Answer:
3/4
Explanation:
The marginal propensity to consume mpc, is the slope of the consumption function and it is what this question requires us to find
We have income increase to be = 100 dollars
Then consumption increase = 75 dollars
MPC = increase in consumption ,75/increase in income 100
= 75/100
= 3/4
Therefore the marginal propensity to consume also called the slope is 3/4
Answer:
Option D is correct.
<u>Select the rate of output where marginal revenue equals marginal cost
</u>
Explanation:
Reason: Profit = Revenue - Cost
To maximize profit we take the derivative. Results in in Max Profit occurring at Marginal Revenue = Marginal Cost
a. Standard labor-hours is 7920 hours.
b. Standard labor cost allowed is $42,768.
c. The labor spending variance is $1588(U).
d. The labor rate variance is $1706 and the labor efficiency variance $3294(U).
e. The variable overhead rate is $5971(U) and efficiency variances for the month $5580(U).
<u>Explanation:</u>
a)Standars hours(SH) allowed to make 19800 jogging mates
=SH per unit
19800
=(24/60)*19800
=7920 hours
24/60 has been taken to convert minutes into hours.
b)Standard Labor Cost (SC) of 19800 jogging mates

=$42,768
c)Labour Spending Variance

=$1588(U)
d)Labor Rate Variance

=$1706
Actual Hours(AH) * Actual Rate per hour(AR)= Actual Cost(AC)


Labor Efficiency Variance

=$3294(U)
e) Variable overhead rate variance = Actual hours worked (Standard overhead rate - Actual overhead rate)
= 8530 (4.5 - 5.20)
= $5971(U)
Actual overhead rate = $44,356 / 8530 = 5.20
Variable overhead efficiency variance = Standard overhead rate (Standard hours - Actual hours)
= 4.50 (7290 - 8530)
= $5580(U).
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