June 18th.
The date that the buyer receives the item is not important for the credit period, which starts the day the items are send out and invoiced.
The following standards for variable manufacturing overhead have been established for a company that makes only one product:
((200*8.6)- 2925)*15 = 18,075
The term "variable overhead efficiency variance" refers to both the impact of the discrepancy between the actual manufacturing time and the projected manufacturing time. Variations in productive efficiency are the cause of it.
The difference between the actual manufacturing costs of a product and the costs that the business entity budgeted for it is measured by the variable overhead efficiency variance. It may therefore result from a disparity in productive efficiency.
Variable overhead efficiency variance = ((Actual output * Standard hours per unit of output) - Actual hours) * Standard variable overhead rate.
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Under perfect competition, any profit-maximizing producer faces a market price equal to its Marginal cost.
A perfect competition, often referred to as an atomistic market, is defined by various idealizing criteria, which are together referred to as perfect competition, or atomistic competition, in economics, specifically general equilibrium theory.
Any business that seeks to maximize its profits must contend with a market price (P = MC) that is equal to its marginal cost. This suggests that the price of a factor is equal to its marginal revenue product. It enables the supply curve, on which the neoclassical approach is based, to be derived. A monopoly does not have a supply curve for the same reason. Except in very limited circumstances like monopolistic competition, the abandoning of price taking makes it extremely difficult to demonstrate an universal equilibrium.
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Answer:
lnQ=C 1.29 + -0.07 lnP + -0.03 lnM
c. Demand will fall by nearly 1% and income elasticity is significantly less than zero.
Explanation:
Income elasticity is a major factor which impact the demand of a product. It measures the change in quantity demanded due to change in income. In the given scenario the demand for product will decline due to change in income. The income elasticity is smaller there will not be major change in demand but there will be some impact observed on the quantity demanded.
Streaming services and TV sets: complements
Streaming services and movie tickets: substitutes
TV sets and movie tickets: substitutes