Marginal revenue is the ratio that is calculated in order to account for the change in overall income that results from selling one additional unit. This term is usually considered a microeconomic term but has many managerial accounting applications.
The formula to be used is,
Marginal revenue = (change in total revenues)/(change in quantity sold)
Revenue for 2 units sold: R = (2 units)($8.50/unit) = $17
Revenue for 3 units sold: R = (3 units)($8.00/unit) = $24
Change in Total Revenue = $24 - $17 = $7
Marginal Revenue = ($7) / (3 - 2) = $7/1
<em>ANSWER: Marginal Revenue: $7/unit</em>
Answer:
population shift
Explanation:
immigration, population growth: As the population grows or shrinks, the labor supply will tend to shift to the right or to the left. In a competitive labor market, the wage has two properties:
1. It adjusts to make supply and demand for labor equal.
2. It equals the value of the marginal product of labor.
Set savings and debt payoff goals
Answer:
All of the unemployment benefits are taxable.
Explanation:
Unemployment benefits can be defined as the amount of money given to unemployed individuals. These payments are made by different authorized bodies.
Unemployment benefits helps to stimulate the economy as a whole during a period of economic decline. The various authorized bodies that give out these unemployment benefit have to control the flow so that these unemployed individuals will not be discouraged from searching for a new job.
Unemployement benefits are subject to taxation, it is left for the individual to decide if 10% of the benefit will be withheld or to make a quarterly payment of the tax.
The inductive method is also sometimes called a scientific method. The method starts off by stating many observations of nature then arriving to the conclusion. The goal is to find a few and powerful ending statement based on the previously stated individual reasons.
