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Allisa [31]
3 years ago
10

Total revenue decreases as the price of a good increases. true or false

Business
1 answer:
Ipatiy [6.2K]3 years ago
8 0

Answer: False

Explanation:

Total Revenue is the total amount that is received in return on sales of goods and services.

It is calculated as Price multiply by Quantity.

If the price of a product increases the revenue would also increase ceteris paribus( all things being equal). If the price of a product was $10 and 4 units were purchased Total revenue would be $40 and if price increases to $20 and 4 units were still purchased total revenue would be $80 assuming that we’re not taking into consideration any other factor like elasticity or type of good.

If price increases revenue increases too.

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LO 4.8The activity base for service industries is most likely to be ________.
alexgriva [62]

Answer:

<u>Direct labor hours.</u>

Explanation:

An activity base is considered every activity used in overhead allocation.

In service industries, it is more likely that the base of activity is direct working hours, to use this indirect cost allocation base, there must be an estimated amount of the total direct working hours that are used during the period. , using the estimate of a previous period as a projection for retraction or business growth. Once the estimate has been determined, the predetermined indirect rate used for indirect cost allocation can be found by dividing the estimated total indirect cost by the estimated total direct working hours.

5 0
3 years ago
The news division of WEXS Channel 10 wanted to hire a new morning news anchor. As part of the interview process, candidates were
jolli1 [7]

Answer:B

Explanation: The WEXS Channel 10 wanted to see how well the candidates would perform with a story that was given to them.

5 0
3 years ago
All of the following are benefits of participating in a QRIS system except
castortr0y [4]
All of the following are benefits of participating in a QRIS system except (B) tax credits. QRIS or Quality Rating and Improvement System is a framework toward quality improvement and rating in building strong early care and education system. As early as childhood, this tool can help in the foundation of the children, especially in education.
8 0
4 years ago
Read 2 more answers
Calculator Santorino Company produces two models of a component, Model K-3 and Model P-4. The unit contribution margin for Model
Maru [420]

Answer and Explanation:

1. 5,000

2. 5,500

Working;

Machine Hour available : 4,000

Product P-4 Has higher contribution margin, so it must be produced maximum.

Maximum demand for Product P-4 = 5,500 Units

Time required by each Unit = 30 Min.

Total Hours required for 5,500 Units, 5500 / 2 = 2,750 Hours

Remaning hours will be alloted to K-3.

Each unit of K-3 require 15 Min. , So total of 4 Units in an hour.

Total units produced = 1,250 x 4 = 5,000 Units.

3 0
3 years ago
At the time of Elise’s 20 year high school reunion she was earning $50,000 and the CPI was 80. Now that it is time for her to at
babunello [35]

Answer:

Her real income has decrease by  $7,333.33

Explanation:

<em>Real income is the amount of goods and services that a give amount of quantity money can purchase. It is also known as the purchasing power of money.  </em>

To determine if there has been a change in her real income, we will compare her real income 20 years ago to her real income 5 years later. This will be done as follows;

Step 1

Determine her real income 5 years after her last reunion

Real income in current year = (CPI in base year/CPI in current year ) × Nominal income

                     = (80/150)× 80,000

                    =   $42,666.67

Step 2

Determine change in real income

Her real income has decrease by  $7,333.33. This is difference between her real income 5 years ago and now. That is $50,000 -  $42,666.67.

Tis implies she cannot purchase as much as she could 5 years ago because of inflation.

3 0
3 years ago
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