Answer:
The correct answer is letter "D": direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department.
Explanation:
Standard price is the estimated price direct materials could have at the moment of ordering a purchase. Standard quantity refers to the forecasted number of units necessary for the production process of the firm. The two of them are separated to allocate each one to the department in charge of their providing accurate measures: <em>standard prices are set by the purchasing department while the standard quantity is estimated by the production department.
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The efficiency of standard price and quantity relies on the purchasing and production departments separately.
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The answer is $7 because Marginal revenue is the change in total revenue from 10 customers ($400) to 11 customers ($407) How a monopolist maximizes profits
How does a monopolist determine its profit-maximizing level of output How does it determine the price that it charges?
The monopolist will select the profit-maximizing level of output where
MR = MC
and then charge the price for that quantity of output as determined by the market demand curve. If that price is above average cost, the monopolist earns positive profits.
How a monopolist maximizes profits
Because Chuck, a sole commercial airplane operator in small isolated town, has no competition, he has complete control of market price of air travel in his small tone
Reduced price → increase in ticket sales
Monopoly maximizes profit by choosing an amount of profit in which marginal revenue equals marginal cost (MR= MC) Since Chuck must reduce his price to sell more units, he has an incentive to sell a smaller quantity than a perfective competitive company
Learn more about Marginal revenue :
brainly.com/question/10822075
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Answer:
job B
Explanation:
.05*50000=2500 and he gets 1000 so his total would be 3500
Explanation:
1. If butter complements margarine for instance, and there occurs a sudden increase in the price of butter leading to lower demand, this would affect the demand for margarine negatively leading to a fall in the demand for margarine.
2. If this goods are substitutes the demand for butter will increase when the price of margarine rises.
This is because it is only natural for people to switch to the next best alternative (substitute) that fills the same purpose or needs.
3. Remember Ice cream and ice cream cones complementary goods; meaning the demand for one increases the demand for the other and vice versa.
4. If the price of ice cream increases, demand would also decrease for ice cream as consumers are usually sensitive to price.
This decrease in the demand for ice cream would also affect ice cream cones since they complement each other, leading to a decrease in the demand for ice cream cones.
