How do economists define marginal benefit for an individual? A)the additional positive value that a person gives up in order to produce one more unit of a good or service

B) the additional positive value that a person receives from consuming one more unit of a good or service

C) the ability of a person to produce a greater quatity of a good or service than competitors, using the same amount of resources

D)the ability of a person to consume a greater quantity of a good or service than competitors, using a smaller amount of resources

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

Which of the following scenarios will probably cause prices to drop

In the supply-and-demand schedule shown above, the equilibrium price for cell phones is $25 $100 $200