Higher prices will lead to more products being supplied, whereas lower prices will lead to less products being supplied. A change in a non-price determinant of supply is the only factor that can affect whether a good's supply rises or falls.
The cost of the good or service is the determinant of supply that is the most evident. When all other factors are equal, a product's supply grows if its relative price is higher. It's easy to understand why. A business sells products or services to make money, and as prices grow, so do profits.
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POWER & RESPECT COMES ALONG WITH BUSINESS PLAN'S
Answer:
Jane's total cost is $60,000.
Explanation:
This is because of the phenomenon called Opportunity Cost.
Simply put, opportunity cost is the cost of the next best alternative use of resources when a choice is made at the detriment of another.
We can also define it by saying, Opportunity Cost is the forgone alternative.
So we know she spent $50,000 to start her business, but would have made 10% of $100,000 which is $10,000 which is the opportunity cost, she has incurred a total cost of $60,000.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Determine which costing method (variable costing or absorption costing) accounts for fixed manufacturing costs as costs of the period:
a. at the time of incurrence,
b. at the time the finished units to which the fixed overhead relates are sold.
Absorption costing allocated fixed manufacturing costs to the product. Therefore, the fixed costs go to the cost of goods sold.
Answer:
No Petra must not tell Malik about the offer
Explanation:
If Petra has no reason to believe that Malik would be interested since he specificly he would not consider any offer for less than $7500 and $1000 is less than the price Malik is looking for, he does not have to pass the offer on to him.
Therefore, No Petra must not tell Malik about the offer
