<span>Specific adaptations are usually required when a buyer chooses outsourcing, which is a contract with an external firm to produce goods or services rather than the buyer producing them internally. gatekeeping resident buying competitive bidding outsourcing auctioning</span>
The question is incomplete. See the attached image for the missing table showing the demand and supply schedule.
Answer/Explanation:
a. Equilibrium price is the price at which Qd = Qs. Hence, equilibrium price = $4, while equilibrium quantity is the quantity demanded at the equilibrium price, i.e. where quantity demanded = quantity supplied. Therefore equilibrium quantity = 8,000
b. At $5, there would be excess quantity supplied, i.e. Qs · Qd = 10,000 · 6,000 = 4,000. Hence, there would be wastage of resources as a result of surplus. This would lead to decrease in price in order to avoid the wastage of resources.
c. At $2, there would be excess quantity demanded, i.e. Qd · Qs = 12,000 · 4,000 = 8,000. This would lead to increase in price as a result of acute shortage in quantity supplied.
Answer: Option B
Explanation: In simple words, price elasticity refers to the degree of change that a commodity experiences due to change in its price.
In case of coca- cola, the price elasticity will be high as it has a close substitute available in the market named Pepsi. Therefore, if coca-coal increases its prices,its consumers would shift their demand to Pepsi.
Thus,from the above we can conclude that the correct option is B.
Answer:
The total cost for the job is $5086
Explanation:
Given that:
Direct materials cost $3044
Direct labor-hours 46 labor hours
Direct labor wage rate $15 per labor-hour
Machine-hours 104 machine-hours
Overhead rate $13 per machine-hour
Therefore:
Direct labor = Direct labor-hours × Direct labor wage rate
∴ Direct labor = 46 labor hours × $15 per labor-hour = $690
Manufacturing overhead = Machine-hours × Overhead rate
∴ Manufacturing overhead = 104 machine-hours × $13 per machine-hour
Manufacturing overhead = $1352
The total cost for the job = Direct materials cost + Direct labor + Manufacturing overhead
∴ The total cost for the job = $3044 + $690 + $1352 = $5086
∴ The total cost for the job = $5086
