Answer:
C. Higher prices but lower total revenue from marijuana sales.
Explanation:
The above scenario totally explains inelastic demand. Inelastic demand is when the buyer’s demand does not change as much as the price changes. When price increases by 20% and demand decreases by only 1%, demand is said to be inelastic.
When the price increases, people will still purchase roughly the same amount of the good or service as they did prior to the increase because their needs stay the same. A similar situation exists when there is a decrease in price demand will not increase substantially because consumers only have a limited need for the product.
Answer:
$9,000
Explanation:
1.Finishing’s departmental rate based on MH
= Finishing’s costs/Finishing’s machine hours
= $90,000/2,000 = $45 per MH
2.Cost assigned to Finishing based on MH
= Finishing’s departmental rate based on MH * Finishing’s currently used machine hours
= $45 per MH * 200 MH = $9,000
Therefore If the company uses a departmental overhead rate based on machine hours, $9,000 overhead cost will be assigned to Finishing this month
Answer: true
Explanation:
Economic efficiency implies an economic state in which every resource is optimally allocated to serve each individual in the best way while minimizing waste and inefficiency.
Answer:
Money plays the role as a store of value, a medium of exchange, as well as the unit cost of both the computer and vacation.
Explanation:
Money is a generally accepted medium of exchange or as a means of payment for goods ad services. The value of a product or a service is determined by how much money people are willing to pay for it. Hence money is also a determinant of value.
From the question,
Shen has $1537 in his account, this is the store of value he is willing to exchange for either a computer or vacation.
As he cannot afford both, he measures the opportunity cost and chooses the computer over the vacation. his check of $1.299 with which he buys the computer is his medium of exchange with which he purchased the computer.
The costs of both of the vacation and computer is the unit cost of value p;aced on both of them
The types of teams that Graeter might use in these facilities include a food quality team, a production team, and a logistics team.
<h3>What are the most important processes of food production?</h3>
The most important processes of food production include quality controls, which are fundamental to ensure safe foods, and also teams associated with the production, which ensure a suitable production to obtain benefits.
Moreover, the logistic team is also fundamental in food production because it ensures the correct movement of packaged food to the final destination.
In conclusion, the types of teams that Graeter might use in these facilities include a food quality team to control the quality of foods, a production team to ensure the required amount of food products on a daily basis, and a logistics team to ensure the transport of foods to corresponding market centers
Learn more about food production here:
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