maintain target by working fewer than at previous wage rate. These people prefer leisure over higher income and want to settle down with limited income. These people may have a backward bending individual labour supply curve – they may choose to work fewer hours when the wage rate rises.
All of the above. Firstly, some students may not have the right learning environment to be able to learn in the area they live in so, school help provide a better environment to learn. Secondly, online tutoring as someone may be severely ill or just cannot attend for whatever the reason and with government standards children should have an education. Lastly, supplemental instruction as some student have more of a difficult subject that they tend to struggle with nd so school provides interactions for student to engage and get different ideas and views on certain topics.
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Chicken wing chicken wing hot dog and bologna
The waiting time will be 30 minutes because 30 minutes at $8 per hour adds $4 to the price. Therefore, making the full price equal to $5 for each buyer clears the market.
<h3>What is the price ceiling?</h3>
A price ceiling is a price control mechanism by the government to intervene in the market forces of demand and supply by setting a maximum price.
While price ceilings are imposed to make prices low for consumers, it may cause shortages in the quantities supplied.
Thus, the waiting time will be 30 minutes because 30 minutes at $8 per hour adds $4 to the price.
Learn more about price ceilings at brainly.com/question/4120465
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