Guessing it is the world map since there is no map on here,
USA and China for the highest GDP
South Sudan has the lowest GDP
Answer:
Does not have the ability to control the price of the product it sells
Explanation:
A price taker is a firm that doesn't have the ability to control the price of the product they sell.
Price taker exist in a perfectly competitive market where individual firms cannot dictate prices of goods and services.
A perfectly competitive market is characterised by
1) presence of large number of buyers and sellers.
2) There is free entry and exit.
3) Sellers sell homogenous product, that is, identical product.
4) Buyers have access to information.
In contrast to price taker, we also have price makers who have the ability to control the prices of product they sell.
Answer:
-4670 Favorable
Explanation:
actual- standard = variance
variance * actual lbs of material
5.2-6.2=-1*4670=-4670 Favorable
Answer:
The answer is $10,800
Explanation:
Straight line method of depreciation is:
Cost - residual value/number of useful life
Cost - $62,000
Residual value - $8,000
Number of years - 5years
=62,000 - 8,000/5
=57,000/5
$10,800.
Therefore, $10,800 will be charged every year.
Answer:
B. The difference between sales revenues and the costs associated with those sales
Explanation:
The amount of profit made by the company after deducting the total costs which have been incurred in the making and the selling of the product is said to be gross profit. The gross profit is calculated by subtracting the amount of revenue and the cost of the goods sold. Fixed cost is not included in the gross profit. It includes only variable costs.
