Answer: A. make rational economic decisions.
Explanation:
The marginal benefits refer to the maximum payment that a consumer will make for an additional good or service.
Marginal cost is the additional cost involved in manufacturing a product with an additional service, due to the additional manufacturing of the product.
These two measures determine how the value of a product should change; if the price increases or decreases due to marginal benefit or marginal cost.
For example, <em>when buying one unit of a product the cost is usually higher than when buying multiple units. Likewise, when a product is purchased that has exclusive use or whose unit creation is high, the cost of the product will also be high due to its marginal benefit.</em>
<em>I hope this information can help you.</em>
Answer:
$32,000
Explanation:
Cost of goods sold refers to all direct expenses incurred in producing goods and excludes all selling and indirect costs.
Cost of goods sold = Sales value - Gross Profit
Gross profit = Sales value - Direct costs - overhead costs
Gross profit per unit = $120 - ($50 + $ 20 + $10)
Gross profit per unit = $40 per unit
Gross profit in value = $40 per unit × No of units = $40 × 400 units = $16,000
Budgeted sales value = Selling price per unit × Budgeted sales units
= $120 × 400 chairs = $48000
Thus, budgeted cost of goods sold = Budgeted sales value - Gross Profit in value
= $48000 - $16000 = $32000
<u>Note</u>: While computing gross profit, selling and administrative expenses would be excluded since those are used while computing net income. Also, cost of goods sold excludes selling and administrative i.e . indirect costs.
First of all, the laissez-faire economics is also known as hands-off apporach. This is from the 19th century. The leaders of the Middle class had a good reponse by embracing this type of approach. Some of the people looked to modify this kind of apporach for the government to have more control. Generally was accepted but also wished to be modified in order for the high class leaders to get control
