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What is the difference in relative costs and relevant costs?
Relative costs refer to the comparison of costs between different alternatives or options, helping in decision-making processes by assessing which option is more economical. Relevant costs, on the other hand, are specific costs that will directly impact a decision, typically involving future costs that can be avoided or incurred based on the choice made. While relative costs help compare options, relevant costs focus on those that are pertinent to a specific decision.
What is perceived value?
The customer's evalution of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.
Firms with a high degree of operating leverage are?
Have a high amount of fixed costs relative to their variable costs. DOL= CM / Net Income We derive CM by the eqaution of Selling Price - Variable Costs If a firm has high variable costs relative to their selling price then they will have a small CM and therefore their DOL will decrease. Have a high amount of fixed costs relative to their variable costs. DOL= CM / Net Income We derive CM by the eqaution of Selling Price - Variable Costs If a firm has high variable costs relative to their selling price then they will have a small CM and therefore their DOL will decrease.
What is Customer perceived value?
The customer's evalution of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.
Demonstrate an ability to do business mathematics relative to Fixed Costs and Variable Costs determination?
maturity value=
What is relationship between Opportunity cost and relative price of a commodity?
Opportunity cost refers to the value of the next best alternative that is forgone when a choice is made. Relative price, on the other hand, is the price of one commodity in relation to another. The relationship between the two lies in the fact that relative prices can indicate opportunity costs; when a commodity's relative price rises, it often reflects a higher opportunity cost of using resources to produce that commodity instead of others. Therefore, understanding relative prices helps consumers and producers make informed decisions based on opportunity costs.
What is difference between price and value?
Price is what something costs; value is what something is worth. Quality of the product will determine it's overall value relative to it's cost.
Describe the relationship between the commercial prices of common metal's their actual abundances and relative costs of production?
LOL! Goes to an Answers site to answer Mr. Kilpatricks chemistry assignment question.
Make a comparison of merits and demerits of computer system?
Merits of computer systems include increased efficiency, accuracy in data processing, and automation of repetitive tasks. However, demerits can include high initial costs, potential for system failures, and vulnerability to cybersecurity threats.
Why does the degree of operating leverage change as the quantity sold increases?
Operating leverage decreases as output increases because fixed costs are decreasing in relative importance and variable costs are increasing in relative importance as output rises. Thus, the degree of operating leverage is declining.
What is the merits and demirts?
Merits refer to the advantages or positive aspects of a particular situation, idea, or action, such as effectiveness, efficiency, or benefits. Demerits, on the other hand, highlight the disadvantages or drawbacks, such as potential risks, costs, or negative consequences. Evaluating both merits and demerits is essential for informed decision-making, as it provides a balanced perspective on the implications of a choice. Understanding both sides helps to mitigate risks while maximizing benefits.
What is relative distance in geography?
"A measure of distance that includes the costs of overcoming the friction of absolute distance separating two places. It normally describes the amount of social, cultural, or economic connectivity between two places."
