The commission is cut from the buyers cost of the property
Answer:
A) total cost = (200 labor hours x $20) + (500 units of raw materials x $8) + $4,000 cost of capital = $12,000
average total cost per unit = $12,000 / 2,000 units = $6 per unit
B) new total cost = (100 labor hours x $20) + (500 units of raw materials x $8) + $4,000 cost of capital = $2,000 + $4,000 + $4,000 = $10,000
average total cost per unit = $10,000 / 3,000 units = $3.33 per unit
C) When process innovation occurs, total productivity and efficiency increase, decreasing the average cost per unit. In this case the total cos decrease, but even if total costs do not decrease, higher efficiency and productivity can be achieved by production more units at the same total costs. Process innovations, usually related to new technologies, are responsible for the greatest increases in productivity and efficiency which result in higher economic output and growth.
Marx would maintain that Sally has experienced <u>false class consciousness</u>.
<u>Explanation</u>:
False class consciousness is the term used to describe the behavior of the employees who identify themselves as investors by mistake when they own few shares of stock or work as managers in large corporations. This term false class consciousness was used by famous sociologist Karl Marx.
In the above scenario, Sally was working for Ellis Corporation as a computer programmer. But she thinks herself as a stockholder as she holds few shares of Ellis stock and had $15,000 in her savings account.
Answer:
Option (c) is correct.
Explanation:
Law of demand states that the price of the commodity and the quantity demanded of that commodity are negatively related to each other. This means that as the price of the commodity falls then as a result the quantity demanded for that commodity increases.
Therefore, the consumer will buy more sticks when the price of sticks falls from $2 to $1.
I say true because it seems like most likely answer.
