Answer:
Supply equals demand
Explanation:
Equilibrium is a situation which occurs when there is a balance between quantity demanded and quantity supplied.
Answer:
a.$5 per direct labor hour
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $100,000 ÷ 20,000 direct labor hours
= $5 per direct labor hour
Simply we divide the total estimated manufacturing overhead by the estimated direct labor hours so that the correct rate can come
All other information which is given is not relevant. Hence, ignored it
The answer is D. Demand Schedule
Answer:
$2,900
Explanation:
If we use a cost function, it will be easy to understand. Cost function = (variable cost per unit × quantity) + fixed cost.
Here,
Direct cost per snowmobile = $2,000. It is the variable cost.
Overhead cost = $90,000. It is a fixed cost.
Total snowmobiles = 100 units
Total cost = ($2,000 × 100 snowmobiles) + $90,000
Total cost = $290,000
We know,
Average cost per snowmobile = Total cost ÷ total quantity
Average cost per snowmobile = $290,000 ÷ 100
Average cost per snowmobile = $2,900
1) A small caribbean islands economy depends on tourism. However in recent times, it has seen much less economic activity. Its government decides to let the market correct the situation------Hayek
In contrast to Keynes, Hayek trusted that certifiable recuperation from a post-blast crash called for satisfactory spending as well as for an arrival to economical generation - creation cleansed of blast period mutilations caused by pain free income.
Hayek was expelled as somebody who needed to "exchange work, sell stocks, sell the agriculturists, etc.
2) Flour prices have risen in a country where bread is a stable part of the diet. As a result, bread prices have risen tremendously. In an effort to make bread affordable for it's citizens, the government has limited how much bakers can charge for bread.------------Keynes
During the Great Depression of the 1930s, existing financial hypothesis was not able either to clarify the reasons for the extreme worldwide monetary crumple or to give a sufficient open strategy answer for kick off creation and business.
British economist John Maynard Keynes led an unrest in monetary reasoning that upset the then-overall thought that free markets would consequently give full business—that will be, that everybody who needed an occupation would have one as long as laborers were adaptable in their wage requests.