Answer:
B. the pain of losing $1,000 on a bet exceeds the pleasure of winning $1,000 on a bet.
Explanation:
A risk averse person is an individual or person rather who prefers lower returns with known risk than higher returns with unknown or higher risks. In this case, the individual prioritizes preservation of capital at hand over the potential of a more than average return. In this scenario, for a risk averse individual, the pain of losing $1,000 on a bet exceeds the pleasure of winning $1,000 on a bet based on the high uncertainty attached to winning the $1000 bet.
Answer:
2. elastic; inelastic
Explanation:
The price elasticity of demand, the amount consumers demand from a particular price are different for each good or service, and when the price changes, the response shown as the change in the quantity requested is different for each good (even at a different price level for one good).
In the face of price changes, the severity (or degree of sensitivity) of the reaction of consumers in the form of changing the amount they buy against this change is measured by the price elasticity of the demand, which is also called demand elasticity. This flexibility is expressed by a coefficient.
The price elasticity coefficient of demand is equal to the ratio of the percentage change in the quantity demanded to the percentage change in price in the face of a small change in price.
The Price elasticity will be elastic when it equals or more than 1, if not it will be inelastic with the amount of less than 1.
A channel of distribution is defined as a group of individuals and organizations that b) directs the flow of products from producers to customers.
A channel of distribution is the channel where products move from each stage all the way down into the consumers hands. Different company's and their products may have differences in their distribution path but, they allow follow a path of some sort.
Answer:
A) $2.50 per direct labor-hour
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
where,
Estimated manufacturing overhead = Rent on factory building + Depreciation on factory equipment + Indirect labor + Production Supervisor's salary
= $15,000 + $8,000 + $12,000 + $15,000
= $50,000
And, the estimated direct labor hours is 20,000
So, the rate is
= $50,000 ÷ 20,000
= $2.5 per direct labor-hour
