Answer: The answer is b
Explanation:
The concept of advertising response function is based on the theory of marginal physical product and shows the relationship between advertising and the level of consumption of the goods by the consumers. The theory of marginal physical product states that when there is a change in total product resulting from one unit change in the quantity of the resources used per unit of time. When average product is increasing ,marginal physical product is greater than average product,when average product is maximum ,marginal physical equals average product .when average product is decreasing marginal physical product is less than average product.The theory of marginal physical product can also be called the law of diminishing return which states that if increasing quantities of one factor of production are used in conjunction with a fixed quantity of other factors then, after a certain point each successive unit of the variable factor will make smaller and smaller addition to the total output. In this case, the law tells the Trend Inc when to stop adding more input of the variable factor to a fixed factor.
Invariably, we are saying that it high time for Trend Inc, should spend proportionately less on advertising than on newer line. It should now spend more money on bringing of new product into the market than spending more on the advertisement of the sport shoes because at a certain point the demand for the old product will fall when diminishing return must have set in on the product demand.
Prime cost=direct material+direct labor
4800000=1900000+direct labor
Solve for direct labor
Direct labor=4800000-1900000
Direct labor=2900000. ..answer
If you try with the formula of the conversation cost to solve for direct labor, you will get the same answer
The formula of the conversation cost is
CC=direct labor+factory overhead
Hope it helps!
Answer:
The answer is: FALSE
Explanation:
The US total workforce is not expected to decrease, not even because the baby boom generation may start to retire. The total labor force in the US was estimated to be 160 million people in January 2018. The total labor force has been steadily increasing since 1960 except during the great recession period between 2009 and 2011.
Answer:
No
Explanation:
Wants are the items or things we desire to have. They make our lives pleasant and more comfortable. We buy wants for leisure or fun. We can live and survive without wants, although they make life enjoyable.
Unlike wants, needs are the things we require to survive. Needs include food, shelter, water, clothing, and other basic requirements for life, such as health care. While needs can be satisfied to a certain degree, human beings have insatiable wants. Care should be taken not to incur too many debts to meet one's wants. Prioritizing wants may lead to too much debt, which may end being counter-productive. As want makes lives more comfortable, too much debt causes financial distress, sadness, or even bankruptcy.
