Puget sound divers is a company that provides diving services such as underwater ship repairs to clients in the puget sound area. the company’s planning budget for may appears below: puget sound diversplanning budgetfor the month ended may 31budgeted diving-hours (q) 100revenue ($365.00q) $ 36,500expenses: wages and salaries ($8,000 $125.00q) 20,500supplies ($3.00q) 300equipment rental ($1,800 $32.00q) 5,000insurance ($3,400) 3,400miscellaneous ($630 $1.80q) 810total expense 30,010net operating income $ 6,490during may, the company’s actual activity was 105 diving-hours. required: prepare a flexible budget for may. question 1 of 5 total 1 of 5mcgraw hill education

Suppose an economy consists of three sectors: energy (e), manufacturing (m), and agriculture (a). sector e sells 70% of its output to m and 30% to a. sector m sells 30% of its output to e, 50% to a, and retains the rest. sector a sells 15% of its output to e, 30% to m, and retains the rest.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Diversity is an obstacle all marketers face: true false