Answer:
A simple model of a firm describes it as an entity that buys production factors – (for example, labor) and sells its output (goods and services). A firm’s input prices, which affect costs, are generally fixed in the short run (like wages, that are established by contract and must be respected during the period they were stablished), while a firm’s output prices, which affect revenue, are adjustable (they do not depend on a contract). Therefore, an increase in the short-run price level raises revenue more than costs, so firms produce more in the short run. Consequently, the SRAS curve slopes upward.
In the long run, however, firm’s input prices are variable, and they will adjust together with the firm’s output prices, making LRAS perfectly inelastic in the potential level of production.
Answer:
the sale price is the cheapest available.
Explanation:
Comparison shopping is the practice or nature of shopping where one compares the price of an item different sources which the individual wishes to purchase. This is done in advance before the actual purchase or shopping. It is done to achieve the best deal in price.
Comparison shopping is ideal or beneficial when buying items which can be easily researched through some advertisements. When doing comparison shopping it is not a good deal to always go for the lowest price available.
Thus, it is not considered a good deal when you go for the sale price that is the cheapest available.
Answer: The actual cost of materials was less than the standard cost
Explanation:
Net materials cost variance = Favorable materials price variance + Favorable materials quantity variance
= 380 + (-120 unfavorable)
= 380 - 120
= $260 favorable
<em>As the materials cost variance is favorable, it means that the actual cost of materials was less than what was budgeted for it or rather its standard cost. </em>
Answer:
Option (B) is correct.
Explanation:
Given that,
Selling price per unit = $48
Desired profit margin on sales = 12.5%
Flyer’s current full cost for the product = $44 per unit
Profit = Selling price × profit margin
= $48 × 12.5%
= $6
Target cost of unit = Selling price - Profit
= $48 - $6
= $42
The answer to the question is Gina (B) is more likely to be perceived as overemotional and incompetent.
This is mainly because of her gender – since Gina is female, and females are often stereotyped as highly influenced by feelings when exhibiting their behaviors, thus, she will be judged as overemotional due to this. She would also be judged as more incompetent than Bill.
