Answer:
Produces products that are considered elastic
Explanation:
Technological changes is one of the key determinant of the supply and we know that technological advancement in the production of a particular commodity will lead to increase the production level of the firm. This will lead to shift the supply curve rightwards, which increases the equilibrium quantity and decreases the equilibrium prices.
Hence, if the demand for the products is elastic then the total revenue of the firm increases because this firm has the more quantity effect than the price effect, so this will increase the firm's profit.
Government regulations are necessary because they protect public safety and market fairness. For example, food safety regulations help protect consumers from pathogens that could cause widespread illness. By creating regulations, the government can make the food-borne illness less likely. However, even though these regulations are necessary, they must still meet constitutional requirements. Producers and consumers have the right to own and use property, among other constitutional rights.
Known as <u>compliance-based ethic codes</u> these ethical standards emphasize preventing unlawful behaviour by increasing control and by penalizing wrongdoers.
Compliance-based ethical codes are those that outline moral requirements with an emphasis on preventing unethical activity by tightening regulations and punishing offenders. Integrity-based ethical codes are those that specify an organization's guiding principles and foster a culture that encourages moral behavior. A compliance-based code of ethics is created to ensure that the company and its personnel abide by all rules and regulations properly. The prevention, detection, and punishment of non-compliant conduct are three important components. For instance, Jeremy's compliance-based code might forbid his employees from materially misrepresenting the truth when acting in the course of their job.
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Answer:
fixed costs = $255,000
variable costs = (15,000 / 17,000) x $216,750 = $191,250
Explanation:
A flexible budget is prepared in order to compare how budgeted revenues and costs actually worked out. In other words, if actual revenues and costs were similar to the budget previously prepared. A flexible budget adjusts actual results and helps management control how efficient the company was in following their budget. That is why a flexible budget is done after the budgeted period is over.
Fixed costs should not change (that is why they are fixed), but variable costs should change if the actual output was different than the budgeted output.
Answer:
larger long-term credit or loan costs
less preparation for emergencies
increased long-term challenges
Explanation:
Personal finance involves planning and managing individual or family financial activities such as income generation, saving, spending, insurance, and investments. The process of managing personal finance is through budgeting and the development of a financial plan.
Personal finance can be done by oneself or with the help of a personal financial manager. The objective is to help one meet both their short term and long term financial goals. Personal finance planning assists one meet expected future expenditures such as retirement while preparing them for unforeseen emergencies.
