Why does a demand curve with a constant slope not have a constant elasticity?
a. slope measures responsiveness and elasticity measures change.
b. slope is based on absolute change and elasticity is based on percentage change.
c. elasticity depends on more variables than does slope.
d. slope is based on percentage change and elasticity is based on absolute change.
Answers
The elasticity of demand provides a more comprehensive and useful measure of the responsiveness of consumers to changes in price than does the slope of the demand curve.
A demand curve with a constant slope does not have a constant elasticity because the slope and elasticity measure different aspects of the relationship between price and quantity demanded. The slope of a demand curve measures the absolute change in quantity demanded resulting from a unit change in price, while elasticity measures the percentage change in quantity demanded resulting from a unit change in price.
Since elasticity is based on percentage change, it is affected by the initial level of demand, as well as by the responsiveness of consumers to changes in price. For example, a product with a very high initial demand may experience a relatively small percentage change in demand in response to a price increase, resulting in a low elasticity. Conversely, a product with a low initial demand may experience a large percentage change in demand in response to a price increase, resulting in a high elasticity.
In contrast, the slope of a demand curve is based on absolute change and is not affected by the initial level of demand or by consumer responsiveness. Therefore, it is less sensitive to changes in these variables and is less useful for predicting changes in demand resulting from changes in price.
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Related Questions
Q3. Discuss each of the factors that determine the price elasticity of a product with respect to the product or product category listed for your industry. Do you think this product or product category is likely to have a price elasticity of demand that is elastic or inelastic at their current market price levels, looking over a period of 6 months?
Answers
Price elasticity of demand is the degree to which the quantity demanded of a product or service changes in response to a change in price. The following are the main factors that determine the price elasticity of a product:
Availability of substitutes: Products with more substitutes available are more price elastic. If the price of one product rises, consumers can simply switch to a similar product, causing a decrease in demand.
Income of consumers: Products that consume a significant portion of a consumer's income are more price elastic. A small price change in a good will make a big difference in demand if it is a larger percentage of a consumer's budget.
Necessity of a product: Products that are considered necessary are less price elastic. Consumers are more likely to continue buying a good even if the price rises because they cannot easily live without it.
Period of time: The elasticity of a product's price is influenced by the period of time. Products tend to have a more elastic demand over longer periods. Consumers will adapt their behavior if the price of a product remains high over time, which means that demand will decrease.
Therefore, the product or product category of the industry that is being examined, is likely to have a price elasticity of demand that is elastic at their current market price levels, looking over a period of 6 months.
What is Elasticity of Demand?Elasticity of demand is the percentage change in quantity demanded divided by the percentage change in price. It is a measure of how responsive demand is to changes in the price of the good in question. It is calculated as follows:
Ed = % change in quantity demanded / % change in price
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If joanie starts a business to protect the environment by reducing carbon emissions, she has formed a ________ entrepreneurship.
Answers
If Joanie starts a business to protect the environment by reducing carbon emissions, she has formed green entrepreneurship.
Entrepreneurship is the creation or extraction of monetary costs. With this definition, entrepreneurship is viewed as trade, normally entailing risk beyond what's commonly encountered in beginning a business, which can also include different values than in reality financial ones.
Entrepreneurship is the ability and readiness to expand, organize and run a business enterprise, at the side of any of its uncertainties with the purpose to make earnings. The most outstanding example of entrepreneurship is the beginning of recent businesses.
Entrepreneurship is defined because the act of starting and going for walks on your very own enterprise or an inclination to be creative and want to paint for yourself to your personal ventures. An example of entrepreneurship is a person who's running his personal business.
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In what way is money active?
Why is it important to have cash flow?
Answers
Answer:
Money is active because money is money. why is it important to have a cash flow? to build wealth
Explanation:
HELPPPP!!!! WILLL GIVE BRAINLEST!!!
It allows you to rent a car while yours is being repaired. a. auto replacement c. personal damage liability b. comprehensive physical damage d. rental reimbursement
Answers
Answer:
I'm pretty sure the answer is d
Explanation:
Alternatively, you may pay out-of-pocket for your rental then seek reimbursement from the other insurance company once it completes its investigation.
