The variable costing concept removes fixed costs, which are uncontrollable, from the decision-making process (see variable costing income statement). This forces management to focus on the variable factors of production, sales revenue and variable costs. I remember learning this concept in economics at LBCC, where a company should shut down if a product’s price falls below variable cost and just incur fixed costs.

Have you ever heard the saying “The company loses $1.00 on every unit sold, but we are confident the losses can be made up on volume.” Really?

In theory, companies should not operate with a negative contribution margin (sales revenue-variable costs), but my guess is that some do especially in this economic environment?

Do you think companies actually operate (or produce products) with a negative contribution margin?

an example of a command economy is

capitalism

communism

mixed economy

oligopoly

Question 2 - cultural diversity represent

a technical skill

the difference among people in the workforce

a religious issue the doesnt affect business organizations

a statistical method used to project sale revenue and profits for global.

Submit a deliverable designing a plan to implement at least one best practice in patient and family engagement and activation that includes the following components: assessment of the need or opportunity, readiness for change, identification of goals and resource needs, selection of performance tracking methods, and revenue improvement or cost containment.

Submit a deliverable designing a plan to implement at least one best practice in patient and family engagement and activation that includes the following components: assessment of the need or opportunity, readiness for change, identification of goals and resource needs, selection of performance tracking methods, and revenue improvement or cost containment.

In a natural monopoly, the government will try to set the price at which the demand curve intersects the monopolist's

1. Draw the graph of a profit maximizing monopoly. Be sure to include demand, marginal cost, marginal revenue, the price the monopoly charges and the quantity it sells.
   1. Indicate where on this graph the socially efficient production and price would be.

2. Indicate on this graph the deadweight loss. Why is there deadweight loss in a monopoly?

Suppose the own price elasticity of demand for milk is -0.75.

(a) What happens to quantity demanded and total revenue if the price increased by 10%?

(b) If the own price elasticity of supply is -1.5, who would be more affected by a 50 cent tax on milk, collected from sellers?

How is the accounting cycle different for a merchandising operation, as compared to a service business? How do the asset, revenue and expense accounts differ? How does the multi-step income statement differ from a single step? Which format is better? Be sure to support your answer.