Answer: substitute
Explanation:
After firm A acquired firm B, it raised the prices for the goods produced by both firms. This can increase profits if those goods are substitutes.
Substitute goods are the goods that serve thesame functions and one can be used to replace the other one. Since both goods produced are substitutes, that means when there's price increase, even though consumers shift from one good to another, there's still rise in price which will increase profits
A much greater marginal cost than marginal benefit.
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Explanation:</u></h3>
Marginal cost refers to the cost that is added by the production of one additional unit of any product or service.The costs that are included in the various levels of production will be encapsulated in the Marginal cost. For instance consider that a company decides to build a new plant in producing goods and services in addition.
The cost associated with the construction of this new plant is the marginal cost. In many cases the complete elimination of the externality would be involving A much greater marginal cost than marginal benefit.
4% is the percent change in real income.
What is the meaning of real income?
Real income, also known as real pay when referring to an individual's income, is the amount of money that an individual or entity makes after taking inflation into account. To have the best knowledge of their purchasing power, people frequently closely monitor the difference between their nominal and actual income.
What is meant by nominal income?
Nominal income is money that hasn't been adjusted for inflation-related changes in buying power, or how much one can buy with that money.
What Is Price Level?
The price level is determined by averaging the current prices for all the goods and services produced in an economy. Price level, in a broader sense, refers to the cost or price of a good, service, or security in the market.
Learn more about real income: brainly.com/question/17094716
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Answer:
a. $612
b. $2,480
Explanation:
a. Overhead is applied at a rate of $12 per direct labor hour.
Overhead applied would therefore be;
= 12 * total labor hours
= 12 * 51
= $612
b. Total Cost = Direct labor cost + Direct Material cost + Manufacturing overhead
= 978 + 890 + 612
= $2,480
Thinking summarizes the operating, financing and investing activities of an entity