Answer:
D
Explanation:
Burger Blaster claims on its website that it uses only the best beef in making its burgers, unlike Burger Barn, its largest competitor. Actually, Burger Blaster and Burger Barn buy exactly the same type of beef from the same wholesaler, and Burger Blaster's management knows it. As a result of Burger Blaster's claims, Burger Barn's sales fall. Burger Blaster is probably guilty of:
Answers
Answer:
ddf
Explanation:
Trading in company stocks> interest income only
Answers
Based on the merits and demerits of stocks and interest incomes, it is false to say that one is better than the other.
Which is better between interest income and stocks?Interest income is more appealing to certain people such as those who don't want to incur a lot of risk because interest-based investments such as bonds are generally safer.
Stocks are appealing to people who don't mind higher levels of risk as stock returns are generally riskier.
These two things are therefore subjectively better depending on the risk tolerance of the investor.
Complete question:
Trading in company stocks> interest income only
True or False.
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If the economy is operating at point c, the opportunity cost of producing an additional 15 units of bacon is.
Answers
If the economy is operating at point c, the opportunity cost of producing an additional 15 units of meat is 20 units of eggs.
Opportunity cost is a theory that arises from scarcity, as well as unlimited human needs and wants. Therefore, opportunity costs usually occur when humans are faced with two or more choices.
In addition, it is important to understand the concept of opportunity cost because there are several reasons as follows.
Sharpen decision-making skillsIt's wiser to accept the riskForming more positive thoughtsHelp plan a better futureExamples of Opportunity Costs in Daily Life
For example, a person only has 15 dollars. However, he was faced with a choice, namely, to buy fried chicken rice or a boba drink. He can only choose one of the two menus because the money he has is limited. In the end, he chose to buy a boba drink, so he missed the opportunity to eat fried chicken rice.
The picture above is the concept of applying opportunity cost in everyday life. Essentially, any of these opportunity costs must be profitable.
When viewed in terms of cost, the choice of the lowest load or the lowest cost will be an alternative cost. Meanwhile, when viewed in terms of production, choose which sector is able to produce more products than others.
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i need help ASAP!!!! Generally, parties of 8 or more require many restaurants to include gratuity of 18% on the check before presenting to the guest. For a party of 12 and a total check in the amount of $191.40, what is the gratuity amount added to the check for this large party?a) $18.00 b)$34.45 c)$43.54 d)$191.40
Answers
Answer:
b)$34.45
Explanation:
Gratuity is similar to a service charge.
If the bill is $191.40, and gratitude of 18 percent will be added.
The actual gratitude amount that will be added will be equal to
18% of the $191.40 bill.
=18/100 x $191.40
=0.18 x 191.40
= $34.45
I NEED HELP ASAP!!!!
What advice would you give to shavonne to help her solve this problem with translation?
Answers
Answer:
Do that thing with the rope where each kid holds on to a section and that way they are separated and not pushing. you could even make it fun like pretend they are a snake and serpentine.
your company requires that all the data on your ebs-backed ec2 volumes be encrypted. how would you go about doing this?
Answers
Even if you don't use the encrypted=true request parameter, encryption by default enables you to guarantee that all newly generated EBS volumes in your account are encrypted at all times.
What holds true regarding the functionality of encryption with EBS?
What holds true regarding the functionality of encryption with EBS? When you take a snapshot of an encrypted volume, you generate an encrypted snapshot; when you restore an encrypted snapshot, you create an encrypted volume.
What steps should you take to safeguard the data on EBS volumes?
3 Important Things to Keep in Mind to Protect Data in Your Most Important EBS...
EBS Volume Encryption is the first.
Access Management, often known as how to prevent deletion of your EBS volumes, is item number two.
3 - How to Backup and Recover EBS Data Correctly
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In the following pictograph, how many books has Group 3 read?
18
25
15
12
Answers
Answer:
15 is the answer you are looking
six years ago, mr. ahmed loaned $10,000 to a neighbor in exchange for an interest-bearing debt obligation. this year, the neighbor informed mr. ahmed that he was defaulting on the debt. what are the tax consequences to mr. ahmed of this bad debt?
