BUSINESS HIGH SCHOOL

Consumer tastes or preferences would be most likely to have an effect on A. elasticity.
B. demand.
C. the Law of Supply.
D. supply.

Answers

Answer 1
Answer: Consumer tastes or preferences would most likely have an effect on B. DEMAND.

If a product is numerous and affordable but is not in accordance to consumer's taste or preference, then there will be no demand on the product supplied.

If the product has limited stock and is costly but it is preferred by the consumers, then demand of the good will still be steady.
Answer 2
Answer:

Final answer:

Consumer tastes or preferences most directly impact demand, as it is driven by consumer behavior. Their preferences may also indirectly influence supply and elasticity, with changes leading to shifts in production or affecting how price changes impact demand.

Explanation:

Consumer tastes or preferences are most likely to have an effect on B. demand. This is due to the basic economic principle that demand is driven by consumer behavior. If consumers prefer a particular product or service, demand for that product or service will increase. On the other hand, if consumers' preferences change and they no longer want a particular product or service, demand will decrease.

Although consumer preferences could indirectly influence supply and elasticity, the most direct impact is on demand. In terms of supply, if consumers' preferences shift towards a specific product, it may prompt manufacturers to increase production, which would increase the supply. As for elasticity, when there is a strong preference or need for a product, its demand tends to be inelastic, as changes in price have less effect on the quantity demanded.

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Today, Jennifer earns $45000 at her first job. Her mom used to make $15,000 at her first job in 1975. Jennifer is of the opinion that she makes more than her mom would have made if she started working today. Her mom thinks Jennifer would have earned less than she itf Jennifer had started working in 1975. If the CPl today is 237 and the CPl in 1975 was 82, A. Jennifer is correct. Her mom's salary in today's dollars would be $43354. B. Jennifer is wrong Her mom's salary in today's dollars would be $5190 C. Jennifer's mom is wrong. Jennifer's salary in 1975 dollars would have been $15570. D. Jennifer's mom is correct. Jennifer's salary in 1975 dollars would have been $130061.

Cost, which does not involve cash outlay, is called: Options Historical cost Imputed cost Out of pocket cost.

Answers

Cost, which does not involve cash outlay is called : Imputed Cost

Imputed cost another term for opportunity cost , which is the amount of cost that indirectly incurred to you as the result of a decision making. This type of cost usually does not directly affect the amount of your cash

You want to create a relational database for your company. Which application below would assist you in doing this?a. Visio
b. Project
c. Access
d. Evernote

Answers

The right answer for the question that is being asked and shown above is that: "c. Access." You want to create a relational database for your company. The application that would assist you in doing this is the Microsoft Access. It is just a simple database handler.

If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for?

Answers

The most important thing is to have low credit card fees. Some of them are annual fee, financial charge, late fee, over-the-rate fee.. Also low fee on balance transfers is very important and low APR (Annual percentage rate). APR can be fixed but also variable, however it depend on the amount of balance, the larger the balance, the bigger the rate. You should also look for a reward for using their credit card.

Automatic stabilizers are critical to the success of supply-side policies. True or False

Answers

That statement is False

Automatic stabilizers are NOT critical to the process of supply-side policies. Supply side policies are an attempt to increase production, meanwhile automatic stabilizers only used in the case of emergency, not really affecting productivity

You have returned from a trip to Europe and still have €128 euro. How much in U.S. dollars should you receive if the exchange rate is $1 USD = €EUR 0.6991?$128.70
$183.09
$127.30
$89.48

Answers

$183.09 is the amount in U.S. dollars should you receive if the exchange rate is $1 USD = €EUR 0.6991. Hence, option B is correct.

What is exchange rate?

The rate at which one currency can be exchanged for another is known as the exchange rate between two currencies. In other words, the exchange rate is the cost of one currency relative to another.

You may find out the worth of your currency in another currency using an exchange rate. Consider it to be the cost associated with buying that currency. For instance, in June 2022, the exchange rate between the two currencies was 1.05 for the euro and 0.95 for the dollar.

The price of one country's currency in terms of another country's currency is what is known as the exchange rate. Therefore, £1 will buy you $1.35 if the exchange rate between UK pounds and US dollars is 1.35.

Thus, option B is correct.

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Answer:

183.09

Explanation:

128/0.6991=183.09

If 18,000 units are produced and sold, what is the variable cost per unit produced and sold?2. if 22,000 units are produced and sold, what is the variable cost per unit produced and sold?3. if 18,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold?4. if 22,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold?5. if 18,000 units are produced, what is the average fixed manufacturing cost per unit produced?6. if 22,000 units are produced, what is the average fixed manufacturing cost per unit produced?7. if 18,000 units are produced, what is the total amount of fixed manufacturing overhead incurred to support this level of production?8. if 22,000 units are produced, what is the total amount of fixed manufacturing overhead incurred to support this level of production?

Answers

Based on the information given, it should be noted that the variable cost per unit will be $14.

Calculation of the Variable Cost.

The variable cost per unit will be:

= Direct materials + Direct labor + Variable manufacturing overhead + Sales commission + Variable administrative expenses

= 7 + 4 + 1.5 + 1 + 0.5

= 14

The total amount of variable cost will be:

= 14 × 18000

= $252000

When 22,000 units are produced and sold, the total amount of variable cost will be:

= 22000 × 14 = $308000

The average fixed cost manufacturing cost per unit will be:

= (20000 × 5)/18000

= 5.56

When 22,000 units are produced, the average fixed manufacturing cost per unit produced will be:

= (20000 × 5)/22000

= 4.55

The total amount of fixed manufacturing overhead incurred will be:

= 20000 × 5

= $100000.

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Answer:

1) total variable cost per unit $14

2) total variable cost per unit $14

3) total variable cost = $14 x 18,000 = $252,000

4) total variable cost = $14 x 22,000 = $308,000

5) average fixed manufacturing cost = $100,000 / 18,000 units = $5.56 per unit

6) average fixed manufacturing cost = $100,000 / 22,000 units = $4.55 per unit

7) total fixed manufacturing overhead = $100,000

8) total fixed manufacturing overhead = $100,000

Explanation:

The company's variable costs for producing 20,000 units

  • direct labor cost is $4 per unit
  • direct material is $7 per unit
  • variable manufacturing overhead $1.50 per unit
  • sales commissions $1 per unit
  • variable administrative expense $0.50 per unit
  • total variable cost per unit = $14

The company's variable costs for producing 20,000 units

  • fixed manufacturing overhead $5 x 20,000 = $100,000
  • fixed selling expense $3.50 x 20,000 = $70,000
  • fixed administrative expense $2.50 x 20,000 = $50,000
  • total fixed costs $220,000
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