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Answer:
<em><u>Higher</u></em>
<u>Explanation</u>:
This occurs because there tends to be greater demand for housing in Denver, but home owners supply of houses would be minimal, <em>thereby</em> reducing the availablity of homes.
This creates a situation where the law of demand and supply applies, thus leading to an even greater cost of housing above the price ceiling.
Explanation:
The three components of democratic capitalism are: private ownership of the means of production, the labor market and the exchange of products in a market whose profit is obtained.
When imagining an economic context without free companies, the scarcity would be increasing and there would be an economic slowdown that would impact the lives of thousands of people and lead to an increase in poverty, hunger and starvation.
Such problems could also happen without a freely elected government.
Therefore, ethical and moral values must be considered as the basis of any economic system, so that all market mechanisms flow in order to satisfy the needs of citizens with regard to products, services, employment and dignity.
Answer:
Growth stage, Maturity stage
Explanation:
Product life cycle can be defined as the various stages that a product undergoes from the period that it is brought into the market to the period in which it is withdrawn from the market.
The four stages involved in the product life cycle include:
- Introduction stage
- Growth stage
- Maturity stage
- Decline stage
Growth stage is the stage in which the product experience a high rate of sales and profit. In this stage the public is fully aware of the product potential. There is also a high level of competition in this stage.
Maturity stage Is the stage in which the sales of the product begins to reduce. In this stage, saturation of the product in the market is attained. A lot of companies begin to think of new ways to rebrand their products to meet up with the new market trends.
Answer:
Variable cost per unit is $9 and the fixed cost is $29,500
Explanation:
The computation of the variable and fixed components are shown below:
For variable cost per unit, it equals to
= (High cost - low cost) ÷ (High associated cost drivers - low associated cost drivers)
= ($92,500 - $60,100) ÷ (7,000 - 3,400)
= $32,400 ÷ 3,600
= $9 per unit
Now the fixed component equal to
= (High cost) - (variable cost per unit × high associated cost drivers )
= $92,500- ($9 per unit × 7,000)
= $92,500- $63,000
= $29,500