Answers
The tax consequences of this bad debt to Mr. Ahmed are that he is eligible to claim a non-business bad debt deduction on his tax return.
It is given that six years ago, Mr. Ahmed loaned $10,000 to a neighbor in exchange for an interest-bearing debt obligation and the neighbor informed Mr. Ahmed that he was defaulting on the debt. The tax consequences to Mr. Ahmed of this bad debt are that Mr. Ahmed has an option to claim a non-business bad debt deduction on his tax return.
If Mr. Ahmed's loan to his neighbor satisfies the requirements of a non-business bad debt, he may claim a deduction on his tax return. The IRS defines a non-business bad debt as a debt which is created or acquired for investment, personal, or family purposes. It does not include bad debts which arise from operating a business. A non-business bad debt is a debt that is completely worthless and that has no value or prospects of repayment.
The non-business bad debt deduction allows taxpayers to claim a tax deduction for certain types of debt that are considered worthless or unrecoverable. A taxpayer can claim a non-business bad debt deduction when the debt they are owed is deemed to be worthless by the end of the year.
In order to prove that the debt is completely worthless, Mr. Ahmed must be able to show that he made every reasonable effort to collect the debt. He must also be able to show that he does not expect to collect the debt in the future. Once Mr. Ahmed is able to show that the debt is completely worthless, he can claim the deduction on his tax return. The amount of the deduction will depend on the amount of the debt and Mr. Ahmed's tax rate.
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Barry Olson has mastered strong technical skills as the manager of a large toy store. He is very skilled at all the aspects of managing the store and the employees of the store. Soon, he will take a new position as regional manager for several toy stores. His boss remarked to him last week that he will be utilizing his _____ skills to communicate, coach, and motivate managers who have positions similar to his old position.
Answers
Answer:
human
Explanation:
Human skills are the skills that can be related to one another. The person who have the strong human skills that could easily engaged with the audience, potential customer. ALso at the same time they would able to connect with the people and those people who feel the individual at personally level
So as per the given situation it is a human skills
mom???????????????????????
Answers
mom ??????????????????????
Answer:
Go back to bed sweetie, here some fruit snacks now go to sleep.There are no monsters under your bed honey.
Explanation:
Have a great day.
As a producer, you are willing to supply the most goods at the highest price. This is because the highest
price earns you the
most demand
highest costs
most profits
Answers
Answer: most profits
Explanation:
People who are part of the project team need to understand project management because they Multiple Choice Need to understand the project charter or scope statement that defines the objectives and parameters of the project. Work with others to create a schedule and budget. Need to understand project priorities so they can make independent decisions. All of these are reasons it is important for project team members to understand project management. Need to be able to monitor and report project progress.
Answers
Answer:
All of these are reasons it is important for project team members to understand project management.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service.
The fundamentals of Project Management are considered universal across most businesses and professions.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
It is very important and essential that project managers in various organizations, businesses and professions adopt the aforementioned fundamentals in order to successfully achieve their aim, objectives and goals set for a project.
Furthermore, members of the project team need to understand project management because they;
I. Are required to understand the project charter or scope statement that defines the objectives and parameters of the project.
II. Work with other members in the team to create a project schedule and budget.
III. Need to understand the priorities defined by the project manager, so they can make independent and well-informed decisions.
IV. Need to be able to monitor and report the progress of the project as they are being implemented or executed.
Project team needs to understand the project because all of these are reasons which is important for project team members to understand project management.
What is project management?Project management is the postulation of procedures, methods, acquisitions, knowledge and experience to accomplish particular project objectives according to the criteria of project acceptance within agreed constants. Project management has final products that are constrained to a finite timescale and budget.
The fundamental principle of Project Management are considered universal across most businesses and professions.The basics of Project Management includes: Project induction, Project programing, Project executing, Monitoring and powering of the project, Accommodating and closing of project. It is very important that project managers in various organizations and businesses follow the fundamentals in order to successfully achieve their aim for a project.
Moreover, members of the project team need to realise project management because they are required to understand the project scope evidence that defines the objectives and parameters of the project.
Therefore, the option [C] is correct.
