Answer:
Raw material purchases (in pounds) 20,275
Explanation:
The computation of the purchase of raw material made for February month is shown below:
Production in Units 20,600
Multiplied by Raw material needed per unit (in pounds) 1
Total raw material required (in pounds) 20,600
Add: closing Inventory (25% of 19300 pounds) 4,825
Less: Opening Inventory (25% of 20600 pounds) 5,150
Raw material purchases (in pounds) 20,275
A natural monopoly can occur when the average cost of making a good decreases a lot as output increases. Hopefully the demand goes up as well!
Answer:
"Pension fund" is the appropriate solution.
Explanation:
The term "pension plan" for employers would be a recognized plan or organization which offers an amount of livelihood throughout pensions.
- Sometimes staff, potential employees, or sometimes both pay toward funding or contributions.
- Governments around the world throughout all concentrations give retirement compensation.
Thus the above is the correct answer.
Answer:
The Fair Labor Standards Act was established in 1938.
Answer: C beyond a certain point, total utility decreases as income rises
- Diminishing marginal utility means that beyond certain point, the total utility from consuming a good decreases, and increasing its consumption monotonically, makes that every additional unit of consumption delivers less utility each time.
- This is because most behavioral consumers models try to emulate the principle of scarcity: the less available units of a good, the more it values.
- Then, an increasing income would allow us to buy more and more goods, and because of the existance of diminishing marginal utility, we would get less utility from consuming additional units of every goods each time.
- As an <u>example</u>,one could think about eating chocolate. The first bar would give us much happiness (utility), but increasing the number of bars consumed would eventually vanish this "happiness".
