Answer:
<u>The correct answer is that Rachel's workshop total cost is US$ 5,700 per month and US$ 19 of average cost per unit sold every month.</u>
Explanation:
<u>1. Rachel's workshop monthly costs</u>
Rent US$ 600
Salaries US$ 3,600
Insurance premium US$ 300
Raw materials US$ 1,200
<u>Total monthly costs US$ 5,700</u>
<u>2. Rachel's workshop average monthly costs</u>
Number of units sold per month = 300
Average monthly costs = Total monthly costs/Number of units sold
Average monthly costs = 5,700/300
<u>Average monthly costs = US$ 19</u>
Characteristics/Features of , microeconomics
Nature of Analysis - In microeconomics the behavior of individual consumers and producers in detail is analyzed. It is the study of the subject matter from particular to general.
Method - Microeconomics divides the economy into various small units is analyzed in detail. It is a slicing method.
Scope - Microeconomics analysis involves product pricing. factor pricing and theory of welfare.
Application - Both theoretically and practically , micro economics is useful in formulating various policies, resource allocation. Public finance, international trade....
Nature of Assumption - Assumption of Ceteris Parabus is always made in every microeconomics theory. it means theory is applicable only when other things being same.
Hope that helps!!!!
Which Accounts are Affected? Which Account Category is Affected? What is the Account Balance? Does the Account Increase or Decrease? Do the Debits and Credits Balance?
The answer is recency. This part of the RFM model. It is a marketing investigation tool used to classify a firm's best customers by calculating definite factors.
The RFM model is founded on three quantitative factors which are:
Recency - How recently a customer has made an acquisition or purchase of productFrequency – How frequent or often a customer makes a purchaseMonetary Value - How much cash a customer spends on purchases
RFM analysis often sustains the marketing saying that "80% of business comes from 20% of the customers."
Negotiating prices!
(11.6.2017)