Answer:
<em>Just Meaningful Difference
</em>
Explanation:
The Just meaningful difference
, or simply JMD, Symbolizes the slightest amount of stimulation shift which would impact consumption and preference of consumers.
Example will include, when a price of a can of soda increases slightly from $2.36 to $3.28
Answer:
Explanation:
Last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively.
The producer surplus is the difference between the minimum price that a producer is willing to accept and the price it actually gets. It can be found by calculating the area between the supply curve and the market price.
The producer surplus
= 
= 
= 
= $25
Because of strong demand this year, the equilibrium price and the quantity of good X are $12 and 7 million pounds, respectively.
The producer surplus
=
=
= 
= $42
Answer:
variable overhead efficiency variance= $22,780 unfavorable
Explanation:
Giving the following information:
Standard hours per unit of output 7.0 hours
Standard variable overhead rate $ 13.40 per hour
Actual hours 2,725 hours
The actual output of 150 units
To calculate the variable overhead efficiency variance, we need to use the following formula:
variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Standard quantity= 150*7= 1,050 hours
variable overhead efficiency variance= (1,050 - 2,750)*13.4
variable overhead efficiency variance= $22,780 unfavorable
Answer:
9.39%
Explanation:
Base on the scenario been described in the question, the effective cost of refinancing is 9.39%
