Answer:
separates costs into fixed and variable component
can assist with management decision making
Explanation:
The contribution margin may be defined as when we deduct the expenses of the variable from sales. Where contribution margin shows the organization revenue is contributing to net income and fixed cost.
The statement of contribution margin income tells of the earnings at various stages of operations.
This report of income is not used for external reporting purposes but rather for internal decision making by the management.
Therefore according to the above description, the last two statements are correct.
Answer:
O Concert tickets
Explanation:
Elastic demand is the demand that is highly responsive to changes in prices. A small change in price causes the demand to change by a big proposition. When the demand is elastic, the change in demand is not propositional to changes in price.
Non-essential goods tend to have elastic goods. These are the goods that consumers can survive without. Demand for non-essential tends to decrease or increase in a big proposition when prices rise or fall by a small margin. From the list provided, concert tickets are non essential goods.
Factors of production are common to all productive activities, regardless of the economic system. Labor, as a factor of production, relates only to the production of manufactured goods; services are not included. So it is True