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Bloom Corporation had the following 2020 income statement.
Sales revenue $200,000
Cost of goods sold 120,000
Gross profit 80,000
Operating expenses (includes depreciation
of $21,000) 50,000
Net income $ 30,000
The following accounts increased during 2020: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom's 2020 statement of cash flows using the direct method.
Answers
The cash flows from operating activities section of Bloom Corporation's 2020 statement of cash flows using the direct method would show a net cash inflow of $15,000.
To prepare the cash flows from operating activities section of Bloom Corporation's 2020 statement of cash flows using the direct method:
Cash Flows from Operating Activities:
Cash received from customers (Sales revenue - Increase in Accounts Receivable)
= $200,000 - $12,000
= $188,000
Cash paid for inventory (Cost of goods sold + Increase in Inventory)
= $120,000 + $11,000
= $131,000
Cash paid for operating expenses (Operating expenses - Depreciation + Increase in Accounts Payable)
= $50,000 - $21,000 + $13,000
= $42,000
Net cash flows from operating activities
= Cash received from customers - Cash paid for inventory - Cash paid for operating expenses
= $188,000 - $131,000 - $42,000
= $15,000
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consider two markets: the market for coffee and the market for hot cocoa. the initial equilibrium for both markets is the same, the equilibrium price is $5.50 , and the equilibrium quantity is 37.0 . when the price is $9.75 , the quantity supplied of coffee is 71.0 and the quantity supplied of hot cocoa is 101.0 . for simplicity of analysis, the demand for both goods is the same.
Answers
To analyze the two markets for coffee and hot cocoa, let's examine the given information:
Market equilibrium:
Equilibrium price: $5.50
Equilibrium quantity: 37.0
Changes in the market:
Price: $9.75
Quantity supplied of coffee: 71.0
Quantity supplied of hot cocoa: 101.0
Since the demand for both goods is assumed to be the same, we can infer that the demand curve for both coffee and hot cocoa is identical. This means that at each price level, the quantity demanded will be the same for both goods.
Now, let's analyze the changes in the market:
Coffee Market:
Equilibrium price: $5.50 (initially)
Quantity supplied: 37.0 (initially)
Price: $9.75
Quantity supplied: 71.0
Based on this information, we can see that the quantity supplied of coffee has increased from 37.0 to 71.0 when the price increased from $5.50 to $9.75. This indicates that coffee suppliers are willing to supply more coffee at a higher price, suggesting a positive relationship between price and quantity supplied.
Hot Cocoa Market:
Equilibrium price: $5.50 (initially)
Quantity supplied: 37.0 (initially)
Price: $9.75
Quantity supplied: 101.0
Similarly, in the hot cocoa market, the quantity supplied has increased from 37.0 to 101.0 when the price increased from $5.50 to $9.75. Again, this indicates that hot cocoa suppliers are willing to supply more hot cocoa at a higher price, demonstrating a positive relationship between price and quantity supplied.
Overall, the changes in the coffee and hot cocoa markets show that the quantity supplied increases when the price increases. This behavior is consistent with the law of supply, which states that as the price of a good rises, suppliers are willing to supply more of that good.
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What pathways would be necessary to carry you to the leaves of these trees.
All of the above.
1. apoplastic
2. bulk flow
3. symplastic
4. transmembrane
Answers
You would need to travel via transmembrane, symplastic, apoplastic, and bulk flow to reach the leaves of these trees.
The transfer of gases (oxygen and carbon dioxide) to a low-pressure location during respiration is referred to as bulk flow. The chest cavity's size and form are altered by the breathing process, which is managed by the respiratory system's muscles. Compared to diffusion or evaporation, which both need passive material transport from a high to low pressure environment, bulk flow happens more quickly in plants. Diffusion is a problem for tall plants, though, as it only transports materials a limited distance.
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Who do you think has the most
influence?
Answers
Answer:
because the influence is an important
In a negative message regarding a transaction, the salutation should be _____.
A. addressed To Whom It May Concern
B. Dear Sir or Madam
C. personalized to the recipient
D. Dear Customer
Answers
In a negative message regarding a transaction should be personalized to the recipient. The answer is C.
