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3 years ago

Average cost pricing

Business

1 answer:

kumpel [21]3 years ago

7 0

Answer:

4. is most likely to result in the expected level of profit when demand is inelastic within the range of possible prices.

Explanation:

Average cost pricing is most likely to result in the expected level of profit when demand is inelastic within the range of possible prices. The average cost pricing rule is a pricing strategy that regulators impose on certain businesses to limit the price they are able to charge consumers for its products/services equal to the costs necessary to create the product/service. This implies that businesses will set the unit price of a product relatively close to the average cost needed to produce it.

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the cumulative difference between reporting inventory at lifo rather than fifo is commonly referred to as the

UkoKoshka [18]

The cumulative difference between reporting inventory at LIFO rather than FIFO is commonly referred to as the LIFO reserve

<h3>What is LIFO reserve?</h3>

Generally, LIFO reserve is an accounting term that represents the difference between the cost of inventory calculated using the first-in, first-out (FIFO) method and the cost calculated using the last-in, first-out (LIFO) method for the purposes of bookkeeping.

In conclusion, The LIFO reserve is a term that is widely used to refer to the accumulated discrepancy that results from reporting inventory using the LIFO method rather than the FIFO method.

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8 0

1 year ago

In which career or job role in business information management do you need to create and manage project plans, and also coordina

RoseWind [281]

Answer:

B. project manager

Explanation:

The project management responsibility is to create a plan to execute. For this the interaction with team members is key.

5 0

3 years ago

5) Devid Recardo proposed the theory of comparative cost in

Lerok [7]

Answer: D) 1817

David Ricardo development the theory of comparative cost in 1817 to explain why countries engaged in international trade.

4 0

3 years ago

Juanita makes $16 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $1

Sauron [17]

Answer:

She buys it from the "Neighboring city". The further explanation is given below.

Explanation:

The cost of opportunity while shopping from Local dept. store:

= $(15\times 2+30)\times 16$

= $(30+30)\times 16$

= $1 \ hour\times 16$

= $16$

The cost of opportunity while shopping from across town:

= $(30\times 2+30)\times 16$

= $(60+30)\times 16$

= $1.5 \ hours\times 16$

= $24$

The cost of opportunity while shopping from neighboring class:

= $(60\times 2+30)\times 16$

= $(120+30)\times 16$

= $2.5 \ hours\times 16$

= $40$

Now,

<u>Store Opp. Cost Price Total cost</u>

Local dept. store 16 103 119

Across town 24 89 109

Neigh. city 40 63 103

Therefore, a Neighboring city would be the right answer.

8 0

3 years ago

8. Problems and Applications Q8

Liono4ka [1.6K]

The quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise.

<h3>What does a union among workers represent in economy?</h3>

In the macroeconomic model, a union among workers will increase the wage rate, thereby the supply of manufacturing workers will also increase.

This phenomenon is associated with a decrease in the demand and quantity of manufacturing workers.

In conclusion, the quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise if manufacturing workers formed a union.

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5 0

2 years ago