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4 years ago

Prices become higher when a unique and highly desirable item is auctioned because the

1 answer:

7 0

The prices become higher when a desirable item is auctioned because the demand of the item rises when more people want it and only one person can get it. When this happens the price will rise immensely because the buyer wants it more than the other people so they bid higher to win the auction.

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Whether two goods are substitutes or complements can be determined by computing the.

d1i1m1o1n [39]

Answer: cross price elasticity of demand

Explanation:

The cross price elasticity of demand measures the changes in quantity demanded of one good when the price of another good changes.

Substitute goods are goods that can be used instead of another good e.g. coke and pepsi. The cross price elasticity for substitutes is usually positive because an increase in price of one good increases the quantity demanded of the other good.

Complementary goods are goods that have to be consumed or used together. E.g. car and gas. The cross price elasticity for complementary goods are usually negative because an incease in price of one good leads to fall in the quantity demanded of the other good.

I hope my answer helps you

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4 years ago

At a volume of 8,000 units, Pwerson Company incurred $32,000 in factory overhead costs, including $12,000 in fixed costs. If vol

Y_Kistochka [10]

Answer:

Total cost= $34,500

Explanation:

Giving the following information:

At a volume of 8,000 units, Pwerson Company incurred $32,000 in factory overhead costs, including $12,000 in fixed costs.

<u>Because the 9,000 units are between the relevant range, the fixed costs will remain constant.</u>

First, we need to calculate the unitary variable overhead cost:

Unitary overhead= 20,000/8,000= $2.5 per unit

Now, we can calculate the total cost of 9,000 units:

Total cost= 9,000*2.5 + 12,000= $34,500

5 0

4 years ago

Read 2 more answers

What are examples of types of products that are currently being manufactured by joint ventures between the U.S., Canada, Mexico,

choli [55]

Answer:

Uber Taxi

Star Bucks

Tata Global Beverages

Siemens and Nokia

Alibaba

Explanation:

Joint venture is the business in which there are two or more parties who shares the ownership. The business management may be mutually decided. There are many examples of Joint ventures in the world. Uber Taxi is one of the finest example of joint venture where Volvo vehicles shares the ownership. The joint venture reduces the investment cost for both the parties. The business can be quickly spread in the world by the efforts of two or more parties that form the joint venture.

3 0

3 years ago

Dane works as a sales representative for the Better Butter Company. He is about to meet with his manager to review his progress

serious [3.7K]

Answer:

Management by objectives(MBO).

Explanation:

Management by objectives is a management model whose aim is to improve the performance of an organization by directing eack worker on things that should be done in the workplace. It helps the employees to understand their various duties and roles in the organization as it clearly defines the responsibility of each worker.

Management by objectives ensure proper communication between each and every one of the employees in the organization thereby leading to commited and inspired workers who are willing to work together for the success and growth of the company.

3 0

3 years ago

Read 2 more answers

When the opportunity cost associated with increasing the production of one good or service in terms of another is constant at ev

amid [387]

When the opportunity cost associated with increasing the production of one good or service in terms of another is constant at every level of production, then the production possibility frontier is Linear.

Opportunity costs address the potential advantages that an individual, financial backer, or business passes up while picking one option over another. Since opportunity costs are inconspicuous by definition, they can be barely noticeable.

Opportunity Costs= Absolute Income - Monetary Benefit.

The Production Possibility Frontier (PPF) is a bend on a chart that shows the potential amounts that can be delivered for two items if both rely on a similarly limited asset for their production. The PPF is additionally alluded to as the creation probability bend.

To learn more about Production Possibility Frontier is linear.

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2 years ago