According to the menu cost the firms would be slow to changing prices because .the cost of changing the price might exceed the additional profit the price change would generate.
<h3>What is the menu cost theory?</h3>
This is the theory in the field of economics that helps to ensure the reflection of the effect of the change in price to an establishment.
According to this theory, the the cost of changing the price might exceed the additional profit the price change would generate.
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In order for a court to exercise authority over a particular dispute", "there must be an actual case or controversy", the case must be ripe for resolution, and the parties must have <u>Standing </u>to bring the case.
Explanation:
The term <u>Standing</u> is also referred to as <u>Locus Standi. </u>
<u>The term refer to the ability </u>of a party to provide sufficient proof to the court about the harm caused to the party due to the legal action challenged in the court.
The Doctrine of Standing or standing to sue, is a court-created “doctrine” helps to determine whether or not the court will hear a particular federal lawsuit.
<u>The doctrine of standing has three elements: </u>
(1) The plaintiff who has suffered a concrete injury;
(2) that injury is fairly traceable to actions of the defendant
(3) it must be likely—that the injury caused will be redressed by a favorable decision
Answer:
The minimum selling price = $23
Explanation:
The minimum selling price to be acceptable for the special order be the same as the relevant variable cost of producing a unit.
The relevant variable cost = marginal cost of a unit
Marginal cost = Direct material + Direct labour + Variable manufacturing overhead + shipping cost
Marginal cost = 9+ 7 + (50%× 8) + 3= 23
The minimum selling price = $23
Note : The 50% balance of manufacturing overhead which represents unavoidable fixed costs is irrelevant for this decision. These are costs that would be incurred either way whether or not the special order is accepted.
Answer:
The correct answer is: market globalization.
Explanation:
Market globalization is the worldwide spread offering of goods and services creating an integrated economy. The main tool of this market is the internet that allows the connection between buyers and sellers from remote physical locations with just a couple of clicks. When it comes to competition, the companies rationalize their value by creating multinational business chains.
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