Answer:
False
Explanation:
LIFO System is an Inventory management system the Sales the Recent Inventory first followed by Inventory Acquired in past.
This results in Sales Carrying <em>Prices of the Most Recent Purchases</em> and Closing Inventory<em> Carrying Old Prices.</em>
The method that assigns costs from most recent purchases at the point of each sale is<em> Weighted Average Cost Method.</em>
Answer:
The correct answer is option a.
Explanation:
Opportunity cost can be defined as the cost involved in sacrificing or giving up the alternative choice. Opportunity cost is an implicit cost. Unlike explicit cost it is not included in accounting cost. But it is included in economic costs.
The principle of increasing marginal opportunity cost states that as we go on employing more resources the marginal opportunity cost of sacrificing the alternative choice goes on increasing. As a result, with each additional resource employed the payoff or return from that resource goes on declining, or in other words, becomes smaller.
Answer:
22
Explanation:
A monopoly will maximize profit at MR = MC ( marginal revenue = marginal cost)72
MR =MC
40 -0.5 Q = 4
-0.5 Q = 4 - 40 = -36
Q = -36 / -0.5 = 72
The price of the her product
Q = 160 - 4P
4P = 160 - 72 = 88
P = 88 / 4 = 22