Examlex
If the standard to produce a given amount of product is 2,000 units of direct materials at $12 and the actual was 1,600 units at $13, the direct materials quantity variance was $5,200 favorable.
Books
Bound printed works consisting of written or illustrated pages, typically used for reading or study.
Weak Axiom
A concept in consumer theory that assumes if a consumer prefers a bundle A over bundle B when prices are unchanged, they will not prefer B over A if the price of A decreases and B remains the same or increases.
Revealed Preference
An economic theory that assumes consumers' preferences can be revealed by their purchasing habits.
Prices
The sum of money needed to buy a product, service, or property.
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