The production possibility table shows that in Latalia the domestic real cost of 1 ton of pork is C. 5 tons of beans.
<h3>What is production?</h3>
It should be noted that production simply means the creation of goods and services for consumers.
In this case, production possibility table shows that in Latalia the domestic real cost of 1 ton of pork is 5 tons of beans. This is because 5 tons of beans will be sacrificed to produce the pork.
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We can find the increase in operating income for each $ 1,000 increase in revenue per month by finding the contribution margin ratio and the multiplying it with the increase operating income of $ 1,000 each.
The formula to find the contribution margin ratio is :-
Contribution margin ratio = Contribution margin per unit / Selling price per unit
= 12 / 20 = 60%
The increase in operating income = Contribution margin ratio * Revenue
= 60 % * 1,000
= $ 600
The calculations are shown below :-
Selling price per unit = $ 20
Variable cost per unit = $ 8
Contribution margin per unit = Selling price per unit - Variable cost per unit
= $ 20 - $ 8 = $ 12
Answer:
purchase the same amount as before when the price rises by 10%.
Explanation:
A perfectly inelastic demand curve is basically a straight vertical line. This means that the consumers are willing to purchase the goods or services no matter what their price is. In other words, they will keep buying them at any price, up to infinity and beyond. This is not a real scenario, because no product will be purchased at any price that the seller wants.
Growth requires developing a formal structure to function efficiently.
<u>Explanation</u>:
Growing a business from lower level to higher level requires lot of efforts and talents. If the business is developed and moving to the next level, it is necessary for the entrepreneur to follow certain formal structure.
The formal structure helps the owner of the company to maintain his standard in specific hierarchy. This formality may keep the employees or workers organized. The work will be allotted clearly to each and every one and each of them will have their own responsibilities.
Answer:
features in the supply of goods
