Answer with Explanation:
A "Centrally Planned Economy" refers to an economy where the government's authority affects the economic decisions of the business owners. This means that the business owners and the consumers do not have a say when it comes to their decisions regarding the supply and demand of the items.
This also means that the business owner cannot decide on what product he will be producing, including its process of production and distribution.
Additional Explanation:
Although the command economy signals a <em>lack of freedom for business owners,</em> it has some advantages as well. It results to <u>low unemployment level.</u> The government has the ability to set the number of workers that the business owners will hire in order to address the unemployment rate. Products and services that will be produced are all directed for <em>the good of the people</em>. It is not "profit-driven."
Answer: b) No
Explanation:
If you double the capacity of the bottleneck operation i.e the operation that has a limited capacity that is causing the entire project to slow down, it could work for removing the bottleneck from that particular operation. The problem however, is that this bottleneck might then be passed into another operation which will then slow down the entire process again.
Think of this this way, imagine there is constant traffic on one road with a double lane in a city and the city decides to up it to a four lane drive. The traffic subsides in that area but still continues on the road lane after the upgraded road which is a 2 lane as well.
The problem may have been fixed in one area but might just come up in another one.
Answer:
The correct answer is letter "A": Risk identification.
Explanation:
Risk identification is one of the steps used in the risk management process. Risks are determined through the measurement of the parameters that define them, the size of the loss or possible damage, and the possibility that the loss or damage eventually takes place.
Answer:
The firms make a $1 per bushel in profit.
Explanation:
When the price is greater than the long run total costs, then a profit is being generated. This helps the firms in the perfectly competitive oat industry to remain in the industry since they are making 100% profit on their investments, which they may not get elsewhere. If they are not making such large profits, some of the firms may decided to leave the industry and relocate their resources to other industries where they can make enough profits.
Answer:
$1,275,000
Explanation:
The computation of the contribution margin is shown below:
As we know that
Contribution margin = Sales - variable cost
or
Selling price per unit - variable cost per unit
And, the direct material per unit, direct labor per unit, and the Variable overhead per unit are variable cost
So, if 50,000 units are sold, the contribution margin per unit is
= 50,000 × ($33 - $1.50 - $2.50 - $3.50)
= $1,275,000
