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zlopas [31]
3 years ago
7

If the absolute price of good X is $10 and the absolute price of good Y is $14, then what is (a) the relative price of good X in

terms of good Y and (b) the relative price of good Y in terms of good X.
Business
1 answer:
Yuri [45]3 years ago
8 0

Answer:

 1X= 5/7Y

1Y= 7/5Y

Explanation:

Relative price of product of X in terms of product Y is the price of product X expressed a fraction of product of Y, that is $10/$14=5/7,and it is expressed in standard terms 1X=5/7Y

The relative price of  product Y in terms of product X is $14/$10=7/5 and also can be expressed in standard format as IY=7/5Y

All in all, product the relative price of product Y seems to be higher than the relative price of product x

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3 years ago
A firm purchased 50 units of materials with a unit price of $1.30 on June 1. On June 15, the firm purchased 50 units with a unit
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Answer: $83

Explanation:

Given that,

On 1 June,

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Unit price of material = $1.30

On June 15,

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3 years ago
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Answer:

c) $ 24,200

Explanation:

Computation of Total Period costs

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Variable Selling and Administrative costs

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