Answer:
Marketing mix
Explanation:
Marketing mix is a market strategy that involves redesigning business experience through the coordination of many marketing activities, such as value pricing, presenting a product that includes exciting performances, locations, and promotion.
Answer:
$1,910 unfavorable
Explanation:
The computation of the variable factory overhead controllable variance is shown below:
= Standard variable factory overhead - Actual variable factory overhead
where,
Standard variable factory overhead equals to
= 4,200 units × 7 standard hours per unit × $2.70 per hour
= $79,380
And, the other items values would remain the same
Now put these values to the above formula
So, the value would be equal to
= $79,380 - $77,470
= $1,910 unfavorable
Answer:
Total, competition and entry are restricted
Explanation:
Monopoly is a market where there is a single seller, so the seller have the power to charge high prices from the customers. It arises because one firm meet the entire market at lower average total cost than 2 or more firms.
A legal monopoly or statutory monopoly, firm is protected by the law from the competitors. So, it provides the competition as well as the entry restriction.
Answer:
(a) Contractionary fiscal policy
(b) Aggregate shifts leftwards
Explanation:
Fiscal policy is a tool that is used by the government of a nation to control the fluctuations in the aggregate demand.
In this type of situation, government prefer to implement contractionary fiscal policy in the following form:
(1) Decreases government spending
(2) Increases taxes
When government increases taxes then as a result there is a fall in the consumer's disposable income. Therefore, the demand for the goods and services decreases in this economy and shifts the aggregate demand curve leftwards.
Answer:
This statement is false.
Explanation:
The change in the equilibrium price due to a change in in an increase in both demand and supply cannot be predicted without knowing the magnitude of the increase.
If the proportionate increase in the demand is greater than the increase in supply, the equilibrium price will increase.
If the proportionate increase in the supply is greater than the increase in demand, the equilibrium price will decrease.
If the increase in demand is proportionately equal to the increase in supply, the equilibrium price will remain the same.
