Given the above scenario, the total production in the U.S. and Mexico will be maximized if Mexico focuses on Agricultural produce and the US on Manufactured produce.
<h3>What is product maximization?</h3>
Product maximization refers to the process via which two trading nationalities or entities focus on the goods where they have the least opportunity cost.
Thus, n this case, the total production in the U.S. and Mexico will be maximized if Mexico focuses on Agricultural produce and the US on Manufactured produce.
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Costs that change with the level of production are called variable costs.
<h3 /><h3>What are variable costs?</h3>
These are the costs that vary according to the factors of production, that is, when production increases, costs increase, and when production decreases, costs also decrease.
Therefore, Tolia Company has variable costs those related to direct labor and the costs it pays for products sold.
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Federal spending that is authorized by permanent laws and does not go through the annual appropriation process is called mandatory spending.
<h3>
What does mandatory spending signify?</h3>
Government spending that is subject to eligibility standards established by Congress is known as mandatory spending. Social Security, Medicare, and unemployment insurance are a few examples. All spending that does not occur through appropriations legislation is referred to as mandatory spending. Spending that is necessary includes contributions to entitlement systems like Social Security and Medicare as well as required interest payments on the national debt. Government expenses for legally required programs are considered mandatory spending. Major fiscal trends are heavily influenced by mandatory spending. Government income decrease and spending increases during economic downturns as more people become eligible for required programs like Income Security and Unemployment Insurance. Deficits thus grow or surpluses decline as a result.
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Move would respond in a strategic way as they have high cross price elasticity with each other, Move will have to change the price of his product category.
Cross-price elasticity quantifies how responsive a product's demand is to changes in a related product price. Because demand for one good rises when the cost for the alternative good rises, the cross elasticity of demand for alternative products is often positive.
Some products on the market frequently have connections to one another. This could imply that the demand for a product can be favourably or negatively impacted by a product's price change.
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Answer:
$9,3
Explanation:
COST RETAIL RATIO
Inventory, May 1 $10,440 $14,500 .72
Purchases 31,550 42,900
Freight-in 2,000
Purchase discounts
(250)
Net markups 3,400
Net markdowns (1,300)
Totals excluding beginning inventory
33,300 45,000 .74
Goods available $43,740 59,500
Sales (46,500)
Inventory, May 31 $13,000
Estimated inventory, May 31
($13,000 × .72) $ 9,360
