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Damm [24]
3 years ago
15

What is the difference between Absolute Advantage and Compartive Advantage?

Business
1 answer:
Kitty [74]3 years ago
3 0

Answer: See explanation

Explanation:

Absolute advantage simply means when an economic entity such as individuals or the firms can produce a particular good more efficiently than others who produce similar good. In this case, a larger quantity is produced when compared to others.

Comparative advantage is when an economic agent can actually produce goods at an opportunity cost that's lower than the opportunity cost of its competitors. Due to this, such economic agent can sell its good at a cheaper price than others and therefore make more revenue.

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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The
postnew [5]

Answer:

$1960

Explanation:

The computation of the total cost is shown below:

Total variable overhead estimated is

= (4 × 31400)

= $125600

Now

total overhead estimated is

= Total variable overhead estimated + Total fixed overhead estimated

= $125600 + 219800

= $345400

Now predetermined overhead rate is

= $345400 ÷ 31400

= $11 per machine hour

Now total overhead applied is

= (11 × 20)

= $220

So,  total job cost is

= Direct material + Direct labor + Total overhead

= (580+1160+220)

 = $1960

6 0
3 years ago
What is progressive tax and what is it based on?
kozerog [31]

A progressive tax takes a larger percentage of income from high income groups than from low income groups and is based on the concept of ability to pay.

3 0
3 years ago
Read 2 more answers
What is the amount of tax paid for the year
slamgirl [31]

Answer:

3428.57142857

Explanation:

4 0
3 years ago
Briefly explain the term market economy​
Alchen [17]

Answer:

a market economy is a system where the laws of supply and demand direct the production of goods and services

6 0
3 years ago
A typical project office (not to be confused with a project management office) responsible for the management of a large project
beks73 [17]

Answer: (A) Assistant project managers

Explanation:

 The main role of the assistant project manager is that it basically assisting the project managers by coordinating, analyzing and planning the specific project.

 The main responsibility of the assistant project  managers is to supporting the given function of the project and execute the given project.

According to the given question, a typical project office is basically responsible for managing the large projects which include both the project manger and the assistant project managers.  

 Therefore, Option (A) is correct answer.    

3 0
3 years ago
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