Whenever there is maximization of total surplus that is been received by those that are part of society by market allocation of resources then there is market Efficiency.
- Economic efficiency can be regarded as economic state whereby there is allocation of resource to serve each individual or entity in way that everyone is satisfied while minimizing waste and inefficiency.
Therefore, When there is an economy efficiency, there would be maximization of total surplus.
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Answer:
Variable overhead efficiency variance= $600 unfavorable
Explanation:
Giving the following information:
Standard rate per direct labor-hour $2
Standard direct labor-hours for each unit produced 3
Units manufactured 1,000
Actual direct labor-hours worked during the month 3,300
<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>
<u></u>
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Variable overhead efficiency variance= (1,000*3 - 3,300)*2
Variable overhead efficiency variance= $600 unfavorable
Answer:
Bond Value is $347.30
Explanation:
Zero coupon bond does not offer any return on the bond that's why it is issued on deep discount value.
Number of years = n = 20 years
Face value = F = $1,000
YTM = 5.43%
Price of the Bond = [ F / ( 1 + r )^n ]
Price of the Bond =[ $1,000 / ( 1 + 5.43% )^20 ]
Price of the Bond =[ $1,000 / ( 1.0543 )^20 ]
Price of the Bond = 347.30
A weaker Yuan against the US dollar makes Chinese exports cheaper, increases demand, and makes US exports to China more expensive, thereby reducing the demand for US exports.
<h3>What is international trade?</h3>
International trade is the global exchange of goods and services among countries of the world, involving the use of the foreign exchange.
The three types of international trade are:
- Export Trade
- Import Trade
- Entrepot Trade.
Thus, by manipulating the Yuan, the Chinese government ensures that it has a more competitive advantage over the United States in international trade.
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Answer: market share
Explanation:
Product quality simply has to do with the addition of features that have the necessary capacity to meet the needs and wants of the consumer and ultimately give the customers satisfaction through the improvement in products and also making them defect free.
Product quality is ultimately reflected in the markett share and the price that customers are willing to pay.
