Answer:
19.82%
Explanation:
Midpoint method = Q2 - Q1 / [(Q2 + Q1) / 2] / P2 - P1 / [(P2+P1) / 2]
3.33 = 2000 - 1000 / [(2000 + 1000) / 2] / P2 - P1 / [(P2+P1)/2]
3.33 = 0.66 / (P2 - P1) / [(P2+P1)/2]
By cross multiplying we have
0.66 = 3.33 [ (P2 - P1) / [(P2+P1)/2]
divide both sides by 3.33
19.82% = The mid point change in price.
Answer:
D. identifying new ways for people to fulfill their wants and needs
Explanation:
Entrepreneurs start new businesses in society. They are quick to spot and identify needs and wants in the market. Entrepreneurs establish businesses to provide solutions to these needs and want at a profit.
Entrepreneurs use their creativity to come up with new and unique products that offer solutions to society's problems. They innovate better products and ways of offering services that are friendly and more cost-effective. Entrepreneurship goes hand-in-hand with creativity and innovation.
Answer:
Total cost= $101,380
Explanation:
Giving the following information:
Production for April= 56,000
Production for May= 52,000
The raw material costs $1.85 per unit.
Each month's ending raw materials inventory should equal 30% of the following month's budgeted materials. The April 1 inventory for this material is 16,800 units.
We need to determine the budgeted material purchases for April:
Purchases= production for April + ending inventory - beginning inventory
purchases= 56,000 + (52,000*0.3) - 16,800= 54,800 units
Total cost= 54,800*1.85= $101,380
Marginal social cost is defined as the marginal private cost plus the opportunity cost.
When an extra or additional unit of a good or service this produced brings about a change in society's total cost. This change in society's total cost is called marginal social cost. This includes both the opportunity cost and the marginal private cost. So it is the total of the private cost and the external cost that the person has to pay.
Marginal private cost is the change in the total cost of the producer due to the production of an additional unit of a good or service. This cost is also known as the marginal cost of production For example if the production of a person's costs rises from$1,000 to $1,050 due to the production of this one good being produced for $50 is known as the marginal private cost.
The opportunity cost is the benefit the person would have gotten if he would have invested the money elsewhere. For example, if the person has an extra $50. He can either invest it in the business or he can invest it in the bank and get the interest. The interest money that the person has to forgo is called the opportunity cost.
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