<span>These would be considered outputs. These are the products, services, or funds received as a part of a business transaction. Outputs are anything that a business creates, whether it's a concrete item or is more abstract (such as the enjoyment that a person gets from purchasing the product or service).</span>
Answer:
Material price variance <u>2830 unfavorable
</u>
Explanation:
Material price variance
<em>A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favourable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite
</em>
Standard material cost of 2 $
28,300 grams should have cost (28,300×$6.90) = 195270
but did cost (actual cost - 28,300×$7.00)= 1<u>98100
</u>
Material price variance <u> 2830 unfavorable</u>
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I think the easiest way to track payment of card debts while still saving money is PAYING THE MINIMUM BALANCE EACH MONTH.
The fastest way to pay off card debts is to pay the minimum balance of each card and snowballing payment according to the lowest balance. Do this until you pay off the highest amount of your credit card debts.
Answer:
Health insurance: working without safety equipment
Car insurance: reckless drive
Health insurance: withhold of the information that the insured is a smoker
Car insurance: withhold of the information that insured lives in neighborhood with high crime levels
Explanation:
Moral hazard relates to the behavior that enlarges the possibility of occurrence of undesired events that is insured. In health care the example could be a person that does risky jobs without wearing safety equipment. That is something that can easily lead to that person's deterioration of health at job. In car insurance, that can be reckless drive of an insured. Adverse selection happens when for instance signee of policy insurance withholds certain information, whose revelation would have potential elevating effect on paid premiums. In healthcare it could be non-disclosure of the information that the insured is a smoker, where in the application says otherwise. In car insurance it could be withhold of the information that the insured lives in the neighborhood with high crime level, while in the policy it is stated otherwise.
Answer: relatively elastic.
Explanation:
Elasticity is the measure of the responsiveness that a product's quantity demanded has to a change in its price. In other words, if the quantity demanded changes as a result of a change in price, the good is elastic.
In this scenario, the total revenue fell when they increased price. This means that people bought less of the firm's goods which means therefore that the good is relatively elastic because the quantity demanded was affected by a change in price.
