<span>If a consumer was asked to rank different combinations of goods and services terms of how much utility they provide, then a bundle with a total of 112 cds and dvds would rank higher than a bundle with a total of 10 cds and dvds, if based on total of goods only. This does not take into account the contents of the media.</span>
expansion to contraction
Explanation:
The peak in a business cycle is marked by super-heated business sentiments, growth in business and increased production and hence enhanced profits. However, the transition to peak cycle is marked by a continuous phase of declining production capacity, depreciating profits and contraction of the business process.
Peak, contraction, slowdown, recovery is the phases of the cyclical business process. Peak gives way for contraction which eventually leads to slowdown. After a brief period of lull, the business recovers and again it ascends its peak and the cycle continues.
Answer:
cost of goods manufactured= $3,760
Explanation:
1.
We weren't provided with the list
2.
Direct materials: $2,600
Factory overhead: $510
Direct labor: $1,200
Beginning work in process: none (December 31, 2019)
Ending work in process: $550 (January 31, 2020)
<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 0 + 2,600 + 1,200 + 510 - 550
cost of goods manufactured= $3,760
Answer:
0.67; $485,074.67
Explanation:
Given that,
Total sales revenue = $900,000
Variable expenses = $300,000
Total fixed expenses = $325,000
Contribution margin:
= Sales revenue - Variable expenses
= $900,000 - $300,000
= $600,000
Contribution margin ratio:
= Contribution margin ÷ Sales revenue
= $600,000 ÷ $900,000
= 0.67
Break-even point in dollars:
= Total fixed expenses ÷ Contribution margin ratio
= $325,000 ÷ 0.67
= $485,074.6
Answer: E) above the market wage, causing labor demand to be less than labor supply.
Explanation:
Minimum wage simply refers to the lowest wage that employers can pay their workers. Minimum wage is a form of price floor which means that it's typically higher than the equilibrium or market wage.
In this case, since it's higher than the market wage, there'll be an increase in the supply of labor as those that are unemployed will be willing to work duw to the increase in the wage rate.
On the other hand, there'll be a reduction in the demand for labor as employers typically will want to reduce cost and won't be interested in employing more workers.
Therefore, the correct option is E
