Answer:
b. Actual quantity purchased by the difference between actual price and standard price
Explanation:
The formula to compute the material purchase price is shown below:
= Actual Quantity × (Standard Price - Actual Price)
It is derived by taking a difference between the standard price and the actual price and then multiplying it by the actual quantity so that the material price or material purchase price variance could come
Hence, the correct option is b.
Answer:
b. diminishing marginal productivity.
Explanation:
Economies of scale means that as total output increases, the average total cost per unit decreases. This continues until a point where marginal costs will start to increase as well as average total cost per unit. In other words, marginal productivity decreases as total output increases, and at one point it will become negative.
Answer: Please refer to the explanation section
Explanation:
The question is not clear with regards to what is required or what the question wants us to do. I will assume the question requires us to provide arguments inf favour of decreasing tariffs on imported goods.
Tariffs on imported goods aim to discourage buyers from buying import goods, when Tariffs decrease it benefits consumers because they have more choice, they can buy locally or from another country which will drive the price of a good in question down.
Free trade will also strengthen Trade relations between countries, the domestic country will also benefit because it would easier for local producers to export their product and gain a market in foreign countries. Local producers will export their product without incurring excessive costs tariffs charged by the foreign country
Answer:
Graphs
Explanation:
A graph is a pictorial representation that shows a relationship between two or more variables. In the context of economics, it represents the clearly relationship in two-dimensional space. Also the economic analysis would be concerned with respect to the two variables.
Therefore as per the given situation, the graph should be the answer
Hence, the same is to be considered
The real exchange rate ( RER ) is the ratio of the price level abroad and the domestic price level.
RER = ( Nominal Exchange Rate x Foreign Price ) / ( Domestic Price )
The price of sofa is 2,400 pesos in Argentina and the nominal exchange rate is 4 pesos per dollar ( 2,400 : 4 = $600 )
RER = 4 x $600 / $800 = 3
Answer: The Real Exchange Rate is 3 pesos per dollar.