How does competition influence the price of a good to either purchase or produce

If the CPI in a given year is 300, this means that: Group of answer choices price have fallen since the base year prices are 200 percent higher than in the base year the economy is experiencing hyper inflation prices are three times higher than the

Bannister Motors Corporation reported the following variances for the period just ended: Variable-overhead spending variance: $50,000U Variable-overhead efficiency variance: $28,000U Fixed-overhead budget variance: $70,000U Fixed-overhead volume

Under average-cost pricing, the government will raise the price of output whenever a firm's costs increase, and lower the price whenever a firm's costs decrease.

Cavern Company's output for the current period results in a $5,250 unfavorable direct material price variance. The actual price per pound is $56.50 and the standard price per pound is $55.00.

Balance sheet accounts Group of answer choices 1. are called real accounts 2. have zero balances after the closing entries have been posted 3. are not affected by adjustments 4. represent amounts accumulated during a specific period of time

Many cooks view butter and margarine to be substitutes. if the price of butter rises, then in the market for margarine:

Last year, Richmon Company produced 10,000 units and sold 6,000 units at a price of $20. Costs for the last year were as follows: Direct materials $30,000 Direct labor 38,000 Variable factory overhead 8,000 Fixed factory overhead 40,000 Variable

True or false? adults are categorized as those ages 25-64.

Agnes sold 50 shares of ABC stock to her son, Steve, in year 4 for $42,000. She bought the stock eight years ago for $50,000. Steve sold the stock to an unrelated party in year 6 for $60,000.

Denim Supply Inc. does not feel the pressure to create custom jeans for any of its markets around the world, but it does want to focus on cost reductions. What strategy should this company consider using to achieve this?