Answer:
Option (b) is correct.
Explanation:
In a market condition of pure competition, there are large number of buyers and sellers of the product. The sellers in this market condition are behaving like a price taker.
If a single firm wants to increase the price of the product then as a result the demand for their product is reduced or become zero.
There are some characterstics of the firms under pure competition market condition:
(i) They are selling homogeneous products.
(ii) Price taker firms
(iii) Large no. of buyers and sellers
-dress nicely
-be prepared
-empathize
Where are your options? Anyway, I hope this helps!!! :)
Jane must do a system each evening to copy and archive computer data that could be used if a compromise occurs. The process that Jane makes is referred to as back up. Back up process is the process of copying and archiving computer data so that the duplicate files can be used to restore the original data if a compromise occurs.
Answer: Fixed Cost
Explanation: Fixed cost will always be a relevant cost because a business must incur fixed cost during the course of the business.
Fixed cost are cost that are not depended on sales or activity level of the organisation and they are incurred in as much as the business is operational.
Examples of fixed costs are:
Utilities, salaries, rent, depreciation etc.
Fixed costs has a high influence on the profit/ loss of any organisation.
Answer:
200% of direct labor cost
Explanation:
The computation of the company overhead application rate is shown below;
But before that overhead cost would be determined
GIP = Direct material + Direct labor + Overhead
$4,400 = $2,000 + $800 + Overhead
So,
Overhead = $4,400 - $2,000 - $800
= $1,600
Now the overhead application rate is
= overhead ÷ direct labor cost
= $1,600 ÷ $800 × 100
= 200%
