Adam Smith's invisible hand theory is the concept that in a market where people are free to buy and sell as they please, buyers will buy goods that sellers offer at prices that work for all parties.
Answer:
$10,800 underapplied
Explanation:
Calculation for If overhead is applied based on machine hours, the overapplied/underapplied overhead is:
Overhead machine hours=[($1,044,000/24,000)×23,600]-1,037,400
Overhead machine hours=($43.50 x 23,600) - 1,037,400
Overhead machine hours=$1,026,600- 1,037,400
Overhead machine hours= $10,800 underapplied
Therefore If overhead is applied based on machine hours, the overapplied/underapplied overhead is:$10,800 underapplied
The demand curve for a perfectly competitive firm is completely elastic and a horizontal line. Monopolistically competitive demand curve is downward sloping and is more elastic than monopoly because there are more substitutes.
SORRY I NEED MORE INFO what exactly are you looking for?
<span>An increase in price could potentially result in a loss in sales due to the client base not believing that the price increase was justified.</span>