When delivering a negative message, such as informing a customer about a transaction issue or problem, it is important to maintain a professional and courteous tone.
Personalizing the salutation by addressing the recipient directly helps establish a sense of empathy and respect. It shows that the sender acknowledges the recipient as an individual and values their relationship.
Using a generic salutation like "To Whom It May Concern" or "Dear Sir or Madam" can come across as impersonal and detached, which may not be suitable for addressing a negative message.
Instead, addressing the recipient by name or using a more personalized salutation such as "Dear Customer" shows that the sender recognizes the recipient's identity and wants to communicate with them on a more personal level.
Hence, the answer is: C. personalized to the recipient.
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Why should people be cautious when considering a loan with a variable
interest rate?
О
A. Borrowers are locked in at the rate that is offered.
О
B. The interest rate may increase after an introductory period.
C. The interest rate may decrease if more competitive rates are
offered
D. An annual percentage rate is not required on variable rates.
Answers
Answer: B - The interest rate may increase after an inductor period.
B. The interest rate may increase after an introductory period.
What Is the Danger of Taking a Variable Rate Loan?Your lender can trade your hobby fee at any time. at the same time as this does present possibilities for lower interest quotes, you could additionally be assessed hobby at better costs that are increasingly developing. there may be no way of understanding what your future hobby fee exams could be underneath a variable fee agreement. Therefore, you can grow to be with insufficient coins glide to pay down monthly payments as the one's payments may also grow inside the future.
Interest costs are much more likely to decline all through periods of slower financial interest. To encourage business improvement and process advent, the Federal Reserve will often decrease fees which forces decreased borrowing prices for loans on a variable rate.
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Haywood Printing is processing a job with the following activity rates: Activity Cost Driver Driver Rate Direct labor Number of hours $ 9. 00 Copying Number of copies $ 0. 07 If this job requires 5 hours for 3,000 copies, what is the activity-based cost of the job
Answers
In the case of Haywood Printing, for 1,000 copies, the activity-based cost of $210 was spent on copying .
How much does the work cost activity-based?The activity-based costing method divides up direct and indirect costs, such as salaries and utilities, among products and services. This cost accounting approach is based on activities, which are understood as any occurrence, unit of labor, or project with a specific goal. Purchase orders or machine settings are examples of activities that are cost drivers.
Using the cost driver rate, which is the cost pool total divided by the cost driver, one may calculate the amount of overhead and indirect expenses related to a certain activity. This costing approach is used in a variety of costing processes, including target costing, product costing, product line profitability analysis, customer profitability analysis, and service pricing.
Given:
The entire activity-based cost computation.
The total activity-based cost is $9
Hence the amount of $210 was spent on copying
= (3,000 × 0.07).
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Dorsett Technologies had finished goods inventory on January 1, 20X8 of $29,500 and finished goods inventory on December 31, 20X8 of $24,300. If the cost of goods sold for the year was $428,000, what was the cost of goods manufactured for the year?
i. $402,400
ii. $422,800
iii. $417,600
iv. $428,000
v. None of the answers is correct
Answers
None of the provided answer choices are correct. The correct cost of goods manufactured for the year is $433,200.
To calculate the cost of goods manufactured, we need to consider the change in finished goods inventory during the year. The formula to calculate the cost of goods manufactured is as follows:
Cost of Goods Manufactured = Beginning Finished Goods Inventory + Cost of Goods Sold - Ending Finished Goods Inventory
Using the given values:
Beginning Finished Goods Inventory (January 1, 20X8) = $29,500
Ending Finished Goods Inventory (December 31, 20X8) = $24,300
Cost of Goods Sold = $428,000
Cost of Goods Manufactured = $29,500 + $428,000 - $24,300
Cost of Goods Manufactured = $433,200
Therefore, none of the provided answer choices are correct. The correct cost of goods manufactured for the year is $433,200.
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Thinking about your office or college, what types of
information are conveyed through the grapevine? How
often is the information accurate?
Answers
Answer: I would experience a lot of cluster chains speaking on if someone was in trouble. An employee would be called to the back office if they were either in trouble or getting a promotion.
