Is to collect information
Answer:
The correct answer is option c.
Explanation:
A firm is able to maximize its profit when the marginal revenue earned is equal to the marginal cost incurred. This is true for all market structures whether competitive or imperfect competition.
When the output is produced at the point where marginal revenue and marginal cost are equal, it implies that the last unit produced is adding more to revenue than to costs. And the production of the last unit is increasing profits or reducing losses.
At this point, the marginal profit is zero when the marginal profit becomes negative it implies that the total profit is decreasing. so for profit maximization marginal profit should be zero or marginal revenue should be equal to marginal cost.
Answer:
D) Both government spending and taxes are fixed.
Explanation:
IS curve: IS curve stands for investment and savings. It has a download slope, when liquidity in the market increase, therefore, stimulus injected in the market to increase investment and increase in investment cause multiplier effect on consumption, which leads to an increase in national income and product rises. IS curve shows the combination of consumer demand and investment demand, therefore, both government spending and taxes are fixed.
Answer-
What goods and services should be produced?
How should they be made?
Who consumes these goods and services?
Answer:
Estimated manufacturing overhead rate= $10 per direct labor hour
Explanation:
Giving the following information:
estimated manufacturing overhead= $2,886,000
estimated direct labor dollars= 288,600
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 2,886,000/288,600= $10 per direct labor hour
