Aldi!!! Personal preference due to the organization.
Answer:
The correct answer is option
Explanation:
A firm operating in a perfectly competitive market is producing 800 units. The marginal cost is $3.50. The minimum average variable cost is $3. The market price is $4.
The firm will be able to maximize its profit at the point where the price of the product is equal to marginal cost and is able to cover the average variable cost of the product.
This firm should thus increase its production to more than 800 units till the marginal cost is equal to the price which is $4.
I would go with C)it's harder to get credit if you have filed bankruptcy
Answer:
The price variance is unfavorable, while the efficiency variance is favorable
Explanation:
To determine the labor efficiency variance, we will use the following formula: Variance = (standard hours – actual hours) x standard rate = variance = (250 hours – 200 hours) x $10 per hour = 50 hours x $10 per hour = $500 favorable
To determine the labor price variance, we will use the following formula: variance = (standard rate - actual rate) x standard hours = ($10 per hour - $12 per hour) x 250 hours = -$2 per hour x 250 hours = -$500 unfavorable