Explanation:
Francis has an internship at a law firm, takes an art class, and researches colleges that offer majors in veterinary science. Which of these actions increases Francis's human capital?
A.
both the internship and the research
B.
only the internship
C.
both the internship and the art class
D.
only the research
Answers
Answer: C. both the internship and the art class
Explanation:
Human capital simply means the economic value of the skills and the experience of a worker. Human capital includes the training, health, skills, education, of workers.
From the question, Francis human capital will be both the internship and the art class as they will provide him with the needed experiences. Therefore this is a form of human capital.
how does a production possibilities model differ from a budget constraint model?
Answers
A production possibilities model and a budget constraint model are both used in economics to analyze how resources can be allocated to maximize production and consumption. However, they differ in several ways:
Scope: A production possibilities model is used to analyze the trade-offs between two different goods or services that can be produced with a given set of resources, while a budget constraint model is used to analyze the trade-offs between two different goods or services that can be consumed with a given income or budget.Assumptions: A production possibilities model assumes that all resources are fully employed, and there is no unemployment or underemployment. In contrast, a budget constraint model assumes that the consumer has a limited income or budget and must choose how to allocate it between different goods or services.Variables: A production possibilities model focuses on the production of goods or services, and the variables used are the quantity of goods produced. A budget constraint model focuses on the consumption of goods or services, and the variables used are the quantity of goods consumed.Shapes of curves: The curves used in the production possibilities model are typically concave, implying increasing opportunity costs as the quantity of one good produced increases. The budget constraint model typically uses a linear curve, implying constant opportunity costs.Overall, while both models share some similarities, they differ in their assumptions, scope, and the type of analysis they are used for. The production possibilities model is used to analyze production decisions, while the budget constraint model is used to analyze consumption decisions.
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A ucf grad has gross monthly income of $3,200 and net take home pay of $2,900 per month, which approximates his/her monthly living expenses. What is the minimum amount should have in his/her emergency fund?.
Answers
$8,700 is the minimum amount should have in his/her emergency fund.
Most professionals might benefit from having a basic comprehension of the financial notion of gross monthly income. Although you can anticipate seeing this amount on your pay stubs, you can also do the math on your own.
Knowing your gross income and how to calculate it, regardless of whether you're a salaried, hourly, or contract worker, can be beneficial to you both professionally and personally because it's necessary for things like figuring out your earnings and applying for a loan or credit.
A cash reserve especially set aside for unforeseen costs or financial emergencies is known as an emergency fund. Car repairs, home repairs, medical expenses, or lost wages are a few typical examples.
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cost-volume-profit analysis is based on necessary assumptions. which of the following is not one of these assumptions? multiple choice inventory levels are never constant. sales mix is constant. units produced are sold. costs can be classified as variable or fixed. costs are linear within the relevant range.
Answers
Inventory levels are never constant.
Costs are linear within the relevant range.
Finding out how changes in variable and fixed expenses impact a company's profit can be done using a cost-volume-profit (CVP) analysis.
Companies can utilize CVP to determine how many units they must sell to attain a specific minimum profit margin or break even (pay all expenditures).
The assumptions that CVP makes, such as assuming the sales price and the fixed and variable cost per unit are constant, determine its dependability.
Within a predetermined level of output, the expenses are fixed. Assuming that every unit produced is sold, all fixed expenses must remain stable.
Another supposition is that changes in activity levels always result in changes in expenses. It is necessary to divide semi-variable expenses into expense categories using the high-low approach, scatter plot, or statistical regression.
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What is the marginal revenue and marginal cost for this diagram?
What type of market is this? Explain your answer
Answers
Marginal revenue :
2060120200300420560Marginal cost :
108210192640It is a Monopolistic market structure because marginal revenue is greater than the marginal cost.
Marginal Revenue is the increase in the revenue by selling one extra product in the market. It is calculated by the Change in revenue divided by the change in output.
Marginal cost is the change in cost by producing one extra unit of output. It is calculated by a change in cost divided by the change in units.
Monopolistic market structure is where there are multiple companies producing similar products in the market.Example for monopolistic structure can be a grocery store.
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