After Trade Opens,the Short Run Impact on the Income of the Variable

question 3

Multiple Choice

After trade opens,the short run impact on the income of the variable factor will be

• A)a decrease.
• B)an increase.
• C)zero.
• D)indeterminate,depending on the consumption pattern of the owners of the variable factor.
• E)indeterminate,depending on the productivity of the variable factor.

Define and determine fixed, variable, semi-variable, and step costs.

Understand sales mix and its impact on composite unit calculations.

Understand the concept and calculation of the break-even point.

Comprehend the role and application of sensitivity analysis in cost-volume-profit (CVP) analysis.

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