These are worth careful scrutiny by the managers of all companies because when a company's costs for one or more of the cost benchmarks are deemed "out-of-line," managers need to initiate corrective actions in the next decision round. only have value to the managers of companies whose costs are below the industry averages.
<h3>What do you mean by industry?</h3>
An industry is a group of companies that are related based on their primary business activities.
In modern economies, there are dozens of industry classifications. Industry classifications are typically grouped into larger categories called sectors.
<h3>What are the 4 types of industry?</h3>
There are four types of industry, namely primary, secondary, tertiary and quaternary.
Primary industries involve the activities related to extraction and processing of natural resources, such as agriculture, mining, fishing, etc.
Learn more about industries here:
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Answer:
Manson will incur a loss of $10,300 by buying the part.
Explanation:
Purchases = 10,300 * $6 = $61,800
Variable cost = 10,300 * $5 = $51,500
Fixed cost = 10,300 * $3 = $30,900
Analysis:
<u>Details Make ($) Buy ($) Net ($)
</u>
Purchase 0 61,800 61,800
Variable 51,500 0 51,500
Fixed 30,900 30,900 <u> 0 </u>
Loss <u> 10,300 </u>
Therefore, Manson will incur a loss of $10,300 by buying the part.
Answer: (b) -3.08
Explanation:
The relationship between the demand(q), price per unit product(p) and the disposable income,yd is given by the expression below;
q= 20ln(7yd-2p).
From the expression above, the marginal demand,
∂ q/∂ p is the differential of the equation of relationship between the demand, price and disposable income.
This involves considering the demand,q as the dependent variable and the price per unit product,p as the independent variable and the disposable income,yd is considered constant.
Therefore ,
∂ q/∂ p= (-40)÷(7yd-2p)
By substitution of
yd =$3000÷1000= $3
and p= $4
∂ q/∂ p= (-40)÷((7×$3)-(2×$4))
∂ q/∂ p= -40÷13= 3.08
Please see the attachment for knowledge on how ∂ q/∂ p was obtained.
Answer:
B) The Law of Demand
Explanation:
The correlation between the volume demanded, and the price of a good is explained by demand law. As per this law, price and the quantity demanded have an indirect or inverse relationship. An increase or decrease in price results in quantity demanded moving in the opposite direction.
Should the prices of a product or service increase, its demand falls.
